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LTD.2024-03-29iso4217:GBPxbrli:pureSC2615352023-02-01SC2615352024-01-31SC2615352023-02-012024-01-31SC2615352022-02-01SC2615352023-01-31SC2615352022-02-012023-01-31SC261535bus:SmallEntities2023-02-012024-01-31SC261535bus:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC261535bus:AbridgedAccounts2023-02-012024-01-31SC261535bus:PrivateLimitedCompanyLtd2023-02-012024-01-31SC261535core:WithinOneYear2024-01-31SC261535core:AfterOneYear2024-01-31SC261535core:WithinOneYear2023-01-31SC261535core:AfterOneYear2023-01-31SC261535core:ShareCapital2024-01-31SC261535core:SharePremium2024-01-31SC261535core:RevaluationReserve2024-01-31SC261535core:OtherReservesSubtotal2024-01-31SC261535core:RetainedEarningsAccumulatedLosses2024-01-31SC261535core:ShareCapital2023-01-31SC261535core:SharePremium2023-01-31SC261535core:RevaluationReserve2023-01-31SC261535core:OtherReservesSubtotal2023-01-31SC261535core:RetainedEarningsAccumulatedLosses2023-01-31SC261535core:LandBuildings2024-01-31SC261535core:PlantMachinery2024-01-31SC261535core:Vehicles2024-01-31SC261535core:FurnitureFittings2024-01-31SC261535core:OfficeEquipment2024-01-31SC261535core:NetGoodwill2024-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2024-01-31SC261535core:ListedExchangeTraded2024-01-31SC261535core:UnlistedNon-exchangeTraded2024-01-31SC261535core:LandBuildings2023-01-31SC261535core:PlantMachinery2023-01-31SC261535core:Vehicles2023-01-31SC261535core:FurnitureFittings2023-01-31SC261535core:OfficeEquipment2023-01-31SC261535core:NetGoodwill2023-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2023-01-31SC261535core:ListedExchangeTraded2023-01-31SC261535core:UnlistedNon-exchangeTraded2023-01-31SC261535core:LandBuildings2023-02-012024-01-31SC261535core:PlantMachinery2023-02-012024-01-31SC261535core:Vehicles2023-02-012024-01-31SC261535core:FurnitureFittings2023-02-012024-01-31SC261535core:OfficeEquipment2023-02-012024-01-31SC261535core:NetGoodwill2023-02-012024-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31SC261535core:ListedExchangeTraded2023-02-012024-01-31SC261535core:UnlistedNon-exchangeTraded2023-02-012024-01-31SC261535core:MoreThanFiveYears2023-02-012024-01-31SC261535core:Non-currentFinancialInstruments2024-01-31SC261535core:Non-currentFinancialInstruments2023-01-31SC261535dpl:CostSales2023-02-012024-01-31SC261535dpl:DistributionCosts2023-02-012024-01-31SC261535core:LandBuildings2023-02-012024-01-31SC261535core:PlantMachinery2023-02-012024-01-31SC261535core:Vehicles2023-02-012024-01-31SC261535core:FurnitureFittings2023-02-012024-01-31SC261535core:OfficeEquipment2023-02-012024-01-31SC261535dpl:AdministrativeExpenses2023-02-012024-01-31SC261535core:NetGoodwill2023-02-012024-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31SC261535dpl:GroupUndertakings2023-02-012024-01-31SC261535dpl:ParticipatingInterests2023-02-012024-01-31SC261535dpl:GroupUndertakingscore:ListedExchangeTraded2023-02-012024-01-31SC261535core:ListedExchangeTraded2023-02-012024-01-31SC261535dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-02-012024-01-31SC261535core:UnlistedNon-exchangeTraded2023-02-012024-01-31SC261535dpl:CostSales2022-02-012023-01-31SC261535dpl:DistributionCosts2022-02-012023-01-31SC261535core:LandBuildings2022-02-012023-01-31SC261535core:PlantMachinery2022-02-012023-01-31SC261535core:Vehicles2022-02-012023-01-31SC261535core:FurnitureFittings2022-02-012023-01-31SC261535core:OfficeEquipment2022-02-012023-01-31SC261535dpl:AdministrativeExpenses2022-02-012023-01-31SC261535core:NetGoodwill2022-02-012023-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-31SC261535dpl:GroupUndertakings2022-02-012023-01-31SC261535dpl:ParticipatingInterests2022-02-012023-01-31SC261535dpl:GroupUndertakingscore:ListedExchangeTraded2022-02-012023-01-31SC261535core:ListedExchangeTraded2022-02-012023-01-31SC261535dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-02-012023-01-31SC261535core:UnlistedNon-exchangeTraded2022-02-012023-01-31SC261535core:NetGoodwill2024-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2024-01-31SC261535core:LandBuildings2024-01-31SC261535core:PlantMachinery2024-01-31SC261535core:Vehicles2024-01-31SC261535core:FurnitureFittings2024-01-31SC261535core:OfficeEquipment2024-01-31SC261535core:AfterOneYear2024-01-31SC261535core:WithinOneYear2024-01-31SC261535core:ListedExchangeTraded2024-01-31SC261535core:UnlistedNon-exchangeTraded2024-01-31SC261535core:ShareCapital2024-01-31SC261535core:SharePremium2024-01-31SC261535core:RevaluationReserve2024-01-31SC261535core:OtherReservesSubtotal2024-01-31SC261535core:RetainedEarningsAccumulatedLosses2024-01-31SC261535core:NetGoodwill2023-01-31SC261535core:IntangibleAssetsOtherThanGoodwill2023-01-31SC261535core:LandBuildings2023-01-31SC261535core:PlantMachinery2023-01-31SC261535core:Vehicles2023-01-31SC261535core:FurnitureFittings2023-01-31SC261535core:OfficeEquipment2023-01-31SC261535core:AfterOneYear2023-01-31SC261535core:WithinOneYear2023-01-31SC261535core:ListedExc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FIRST LIFT ENGINEERS LTD.

Registered Number
SC261535
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

FIRST LIFT ENGINEERS LTD.
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

HUGHES, Catherine
HUGHES, John Charles

Registered Address

Afm House
6 Crofthead Road
Prestwick
KA9 1HW

Registered Number

SC261535 (Scotland)
FIRST LIFT ENGINEERS LTD.
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,7244,965
3,7244,965
Current assets
Stocks46,006800
Debtors512,7048,675
Cash at bank and on hand9,9649,276
28,67418,751
Creditors amounts falling due within one year6(8,522)(8,078)
Net current assets (liabilities)20,15210,673
Total assets less current liabilities23,87615,638
Accruals and deferred income(121)(60)
Net assets23,75515,578
Capital and reserves
Called up share capital100100
Profit and loss account23,65515,478
Shareholders' funds23,75515,578
The financial statements were approved and authorised for issue by the Board of Directors on 29 March 2024, and are signed on its behalf by:
HUGHES, John Charles
Director
Registered Company No. SC261535
FIRST LIFT ENGINEERS LTD.
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Interest income
Interest income is recognised using the effective interest rate method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2322,534
At 31 January 2422,534
Depreciation and impairment
At 01 February 2317,569
Charge for year1,241
At 31 January 2418,810
Net book value
At 31 January 243,724
At 31 January 234,965
4.Stocks

2024

2023

££
Other stocks6,006800
Total6,006800
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,2806,552
Prepayments and accrued income7,4242,123
Total12,7048,675
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,1254
Bank borrowings and overdrafts1,1172,124
Taxation and social security3,5955,707
Other creditors685243
Total8,5228,078
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.