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REGISTERED NUMBER: 04834054 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

LIFTECH SYSTEMS (SE) LIMITED

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

LIFTECH SYSTEMS (SE) LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: D A Fields
C G Warren



SECRETARY: D A Fields



REGISTERED OFFICE: 24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA



REGISTERED NUMBER: 04834054 (England and Wales)



ACCOUNTANTS: Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA



BANKERS: National Westminster Bank Plc
43 Commercial Road
Totton
Southampton
Hampshire
SO40 3YE

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 502,584 500,805

CURRENT ASSETS
Stocks 115,967 146,825
Debtors 5 334,347 322,451
Cash at bank and in hand 245,382 79,650
695,696 548,926
CREDITORS
Amounts falling due within one year 6 726,055 594,879
NET CURRENT LIABILITIES (30,359 ) (45,953 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,225

454,852

CREDITORS
Amounts falling due after more than one
year

7

(179,101

)

(190,784

)

PROVISIONS FOR LIABILITIES (25,140 ) (24,142 )
NET ASSETS 267,984 239,926

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 267,982 239,924
SHAREHOLDERS' FUNDS 267,984 239,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

BALANCE SHEET - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





D A Fields - Director


LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Liftech Systems (SE) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2022 300,333 81,567 66,258
Additions - 638 4,133
Disposals - - -
At 31 May 2023 300,333 82,205 70,391
DEPRECIATION
At 1 June 2022 - 8,159 33,346
Charge for year - 4,109 12,673
Eliminated on disposal - - -
At 31 May 2023 - 12,268 46,019
NET BOOK VALUE
At 31 May 2023 300,333 69,937 24,372
At 31 May 2022 300,333 73,408 32,912

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 17,992 201,516 18,091 685,757
Additions 810 65,786 2,299 73,666
Disposals - (33,108 ) - (33,108 )
At 31 May 2023 18,802 234,194 20,390 726,315
DEPRECIATION
At 1 June 2022 13,471 118,016 11,960 184,952
Charge for year 1,667 50,570 2,868 71,887
Eliminated on disposal - (33,108 ) - (33,108 )
At 31 May 2023 15,138 135,478 14,828 223,731
NET BOOK VALUE
At 31 May 2023 3,664 98,716 5,562 502,584
At 31 May 2022 4,521 83,500 6,131 500,805

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022 32,500
Additions 64,556
At 31 May 2023 97,056
DEPRECIATION
At 1 June 2022 12,500
Charge for year 24,264
At 31 May 2023 36,764
NET BOOK VALUE
At 31 May 2023 60,292
At 31 May 2022 20,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 304,630 242,201
Other debtors 29,717 80,250
334,347 322,451

LIFTECH SYSTEMS (SE) LIMITED (REGISTERED NUMBER: 04834054)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 12,732 11,345
Hire purchase contracts 14,885 9,104
Trade creditors 309,023 253,430
Taxation and social security 19,446 18,120
Other creditors 369,969 302,880
726,055 594,879

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 166,388 180,376
Hire purchase contracts 12,713 10,408
179,101 190,784

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 115,460 134,996

8. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by the two directors as each director owns 50% of the entire share capital.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LIFTECH SYSTEMS (SE) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Liftech Systems (SE) Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Liftech Systems (SE) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Liftech Systems (SE) Limited and state those matters that we have agreed to state to the Board of Directors of Liftech Systems (SE) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Liftech Systems (SE) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Liftech Systems (SE) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Liftech Systems (SE) Limited. You consider that Liftech Systems (SE) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Liftech Systems (SE) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA


Date: 29 November 2023