Whitstable Lifts Limited


FINANCIAL STATEMENTS


for the year ended 31st May 2023



Whitstable Lifts Limited

CONTENTS

for the year ended 31st May 2023







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Whitstable Lifts Limited

Company No. 11996145

STATEMENT OF FINANCIAL POSITION

as at 31st May 2023

20232022
Note£££
FIXED ASSETS
Property, plant and equipment4936012332
936012332
CURRENT ASSETS
Debtors53529035884
Cash at bank and in hand68991688
4218937572
CURRENT LIABILITIES
Creditors: amounts falling due
within one year64805333697
NET CURRENT (LIABILITIES)/ASSETS(5864)3875
TOTAL ASSETS LESS CURRENT LIABILITIES349616207
 
Creditors: amounts falling due
after more than one year7-13068
 
NET ASSETS34963139
 
CAPITAL AND RESERVES
Called up share capital1011
Retained earnings33953138
SHAREHOLDERS FUNDS34963139

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st May 2023 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 7 February 2024


S J Brigstocke-Williams

Director

Company Number 11996145 (England)

Whitstable Lifts Limited

NOTES TO THE ACCOUNTS

for the year ended 31st May 2023


1   Statutory information

Whitstable Lifts Limited is a private company limited by shares and registered under company number 11996145 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent, England, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15-25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 2 (2022 - 2).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st June 2022 and
At 31st May 2023149954300221621511
 
Depreciation
At 1st June 2022 5858209812239179
Charge for year22844402482972
At 31st May 202381422538147112151
 
Net Book Value
At 31st May 2023685317627459360
At 31st May 20229137220299312332

5   Debtors20232022
££
 
Trade Debtors69606867
Other debtors2833029017
3529035884

6   Creditors: amounts falling due within one year20232022
££
 
Loans and Overdrafts132104000
Corporation tax2094915440
Taxes and social security costs26742853
Other creditors1122011404
4805333697

7   Creditors: amounts falling due after one year20232022
££
 
Loans and Overdrafts-13068
-13068

8   Loans20232022
££
Analysis of maturity of debt:
 
Within one year132104000
Between one and five years-13068
1321017068

2023-05-31false2022-06-012023-05-3111996145uk-bus:Director12022-06-012023-05-3111996145uk-gaap:ShareCapital2023-05-3111996145uk-gaap:ShareCapital2022-05-3111996145uk-gaap:RetainedEarningsAccumulatedLosses2023-05-3111996145uk-gaap:RetainedEarningsAccumulatedLosses2022-05-3111996145uk-gaap:VehiclesPlantMachinery2022-06-012023-05-3111996145uk-gaap:MotorVehicles2022-05-3111996145uk-gaap:PlantMachinery2022-05-3111996145uk-gaap:FurnitureFittingsToolsEquipment2022-05-3111996145uk-gaap:MotorVehicles2022-06-012023-05-3111996145uk-gaap:PlantMachinery2022-06-012023-05-3111996145uk-gaap:FurnitureFittingsToolsEquipment2022-06-012023-05-3111996145uk-gaap:MotorVehicles2023-05-3111996145uk-gaap:PlantMachinery2023-05-3111996145uk-gaap:FurnitureFittingsToolsEquipment2023-05-3111996145uk-gaap:WithinOneYear2023-05-3111996145uk-gaap:WithinOneYear2022-05-3111996145uk-gaap:AfterOneYear2022-05-31119961452022-06-012023-05-31119961452021-06-012022-05-31119961452023-05-31119961452022-05-3111996145uk-bus:SmallEntities2022-06-012023-05-3111996145uk-bus:AuditExempt-NoAccountantsReport2022-06-012023-05-3111996145uk-bus:FullAccounts2022-06-012023-05-3111996145uk-bus:PrivateLimitedCompanyLtd2022-06-012023-05-3111996145countries:EnglandWales2022-06-012023-05-31iso4217:GBPxbrli:purexbrli:shares