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REGISTERED NUMBER: 04204021 (England and Wales)














Lift and Shift Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Lift and Shift Limited (Registered number: 04204021)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


Lift and Shift Limited

Company Information
for the Year Ended 31 May 2023







Directors: S Reed
D W Reed





Registered office: Monica House
St Augustines Road
Wisbech
Cambs
PE13 3AD





Business address: Broadgate
Sutton St. James
Spalding
Lincolnshire
PE12 0HD





Registered number: 04204021 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lift and Shift 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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 Lift and Shift Limited for the year ended 31 May 2023 which comprise the Statement of income and retained earnings, Statement of financial position 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 Lift and Shift Limited, as a body, in accordance with the terms of our engagement letter dated 17 December 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Lift and Shift Limited and state those matters that we have agreed to state to the Board of Directors of Lift and Shift 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 Lift and Shift Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lift and Shift 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 Lift and Shift Limited. You consider that Lift and Shift 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 Lift and Shift 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.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


9 February 2024

Lift and Shift Limited (Registered number: 04204021)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 306,350 276,154

Current assets
Stocks 111,575 48,825
Debtors 6 16,139 6,499
Cash at bank 265,268 284,707
392,982 340,031
Creditors
Amounts falling due within one year 7 152,865 155,269
Net current assets 240,117 184,762
Total assets less current liabilities 546,467 460,916

Provisions for liabilities 65,202 48,930
Net assets 481,265 411,986

Capital and reserves
Called up share capital 20 20
Retained earnings 481,245 411,966
481,265 411,986

Lift and Shift Limited (Registered number: 04204021)

Statement of Financial Position - continued
31 May 2023


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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





S Reed - Director


Lift and Shift Limited (Registered number: 04204021)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. Statutory information

Lift and Shift 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.
Improvements to property - 10% on a straight line basis
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Containers for hire - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Lift and Shift Limited (Registered number: 04204021)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. Accounting policies - continued

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

4. Employees and directors

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

5. Tangible fixed assets
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 June 2022 3,096 132,929 9,014
Additions - 15,421 1,319
At 31 May 2023 3,096 148,350 10,333
Depreciation
At 1 June 2022 1,517 48,176 5,599
Charge for year 310 13,691 552
At 31 May 2023 1,827 61,867 6,151
Net book value
At 31 May 2023 1,269 86,483 4,182
At 31 May 2022 1,579 84,753 3,415

Motor Containers
vehicles for hire Totals
£    £    £   
Cost
At 1 June 2022 270,600 271,785 687,424
Additions - 58,214 74,954
At 31 May 2023 270,600 329,999 762,378
Depreciation
At 1 June 2022 238,284 117,694 411,270
Charge for year 6,981 23,224 44,758
At 31 May 2023 245,265 140,918 456,028
Net book value
At 31 May 2023 25,335 189,081 306,350
At 31 May 2022 32,316 154,091 276,154

Lift and Shift Limited (Registered number: 04204021)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 14,009 4,293
Prepayments 2,130 2,206
16,139 6,499

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 31,500 27,913
Corporation Tax 21,574 9,948
Social security and other taxes 1,191 1,199
VAT 18,622 16,420
Other creditors 1,649 2,153
Directors' loan accounts 66,730 84,736
Accrued expenses 11,599 12,900
152,865 155,269

8. Related party disclosures

During the year the directors made unsecured interest free loans to the company. The amount outstanding at the balance sheet date was £66,730 (2022: £84,736).