Eze Lifts Limited
Registered number: 06657220
Statement of Financial Position
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 51,313 44,677
Current assets
Debtors 4 83,309 110,309
Cash at bank and in hand 473,137 412,632
556,446 522,941
Creditors: amounts falling due within one year 5 (81,993) (68,222)
Net current assets 474,453 454,719
Total assets less current liabilities 525,766 499,396
Provisions for liabilities (9,749) (7,954)
Net assets 516,017 491,442
Capital and reserves
Called up share capital 100 100
Profit and loss account 515,917 491,342
Shareholders' funds 516,017 491,442
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Still
Director
Approved by the board on 6 March 2024
Eze Lifts Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
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 rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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 and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction 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.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 10 11
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 71,770 7,000 78,770
Additions 28,990 - 28,990
Disposals - (7,000) (7,000)
At 31 July 2023 100,760 - 100,760
Depreciation
At 1 August 2022 32,343 1,750 34,093
Charge for the year 17,104 - 17,104
On disposals - (1,750) (1,750)
At 31 July 2023 49,447 - 49,447
Net book value
At 31 July 2023 51,313 - 51,313
At 31 July 2022 39,427 5,250 44,677
4 Debtors 2023 2022
£ £
Trade debtors 83,309 110,234
Other debtors - 75
83,309 110,309
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 33,287 15,439
Accruals 1,270 1,210
Corporation tax 25,186 23,545
Other taxes and social security costs 20,157 26,061
Other creditors 2,093 1,967
81,993 68,222
6 Other information
Eze Lifts Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rhoda House
4a Church Road
Fleet
Hampshire
GU51 3RU
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