Registered number
08130657
HALTON STAIRLIFTS LIMITED
Unaudited Filleted Accounts
31 July 2023
HALTON STAIRLIFTS LIMITED
Registered number: 08130657
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 14,926 7,599
Tangible assets 4 375,097 285,442
390,023 293,041
Current assets
Stocks 60,084 50,864
Debtors 5 338,234 139,629
Cash at bank and in hand 164,333 115,152
562,651 305,645
Creditors: amounts falling due within one year 6 (434,918) (350,246)
Net current assets/(liabilities) 127,733 (44,601)
Total assets less current liabilities 517,756 248,440
Creditors: amounts falling due after more than one year 7 (222,205) (138,028)
Net assets 295,551 110,412
Capital and reserves
Called up share capital 201 200
Profit and loss account 295,350 110,212
Shareholders' funds 295,551 110,412
The directors are 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 directors acknowledge their 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 and delivered 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.
N McKenzie
Director
Approved by the board on 21 March 2024
HALTON STAIRLIFTS 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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 17,223
Additions 13,465
At 31 July 2023 30,688
Amortisation
At 1 August 2022 9,624
Provided during the year 6,138
At 31 July 2023 15,762
Net book value
At 31 July 2023 14,926
At 31 July 2022 7,599
Software development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 88,407 62,450 329,591 480,448
Additions 3,500 9,615 192,838 205,953
Disposals - - (128,896) (128,896)
At 31 July 2023 91,907 72,065 393,533 557,505
Depreciation
At 1 August 2022 7,923 35,037 152,046 195,006
Charge for the year 4,595 12,486 57,204 74,285
On disposals - - (86,883) (86,883)
At 31 July 2023 12,518 47,523 122,367 182,408
Net book value
At 31 July 2023 79,389 24,542 271,166 375,097
At 31 July 2022 80,484 27,413 177,545 285,442
5 Debtors 2023 2022
£ £
Trade debtors 79,770 21,346
Other debtors 258,464 118,283
338,234 139,629
6 Creditors: amounts falling due within one year 2023 2022
£ £
Deposits and deferred income 105,390 48,417
Bank loans and overdrafts 12,480 12,480
Obligations under finance lease and hire purchase contracts 35,415 41,753
Trade creditors 149,425 98,151
Taxation and social security costs 127,203 147,224
Other creditors 5,005 2,221
434,918 350,246
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,755 25,814
Obligations under finance lease and hire purchase contracts 206,450 112,214
222,205 138,028
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N McKenzie
[Loan 1] 24,578 126,374 (88,138) 62,814
J Williams
[Loan 1] 24,680 131,000 (88,138) 67,542
K McKenzie
[Loan 1] 17,855 108,500 (75,000) 51,355
67,113 365,874 (251,276) 181,711
9 Other information
HALTON STAIRLIFTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
300 St. Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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