Registered number
11020295
Arrival Lifts Ltd
Unaudited Filleted Accounts
31 October 2023
Arrival Lifts Ltd
Registered number: 11020295
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,442 19,588
Current assets
Stocks 5,664 5,664
Debtors 4 183,339 105,400
Cash at bank and in hand 283,846 165,094
472,849 276,158
Creditors: amounts falling due within one year 5 (246,696) (160,223)
Net current assets 226,153 115,935
Total assets less current liabilities 241,595 135,523
Creditors: amounts falling due after more than one year 6 (17,512) (17,356)
Provisions for liabilities (2,772) (2,772)
Net assets 221,311 115,395
Capital and reserves
Called up share capital 100 100
Profit and loss account 221,211 115,295
Shareholders' funds 221,311 115,395
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.
Joe Johnston
Director
Approved by the board on 26 July 2024
Arrival Lifts Ltd
Notes to the Accounts
for the year ended 31 October 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.
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 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 11,658 26,600 38,258
Additions 1,001 - 1,001
At 31 October 2023 12,659 26,600 39,259
Depreciation
At 1 November 2022 6,974 11,696 18,670
Charge for the year 1,421 3,726 5,147
At 31 October 2023 8,395 15,422 23,817
Net book value
At 31 October 2023 4,264 11,178 15,442
At 31 October 2022 4,684 14,904 19,588
4 Debtors 2023 2022
£ £
Trade debtors 177,339 86,703
Other debtors 6,000 18,697
183,339 105,400
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 96,088 37,864
Taxation and social security costs 85,077 49,966
Other creditors 65,531 72,393
246,696 160,223
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 17,512 17,356
7 Other information
Arrival Lifts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
43 Stanley Road
Carshalton
Surrey
SM5 4LE
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