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REGISTERED NUMBER: 09271065 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

P&N LIFT INSTALLATIONS LTD.

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P&N LIFT INSTALLATIONS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P Felstein
N Felstein





REGISTERED OFFICE: Unit C3
The Old Stables
Bird in Eye Farm
Uckfield
East Sussex
TN22 5HA





REGISTERED NUMBER: 09271065 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 196,056 19,469

CURRENT ASSETS
Debtors 5 479,017 368,934
Cash at bank 136,714 345,896
615,731 714,830
CREDITORS
Amounts falling due within one year 6 (258,747 ) (265,723 )
NET CURRENT ASSETS 356,984 449,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

553,040

468,576

CREDITORS
Amounts falling due after more than one
year

7

(70,824

)

(30,746

)

PROVISIONS FOR LIABILITIES (49,000 ) (4,860 )
NET ASSETS 433,216 432,970

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 433,116 432,870
433,216 432,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 26 July 2024 and were signed on its behalf by:




P Felstein - Director


P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

P&N Lift Installations Ltd. 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received in relation to lift installation, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the service has been completed for the required period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 20% reducing balance
Motor Vehicles- 20% reducing balance
Computer Equipment - 20% reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES

The average number of employees during the year was 9 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 14,888 5,683 15,644 36,215
Additions 19,598 188,125 5,617 213,340
At 31 October 2023 34,486 193,808 21,261 249,555
DEPRECIATION
At 1 November 2022 6,744 3,356 6,646 16,746
Charge for year 4,535 29,865 2,353 36,753
At 31 October 2023 11,279 33,221 8,999 53,499
NET BOOK VALUE
At 31 October 2023 23,207 160,587 12,262 196,056
At 31 October 2022 8,144 2,327 8,998 19,469

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 210,408 246,929
Other debtors 17,626 3,337
Directors' current accounts 17,005 -
VAT 34,231 3,546
Prepayments and accrued income 199,747 115,122
479,017 368,934

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,994 9,747
Hire purchase contracts 4,417 -
Trade creditors 73,861 25,777
Tax 77,645 82,096
Other creditors 92,830 106,316
Directors' current accounts - 37,789
Accruals and deferred income - 3,998
258,747 265,723

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,247 9,994
Bank loans - 2-5 years 10,506 20,752
Hire purchase contracts 50,071 -
70,824 30,746