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REGISTERED NUMBER: 05758842 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EAST SUSSEX LIFTS LIMITED

EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

EAST SUSSEX LIFTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Ward
F A Richardson
J Ward
J R A Ward





SECRETARY: F A Richardson





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 05758842 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,111 21,641

CURRENT ASSETS
Stocks 45,000 48,000
Debtors 5 50,185 56,695
Cash in hand 1,045 294
96,230 104,989
CREDITORS
Amounts falling due within one year 6 157,350 123,415
NET CURRENT LIABILITIES (61,120 ) (18,426 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,009 ) 3,215

CREDITORS
Amounts falling due after more than one year 7 (47,411 ) (34,182 )

PROVISIONS FOR LIABILITIES (6,161 ) (2,933 )
NET LIABILITIES (76,581 ) (33,900 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (76,681 ) (34,000 )
SHAREHOLDERS' FUNDS (76,581 ) (33,900 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





F A Richardson - Director


EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)

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

1. STATUTORY INFORMATION

East Sussex Lifts 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.

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.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Contracts are invoiced when the work complete, except when deposits are required to cover initial material outlay.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 40,794 134 2,700 2,789 46,417
Additions 29,478 - - - 29,478
At 31 December 2023 70,272 134 2,700 2,789 75,895
DEPRECIATION
At 1 January 2023 21,787 91 1,846 1,052 24,776
Charge for year 12,122 7 213 666 13,008
At 31 December 2023 33,909 98 2,059 1,718 37,784
NET BOOK VALUE
At 31 December 2023 36,363 36 641 1,071 38,111
At 31 December 2022 19,007 43 854 1,737 21,641


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 6,800 13,844
Other debtors 42,174 42,174
Prepayments 1,211 677
50,185 56,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 19,611 20,323
Hire purchase contracts 7,137 4,765
Trade creditors 6,626 5,083
Social security and other taxes 21,203 17,035
VAT 22,030 9,620
Other creditors 4,078 3,613
ESS intercompany 42 1,460
Directors' current accounts 74,266 59,266
Accrued expenses 2,357 2,250
157,350 123,415

EAST SUSSEX LIFTS LIMITED (REGISTERED NUMBER: 05758842)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 8,214 8,117
Bank loans - 2-5 years 7,731 11,656
Hire purchase contracts 31,466 14,409
47,411 34,182

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 11,600 12,406
Hire purchase contracts 38,603 19,174
50,203 31,580

The bank hold a debenture dated 3 February 2016 containing fixed and floating charges over all assets present and future including goodwill and uncalled capital and a first floating charge over all assets present and future.

9. RELATED PARTY DISCLOSURES

At the year end the company owed Mrs F Richardson, a director, £74,266. There are no terms attached to this loan.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EAST SUSSEX LIFTS 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 East Sussex Lifts Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet 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 East Sussex Lifts Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of East Sussex Lifts Limited and state those matters that we have agreed to state to the Board of Directors of East Sussex Lifts 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 East Sussex Lifts Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that East Sussex Lifts 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 loss of East Sussex Lifts Limited. You consider that East Sussex Lifts 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 East Sussex Lifts 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.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


31 July 2024