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REGISTERED NUMBER: 06949010 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

LANCS & CUMBRIA LIFTS (UK) LTD

LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LANCS & CUMBRIA LIFTS (UK) LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: F A Sharples
Miss L K Rowley
S I Earnshaw





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 06949010 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

STATEMENT OF FINANCIAL POSITION
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 49,654 12,702
49,654 12,702

CURRENT ASSETS
Stocks 2,850 2,850
Debtors 6 185,605 166,943
Cash at bank and in hand 183,517 250,588
371,972 420,381
CREDITORS
Amounts falling due within one year 7 289,297 282,111
NET CURRENT ASSETS 82,675 138,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,329

150,972

CREDITORS
Amounts falling due after more than one
year

8

(107,873

)

(114,549

)

PROVISIONS FOR LIABILITIES (1,414 ) (2,594 )
NET ASSETS 23,042 33,829

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 22,842 33,629
SHAREHOLDERS' FUNDS 23,042 33,829

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.

LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

STATEMENT OF FINANCIAL POSITION - continued
31 October 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 Statement of Comprehensive Income 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 Sharples - Director


LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Lancs & Cumbria Lifts (UK) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost convention as modified by the revaluation of certain assets.

The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents the value, excluding value added tax, of installation and repair work carried out during the year.

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contract the amount of revenue is measured at the fair value of the work performed by reference to the amount chargeable to clients, excluding value added tax. Revenue not billed to clients at the balance sheet date is included in debtors as amounts recoverable on incomplete contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been amortised fully in the year of acquisition.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

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

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts, trade creditors, accruals and bank loans.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors' loan accounts, trade creditors and accruals, are measured initially and subsequently at the discounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.


LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 1
AMORTISATION
At 1 November 2022
and 31 October 2023 1
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 275 14,935 30,073 45,283
Additions - 53,657 - 53,657
At 31 October 2023 275 68,592 30,073 98,940
DEPRECIATION
At 1 November 2022 140 3,734 28,707 32,581
Charge for year 21 16,215 469 16,705
At 31 October 2023 161 19,949 29,176 49,286
NET BOOK VALUE
At 31 October 2023 114 48,643 897 49,654
At 31 October 2022 135 11,201 1,366 12,702

The net book value of tangible fixed assets includes £ 48,643 (2022 - £ 11,201 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 151,864 143,144
Other debtors 33,741 23,799
185,605 166,943

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 12,495 3,981
Trade creditors 63,832 32,203
Taxation and social security 88,408 96,826
Other creditors 124,562 149,101
289,297 282,111

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 41,206 7,882
Other creditors 66,667 106,667
107,873 114,549

LANCS & CUMBRIA LIFTS (UK) LTD (REGISTERED NUMBER: 06949010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
S I Earnshaw
Balance outstanding at start of year 1,794 -
Amounts advanced 5,000 7,794
Amounts repaid (6,794 ) (6,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,794

Interest has been charged on the amount advanced.