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REGISTERED NUMBER: 04568914 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE ESCALATOR COMPANY U.K. LIMITED

THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)






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


THE ESCALATOR COMPANY U.K. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: L Barber
K Barber





SECRETARY: L A Barber





REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH





REGISTERED NUMBER: 04568914 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 274,246 324,759

CURRENT ASSETS
Stocks 650,804 527,292
Debtors 5 1,785,418 1,046,703
Cash at bank 483,753 808,568
2,919,975 2,382,563
CREDITORS
Amounts falling due within one year 6 931,572 698,230
NET CURRENT ASSETS 1,988,403 1,684,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,262,649

2,009,092

PROVISIONS FOR LIABILITIES 51,772 48,024
NET ASSETS 2,210,877 1,961,068

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,210,777 1,960,968
SHAREHOLDERS' FUNDS 2,210,877 1,961,068

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.

THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)

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 2 August 2024 and were signed on its behalf by:





K Barber - Director


THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)

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

1. STATUTORY INFORMATION

The Escalator Company U.K. 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.

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 escalator parts and from the rendering of escalator maintenance and repairs services.

Turnover from the sale of escalator parts is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Turnover from the rendering of escalator maintenance and repairs 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably .Amounts received after services have been provided are included in accrued income.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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

THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)

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

2. ACCOUNTING POLICIES - continued

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.

Provisions for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward to the subsequent two years. The accrual recognised is for the entitled that is allowed to be used within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

The following accrual provision has been provided for;
2023 2022

Short-term compensated absences 33,628 34,674


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 36 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 19,731 145,941 15,877
Additions - - -
Disposals - - -
At 31 December 2023 19,731 145,941 15,877
DEPRECIATION
At 1 January 2023 9,033 104,252 14,295
Charge for year 1,973 7,230 396
Eliminated on disposal - - -
At 31 December 2023 11,006 111,482 14,691
NET BOOK VALUE
At 31 December 2023 8,725 34,459 1,186
At 31 December 2022 10,698 41,689 1,582

THE ESCALATOR COMPANY U.K. LIMITED (REGISTERED NUMBER: 04568914)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 506,996 9,225 697,770
Additions 74,985 1,312 76,297
Disposals (100,291 ) - (100,291 )
At 31 December 2023 481,690 10,537 673,776
DEPRECIATION
At 1 January 2023 240,882 4,549 373,011
Charge for year 59,618 1,290 70,507
Eliminated on disposal (43,988 ) - (43,988 )
At 31 December 2023 256,512 5,839 399,530
NET BOOK VALUE
At 31 December 2023 225,178 4,698 274,246
At 31 December 2022 266,114 4,676 324,759

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,724,647 1,009,153
Other debtors 60,771 37,550
1,785,418 1,046,703

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 467,123 358,236
Taxation and social security 399,680 272,543
Other creditors 64,769 67,451
931,572 698,230

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,879 43,960
Between one and five years 115,119 127,082
161,998 171,042