Company registration number 02707977 (England and Wales)
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
COMPANY INFORMATION
Directors
Mr M Baxter
Mr I Mills
Company number
02707977
Registered office
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Accountants
Bryden Johnson Limited
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Business address
Bourne House
475 Godstone Road
Whyteleafe
CR3 0BL
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 8
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company continued to be that of lift & escalator consultant engineers.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M Baxter
Mr I Mills
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr M Baxter
Director
8 August 2024
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BUTLER & YOUNG LIFT CONSULTANTS LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Butler & Young Lift Consultants Limited for the year ended 31 March 2024 which comprise the profit and loss account, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Butler & Young Lift Consultants Limited, as a body, in accordance with the terms of our engagement letter dated 16 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Butler & Young Lift Consultants Limited and state those matters that we have agreed to state to the board of directors of Butler & Young Lift Consultants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Butler & Young Lift Consultants Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Butler & Young Lift Consultants 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 Butler & Young Lift Consultants Limited. You consider that Butler & Young Lift Consultants 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 Butler & Young Lift Consultants 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.

Bryden Johnson Limited
8 August 2024
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2024
2023
£
£
Turnover
963,422
1,190,697
Cost of sales
(584,454)
(493,848)
Gross profit
378,968
696,849
Administrative expenses
(460,892)
(393,551)
Operating (loss)/profit
(81,924)
303,298
Interest receivable and similar income
9,132
3,725
(Loss)/profit before taxation
(72,792)
307,023
Tax on (loss)/profit
10,500
(58,113)
(Loss)/profit for the financial year
(62,292)
248,910

The profit and loss account has been prepared on the basis that all operations are continuing operations.

BUTLER & YOUNG LIFT CONSULTANTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
55,747
53,509
Current assets
Debtors
4
321,113
366,347
Cash at bank and in hand
539,744
751,382
860,857
1,117,729
Creditors: amounts falling due within one year
5
(140,957)
(178,307)
Net current assets
719,900
939,422
Net assets
775,647
992,931
Capital and reserves
Called up share capital
6
95
95
Profit and loss reserves
775,552
992,836
Total equity
775,647
992,931

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 August 2024 and are signed on its behalf by:
Mr M Baxter
Director
Company registration number 02707977 (England and Wales)
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Company information

Butler & Young Lift Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
10
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
260,699
Additions
31,481
Disposals
(46,164)
At 31 March 2024
246,016
Depreciation and impairment
At 1 April 2023
207,190
Depreciation charged in the year
17,430
Eliminated in respect of disposals
(34,351)
At 31 March 2024
190,269
Carrying amount
At 31 March 2024
55,747
At 31 March 2023
53,509
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
295,457
256,902
Gross amounts owed by contract customers
-
0
95,394
Corporation tax recoverable
10,500
-
0
Other debtors
233
233
Prepayments and accrued income
14,923
13,818
321,113
366,347
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,814
8,738
Corporation tax
-
0
58,113
Other taxation and social security
74,498
67,041
Other creditors
44,645
44,415
140,957
178,307
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
95
95
95
95
7
Related party transactions

Included within other creditors is a balance of £37,903 (2023: £34,484) due to the directors of the company.

2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.100Mr M BaxterMr I Millsfalsefalse027079772023-04-012024-03-3102707977bus:Director12023-04-012024-03-3102707977bus:Director22023-04-012024-03-3102707977bus:RegisteredOffice2023-04-012024-03-31027079772024-03-31027079772022-04-012023-03-31027079772023-03-3102707977core:OtherPropertyPlantEquipment2024-03-3102707977core:OtherPropertyPlantEquipment2023-03-3102707977core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3102707977core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102707977core:CurrentFinancialInstruments2024-03-3102707977core:CurrentFinancialInstruments2023-03-3102707977core:ShareCapital2024-03-3102707977core:ShareCapital2023-03-3102707977core:RetainedEarningsAccumulatedLosses2024-03-3102707977core:RetainedEarningsAccumulatedLosses2023-03-3102707977core:FurnitureFittings2023-04-012024-03-3102707977core:ComputerEquipment2023-04-012024-03-3102707977core:MotorVehicles2023-04-012024-03-3102707977core:OtherPropertyPlantEquipment2023-03-3102707977core:OtherPropertyPlantEquipment2023-04-012024-03-3102707977bus:PrivateLimitedCompanyLtd2023-04-012024-03-3102707977bus:FRS1022023-04-012024-03-3102707977bus:AuditExemptWithAccountantsReport2023-04-012024-03-3102707977bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP