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REGISTERED NUMBER: 04111522 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

LIFT SAFE LTD.

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIFT SAFE LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr B J Cullen
Mrs E Hanss
Mrs R A Parker
Mr J D Radcliffe
Mr G B Hanss





REGISTERED OFFICE: Unit 16 Hawksley Industrial Estate
Hawksley Street
Oldham
Lancashire
OL8 4PQ





REGISTERED NUMBER: 04111522 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 900 1,350
Tangible assets 5 355,154 313,197
356,054 314,547

CURRENT ASSETS
Stocks 1,546,668 1,789,239
Debtors 6 1,841,026 1,300,758
Cash at bank and in hand 331,470 346,836
3,719,164 3,436,833
CREDITORS
Amounts falling due within one year 7 1,706,086 1,740,296
NET CURRENT ASSETS 2,013,078 1,696,537
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,369,132

2,011,084

CREDITORS
Amounts falling due after more than one year 8 (85,834 ) (157,497 )

PROVISIONS FOR LIABILITIES (74,300 ) (58,300 )
NET ASSETS 2,208,998 1,795,287

CAPITAL AND RESERVES
Called up share capital 770 770
Share premium 120,812 120,812
Capital redemption reserve 330 330
Retained earnings 2,087,086 1,673,375
SHAREHOLDERS' FUNDS 2,208,998 1,795,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

BALANCE SHEET - continued
30 NOVEMBER 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:





Mr G B Hanss - Director


LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Lift Safe Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 04111522 and its registered office address is at Unit 16 Hawksley Industrial Estate, Hawksley Street, Oldham, OL8 4PQ.

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, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Rental units - 25% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

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 34 (2022 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 2,250
AMORTISATION
At 1 December 2022 900
Charge for year 450
At 30 November 2023 1,350
NET BOOK VALUE
At 30 November 2023 900
At 30 November 2022 1,350

5. TANGIBLE FIXED ASSETS
Freehold Rental Plant and
property units machinery
£    £    £   
COST
At 1 December 2022 152,115 86,576 10,986
Additions 9,195 - 2,083
Disposals - - -
At 30 November 2023 161,310 86,576 13,069
DEPRECIATION
At 1 December 2022 66,518 74,440 6,776
Charge for year 15,858 7,691 3,563
Eliminated on disposal - - -
At 30 November 2023 82,376 82,131 10,339
NET BOOK VALUE
At 30 November 2023 78,934 4,445 2,730
At 30 November 2022 85,597 12,136 4,210

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 60,887 354,402 55,275 720,241
Additions 1,563 151,195 2,314 166,350
Disposals - (98,312 ) - (98,312 )
At 30 November 2023 62,450 407,285 57,589 788,279
DEPRECIATION
At 1 December 2022 44,159 173,610 41,541 407,044
Charge for year 3,963 52,514 8,867 92,456
Eliminated on disposal - (66,375 ) - (66,375 )
At 30 November 2023 48,122 159,749 50,408 433,125
NET BOOK VALUE
At 30 November 2023 14,328 247,536 7,181 355,154
At 30 November 2022 16,728 180,792 13,734 313,197

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 83,050
Disposals (62,457 )
At 30 November 2023 20,593
DEPRECIATION
At 1 December 2022 41,419
Charge for year 11,423
Eliminated on disposal (38,247 )
At 30 November 2023 14,595
NET BOOK VALUE
At 30 November 2023 5,998
At 30 November 2022 41,631

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 604,295 397,999
Amounts owed by group undertakings 1,112,000 752,000
Other debtors 124,731 150,759
1,841,026 1,300,758

LIFT SAFE LTD. (REGISTERED NUMBER: 04111522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 88,889 88,889
Hire purchase contracts 17,275 19,929
Trade creditors 647,996 419,082
Taxation and social security 497,615 279,000
Other creditors 454,311 933,396
1,706,086 1,740,296

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 66,667 155,555
Hire purchase contracts 19,167 1,942
85,834 157,497

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 155,556 244,444
Hire purchase contracts 36,442 21,871
191,998 266,315

Reporting entity bank loans are secured by a fixed and floating charge dated 5 October 2015.

Reporting entity hire purchase liabilities are secured on the assets to which they relate.