3 false false false false false false false false false false true false false false false false false 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 84,032 98,852 xbrli:pure xbrli:shares iso4217:GBP 06844775 2023-01-01 2023-12-31 06844775 2023-12-31 06844775 2022-12-31 06844775 2022-01-01 2022-12-31 06844775 2022-12-31 06844775 2021-12-31 06844775 bus:RegisteredOffice 2023-01-01 2023-12-31 06844775 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 06844775 bus:Director1 2023-01-01 2023-12-31 06844775 bus:Director2 2023-01-01 2023-12-31 06844775 bus:Director3 2023-01-01 2023-12-31 06844775 core:WithinOneYear 2023-12-31 06844775 core:WithinOneYear 2022-12-31 06844775 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06844775 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06844775 core:RetainedEarningsAccumulatedLosses 2022-12-31 06844775 core:RetainedEarningsAccumulatedLosses 2023-12-31 06844775 core:RetainedEarningsAccumulatedLosses 2022-12-31 06844775 core:ShareCapital 2023-12-31 06844775 core:ShareCapital 2022-12-31 06844775 bus:SmallEntities 2023-01-01 2023-12-31 06844775 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06844775 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06844775 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06844775 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 06844775
LIFT-WORKWISE LIMITED
Unaudited Financial Statements
31 December 2023
LIFT-WORKWISE LIMITED
Financial Statements
Year ended 31st December 2023
Contents
Page
Directors' report
1
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5
LIFT-WORKWISE LIMITED
Directors' Report
Year ended 31st December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Principal activities
The principal activity of the company during the year was the provision of financial advice.
Directors
The directors who served the company during the year were as follows:
C J Westbrook
M Holden
S McGowan
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 February 2024 and signed on behalf of the board by:
C J Westbrook
Director
Registered office:
Century House
Regent Road
Altrincham
Cheshire
WA14 1RR
LIFT-WORKWISE LIMITED
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of LIFT-WORKWISE LIMITED
Year ended 31st December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31st December 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
EDWARDS VEEDER LLP Chartered Accountants
Alex House 260-268 Chapel Street Salford M3 5JZ
27 February 2024
LIFT-WORKWISE LIMITED
Statement of Income and Retained Earnings
Year ended 31st December 2023
2023
2022
Note
£
£
Turnover
730,025
714,543
Cost of sales
146,625
142,948
---------
---------
Gross profit
583,400
571,595
Administrative expenses
473,554
449,555
---------
---------
Operating profit
109,846
122,040
---------
---------
Profit before taxation
109,846
122,040
Tax on profit
25,814
23,188
---------
---------
Profit for the financial year and total comprehensive income
84,032
98,852
---------
---------
Dividends paid and payable
( 75,000)
( 90,000)
Retained earnings at the start of the year
8,852
--------
--------
Retained earnings at the end of the year
17,884
8,852
--------
--------
All the activities of the company are from continuing operations.
LIFT-WORKWISE LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Stocks
15,016
Debtors
5
32,387
Cash at bank and in hand
5,548
64,379
--------
--------
52,951
64,379
Creditors: amounts falling due within one year
6
35,066
55,526
--------
--------
Net current assets
17,885
8,853
--------
-------
Total assets less current liabilities
17,885
8,853
--------
-------
Net assets
17,885
8,853
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
17,884
8,852
--------
-------
Shareholders funds
17,885
8,853
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 February 2024 , and are signed on behalf of the board by:
C J Westbrook
Director
Company registration number: 06844775
LIFT-WORKWISE LIMITED
Notes to the Financial Statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Century House, Regent Road, Altrincham, Cheshire, WA14 1RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
32,387
--------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
26,278
Corporation tax
25,815
23,188
Other creditors
9,251
6,060
--------
--------
35,066
55,526
--------
--------