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REGISTERED NUMBER: 01298366 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TRAIN-A-LIFT LIMITED

TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TRAIN-A-LIFT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: L J Cox
D Harding





SECRETARY: Miss L Brankin





REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT





REGISTERED NUMBER: 01298366 (England and Wales)






TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,109 97,518

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 351,110 259,258
Cash at bank and in hand 102,307 163,623
458,417 427,881
CREDITORS
Amounts falling due within one year 244,391 186,432
NET CURRENT ASSETS 214,026 241,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,135

338,967

CREDITORS
Amounts falling due after more than one
year

(76,192

)

(140,270

)

PROVISIONS FOR LIABILITIES (7,172 ) (4,471 )
NET ASSETS 215,771 194,226

CAPITAL AND RESERVES
Called up share capital 2,222 2,220
Retained earnings 213,549 192,006
215,771 194,226

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.

TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 August 2024 and were signed on its behalf by:





D Harding - Director


TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Train-a-Lift 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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.

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.

TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 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 23 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 227,540
Additions 9,518
Disposals (16,543 )
At 31 December 2023 220,515
DEPRECIATION
At 1 January 2023 130,022
Charge for year 20,641
Eliminated on disposal (15,257 )
At 31 December 2023 135,406
NET BOOK VALUE
At 31 December 2023 85,109
At 31 December 2022 97,518

TRAIN-A-LIFT LIMITED (REGISTERED NUMBER: 01298366)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals
£   
COST
At 1 January 2023
and 31 December 2023 82,091
DEPRECIATION
At 1 January 2023 8,107
Charge for year 14,427
At 31 December 2023 22,534
NET BOOK VALUE
At 31 December 2023 59,557
At 31 December 2022 73,984

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 14,427 14,427
Between one and five years 45,130 59,557
59,557 73,984

Non-cancellable operating leases
2023 2022
£    £   
Within one year 29,925 30,509
Between one and five years 32,878 62,803
62,803 93,312

6. SECURED DEBTS

The above debts are secured against the assets to which they relate.