REGISTERED NUMBER: |
LIFFT GROUP LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
REGISTERED NUMBER: |
LIFFT GROUP LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
LIFFT GROUP LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John Street |
Mansfield |
Nottinghamshire |
NG18 1QH |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
The directors present their report with the financial statements of the company for the period 2 October 2022 to 30 November 2023. |
INCORPORATION |
The company was incorporated on 2 October 2022 . |
DIRECTORS |
The directors who have held office during the period from 2 October 2022 to the date of this report are as follows: |
Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LIFFT GROUP LIMITED |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lifft Group Limited for the period ended 30 November 2023 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Lifft Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lifft Group Limited and state those matters that we have agreed to state to the Board of Directors of Lifft Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lifft Group Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Lifft Group 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 profit of Lifft Group Limited. You consider that Lifft Group Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Lifft Group 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. |
Chartered Accountants |
7 St John Street |
Mansfield |
Nottinghamshire |
NG18 1QH |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
INCOME STATEMENT |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
£ |
TURNOVER |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL PERIOD |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
BALANCE SHEET |
30 NOVEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Investments | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
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. |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Lifft Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Lifft Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Ip & branding |
IP & Branding is still in progress and therefore is not being amortised. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period 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. |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
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 period 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. |
Financial instruments |
Financial instruments 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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | INTANGIBLE FIXED ASSETS |
IP & |
Branding |
£ |
COST |
Additions |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
LIFFT GROUP LIMITED (REGISTERED NUMBER: 14391779) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 OCTOBER 2022 TO 30 NOVEMBER 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Amounts owed to participating interests | 1,618,000 |