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REGISTERED NUMBER: 12297676 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Pr Lift Equipment Limited

Pr Lift Equipment Limited (Registered number: 12297676)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pr Lift Equipment Limited

Company Information
for the Year Ended 30 November 2023







Directors: L Rushforth
A P Phillipson





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 12297676 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Pr Lift Equipment Limited (Registered number: 12297676)

Statement of Financial Position
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 11,351 4,080

Current assets
Stocks 61,250 55,087
Debtors 5 145,077 156,154
Cash at bank and in hand 101,290 44,091
307,617 255,332
Creditors
Amounts falling due within one year 6 246,035 209,739
Net current assets 61,582 45,593
Total assets less current liabilities 72,933 49,673

Creditors
Amounts falling due after more than
one year

7

(15,663

)

(16,143

)

Provisions for liabilities 9 (2,838 ) (1,020 )
Net assets 54,432 32,510

Capital and reserves
Called up share capital 2,000 2,000
Retained earnings 52,432 30,510
54,432 32,510

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.

Pr Lift Equipment Limited (Registered number: 12297676)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





L Rushforth - Director


Pr Lift Equipment Limited (Registered number: 12297676)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. Statutory information

Pr Lift Equipment 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Pr Lift Equipment Limited (Registered number: 12297676)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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 6 (2022 - 4 ) .

Pr Lift Equipment Limited (Registered number: 12297676)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 December 2022 3,572 1,193 2,429 7,194
Additions 9,909 - 1,659 11,568
At 30 November 2023 13,481 1,193 4,088 18,762
Depreciation
At 1 December 2022 1,437 417 1,260 3,114
Charge for year 2,697 238 1,362 4,297
At 30 November 2023 4,134 655 2,622 7,411
Net book value
At 30 November 2023 9,347 538 1,466 11,351
At 30 November 2022 2,135 776 1,169 4,080

5. Debtors: amounts falling due within one year
30/11/23 30/11/22
£    £   
Trade debtors 139,916 151,873
Other debtors 5,161 4,281
145,077 156,154

6. Creditors: amounts falling due within one year
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 6,176 5,800
Hire purchase contracts 3,303 -
Trade creditors 66,649 106,845
Taxation and social security 73,556 50,374
Other creditors 96,351 46,720
246,035 209,739

7. Creditors: amounts falling due after more than one year
30/11/23 30/11/22
£    £   
Bank loans 10,223 16,143
Hire purchase contracts 5,440 -
15,663 16,143

Pr Lift Equipment Limited (Registered number: 12297676)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. Secured debts

The following secured debts are included within creditors:

30/11/23 30/11/22
£    £   
Hire purchase contracts 8,743 -

Hire purchase contracts are secured on the underlying assets.

9. Provisions for liabilities
30/11/23 30/11/22
£    £   
Deferred tax 2,838 1,020

Deferred
tax
£   
Balance at 1 December 2022 1,020
Charge to Statement of Income and Retained Earnings
during year

1,818
Balance at 30 November 2023 2,838

10. Related party disclosures

During the year the directors made loans to the company. The balance on these loans at 30 November 2023 was £45,368 (2022 - £44,744). These loans are interest-free and repayable on demand.