IRIS Accounts Production v24.2.0.383 03782380 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037823802023-06-30037823802024-06-30037823802023-07-012024-06-30037823802022-06-30037823802022-07-012023-06-30037823802023-06-3003782380ns15:EnglandWales2023-07-012024-06-3003782380ns14:PoundSterling2023-07-012024-06-3003782380ns10:Director12023-07-012024-06-3003782380ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003782380ns10:SmallEntities2023-07-012024-06-3003782380ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3003782380ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3003782380ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3003782380ns10:FullAccounts2023-07-012024-06-3003782380ns10:Director32023-07-012024-06-3003782380ns10:RegisteredOffice2023-07-012024-06-3003782380ns5:CurrentFinancialInstruments2024-06-3003782380ns5:CurrentFinancialInstruments2023-06-3003782380ns5:ShareCapital2024-06-3003782380ns5:ShareCapital2023-06-3003782380ns5:RetainedEarningsAccumulatedLosses2024-06-3003782380ns5:RetainedEarningsAccumulatedLosses2023-06-3003782380ns5:PlantMachinery2023-07-012024-06-3003782380ns5:FurnitureFittings2023-07-012024-06-3003782380ns5:MotorVehicles2023-07-012024-06-3003782380ns5:ComputerEquipment2023-07-012024-06-3003782380ns5:PlantMachinery2023-06-3003782380ns5:FurnitureFittings2023-06-3003782380ns5:MotorVehicles2023-06-3003782380ns5:ComputerEquipment2023-06-3003782380ns5:PlantMachinery2024-06-3003782380ns5:FurnitureFittings2024-06-3003782380ns5:MotorVehicles2024-06-3003782380ns5:ComputerEquipment2024-06-3003782380ns5:PlantMachinery2023-06-3003782380ns5:FurnitureFittings2023-06-3003782380ns5:MotorVehicles2023-06-3003782380ns5:ComputerEquipment2023-06-3003782380ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3003782380ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3003782380ns10:Director22023-07-012024-06-3003782380ns10:Director222023-06-3003782380ns10:Director222022-06-3003782380ns10:Director222023-07-012024-06-3003782380ns10:Director222022-07-012023-06-3003782380ns10:Director222024-06-3003782380ns10:Director222023-06-30037823801ns10:Director12023-06-30037823801ns10:Director12022-06-30037823801ns10:Director12023-07-012024-06-30037823801ns10:Director12022-07-012023-06-30037823801ns10:Director12024-06-30037823801ns10:Director12023-06-30
REGISTERED NUMBER: 03782380 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2024

for

LIFTABILITY LIMITED

LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)






Contents of the Financial Statements
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIFTABILITY LIMITED

Company Information
for the Year Ended 30th June 2024







DIRECTORS: K S Dalley
N G Crooke





REGISTERED OFFICE: 89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ





REGISTERED NUMBER: 03782380 (England and Wales)





ACCOUNTANTS: Graham Martin & Co
Accountants
89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ

LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,972 161,694

CURRENT ASSETS
Stocks 106,188 103,326
Debtors 5 343,620 480,080
Cash at bank and in hand 351,562 1,031,149
801,370 1,614,555
CREDITORS
Amounts falling due within one year 6 404,679 453,005
NET CURRENT ASSETS 396,691 1,161,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

543,663

1,323,244

PROVISIONS FOR LIABILITIES 316,109 331,301
NET ASSETS 227,554 991,943

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 227,454 991,843
SHAREHOLDERS' FUNDS 227,554 991,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 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.

LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)

Balance Sheet - continued
30th June 2024


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 30th September 2024 and were signed on its behalf by:





K S Dalley - Director


LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)

Notes to the Financial Statements
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

Liftability 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
The figure for turnover represents the invoiced amount of goods sold during the year (exclusive of Value Added Tax).

Income arising on maintenance contracts and service agreements is treated as turnover at the commencement of the agreement. Provision is made for estimated future costs to meet the company's obligations under these agreements.

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 - 25% on cost
Furniture & Fixtures - 15% on cost
Motor vehicles - 25% on cost
Office 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 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 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.

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.

LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company is making employer contributions to the director's personal pension plans.

Provision for warranties
Provision is made for the estimated cost of meeting the company's obligations under extended warranties issued by the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Furniture Motor Office
machinery & Fixtures vehicles Equipment Totals
£    £    £    £    £   
COST
At 1st July 2023 5,593 59,884 232,455 127,991 425,923
Additions - 863 54,868 784 56,515
Disposals - - (29,344 ) - (29,344 )
At 30th June 2024 5,593 60,747 257,979 128,775 453,094
DEPRECIATION
At 1st July 2023 5,422 59,728 84,141 114,938 264,229
Charge for year 147 143 58,629 6,357 65,276
Eliminated on disposal - - (23,383 ) - (23,383 )
At 30th June 2024 5,569 59,871 119,387 121,295 306,122
NET BOOK VALUE
At 30th June 2024 24 876 138,592 7,480 146,972
At 30th June 2023 171 156 148,314 13,053 161,694

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 307,879 452,502
Amounts owed by group undertakings - 208
Other debtors 35,741 27,370
343,620 480,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 24,841 28,670
Trade creditors 187,039 245,451
Taxation and social security 101,819 115,924
Other creditors 90,980 62,960
404,679 453,005

LIFTABILITY LIMITED (REGISTERED NUMBER: 03782380)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2024 and 30th June 2023:

2024 2023
£    £   
M Murley
Balance outstanding at start of year 24,114 16,550
Amounts advanced - 86,400
Amounts repaid (24,114 ) (78,836 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 24,114

K S Dalley
Balance outstanding at start of year 16 48
Amounts advanced - 9,600
Amounts repaid (16 ) (9,632 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 16

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K S Dalley.