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REGISTERED NUMBER: 05161320 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Fife Lifts Limited

Fife Lifts Limited (Registered number: 05161320)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fife Lifts Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: A J Whittaker





REGISTERED OFFICE: 12 Fife Road
Stockton on Tees
Cleveland
TS20 1EE





REGISTERED NUMBER: 05161320 (England and Wales)





ACCOUNTANTS: APC Accountancy
Chartered Accountants
73 Gilkes Street
Middlesbrough
TS1 5EH

Fife Lifts Limited (Registered number: 05161320)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,007

CURRENT ASSETS
Debtors 5 12,672 540
Cash at bank 69,579 66,937
82,251 67,477
CREDITORS
Amounts falling due within one year 6 63,206 11,006
NET CURRENT ASSETS 19,045 56,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,045

58,478

PROVISIONS FOR LIABILITIES 7 - 381
NET ASSETS 19,045 58,097

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 19,025 58,077
SHAREHOLDERS' FUNDS 19,045 58,097

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:



A J Whittaker - Director


Fife Lifts Limited (Registered number: 05161320)

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

1. STATUTORY INFORMATION

Fife Lifts 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.

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 etc - 25% on cost and 10% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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.

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.

Fife Lifts Limited (Registered number: 05161320)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 19,350
Disposals 4,730
At 30 June 2024 24,080
DEPRECIATION
At 1 July 2023 17,343
Charge for year 201
Eliminated on disposal 6,536
At 30 June 2024 24,080
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 2,007

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 11,278 -
Other debtors 1,394 540
12,672 540

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 11,146 9,700
Other creditors 52,060 1,306
63,206 11,006

7. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax - 381

Fife Lifts Limited (Registered number: 05161320)

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

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 381
Timing differences (381 )
Balance at 30 June 2024 -

8. RELATED PARTY DISCLOSURES

At 30th June 2024 the company owed its director, Mr A J Whittaker £50,731 (2023: £457).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Whittaker.

10. ULTIMATE CONTROL

The company is under the ultimate control of its director.