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Company Registration No. 14699318 (England and Wales)
LIFTSMITHS LTD Unaudited accounts for the period from 2 March 2023 to 31 March 2024
LIFTSMITHS LTD Unaudited accounts Contents
Page
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LIFTSMITHS LTD Company Information for the period from 2 March 2023 to 31 March 2024
Director
R J Smith
Company Number
14699318 (England and Wales)
Registered Office
203 West Street Fareham PO16 0EN England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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LIFTSMITHS LTD Accountants' report
Accountants' report to the director of LIFTSMITHS LTD on the preparation of the unaudited statutory accounts for the period from 2 March 2023 to 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LIFTSMITHS LTD for the period from 2 March 2023 to 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of LIFTSMITHS LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of LIFTSMITHS LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LIFTSMITHS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LIFTSMITHS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LIFTSMITHS LTD. You consider that LIFTSMITHS LTD 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 accounts of LIFTSMITHS LTD. 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 accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 23 May 2024
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LIFTSMITHS LTD Statement of financial position as at 31 March 2024
2024 
Notes
£ 
Fixed assets
Intangible assets
5,400 
Tangible assets
2,461 
7,861 
Current assets
Debtors
5,295 
Cash at bank and in hand
9,121 
14,416 
Creditors: amounts falling due within one year
(22,276)
Net current liabilities
(7,860)
Net assets
1 
Capital and reserves
Called up share capital
1 
Shareholders' funds
1 
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 May 2024 and were signed on its behalf by
R J Smith Director Company Registration No. 14699318
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LIFTSMITHS LTD Notes to the Accounts for the period from 2 March 2023 to 31 March 2024
1
Statutory information
LIFTSMITHS LTD is a private company, limited by shares, registered in England and Wales, registration number 14699318. The registered office is 203 West Street, Fareham, PO16 0EN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance method
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 2 March 2023
- 
Additions
6,000 
At 31 March 2024
6,000 
Amortisation
At 2 March 2023
- 
Charge for the period
600 
At 31 March 2024
600 
Net book value
At 31 March 2024
5,400 
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LIFTSMITHS LTD Notes to the Accounts for the period from 2 March 2023 to 31 March 2024
5
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 2 March 2023
- 
Additions
2,703 
At 31 March 2024
2,703 
Depreciation
Charge for the period
242 
At 31 March 2024
242 
Net book value
At 31 March 2024
2,461 
6
Debtors
2024 
£ 
Amounts falling due within one year
Other debtors
5,295 
7
Creditors: amounts falling due within one year
2024 
£ 
Taxes and social security
5,033 
Loans from directors
17,028 
Accruals
215 
22,276 
8
Share capital
2024 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
R J Smith
Direcctor Loan Account
- 
5,647 
22,675 
(17,028)
- 
5,647 
22,675 
(17,028)
10
Average number of employees
During the period the average number of employees was 1.
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