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REGISTERED NUMBER: 11937164 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

LIFTECH ELECTRICAL LIMITED

LIFTECH ELECTRICAL LIMITED (REGISTERED NUMBER: 11937164)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

LIFTECH ELECTRICAL LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: S Denton
C G Warren
D A Fields





REGISTERED OFFICE: Unit M, OYO Business Units
Fishers Grove
Farlington
Portsmouth
Hampshire
PO6 1RN





REGISTERED NUMBER: 11937164 (England and Wales)





ACCOUNTANTS: Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA

LIFTECH ELECTRICAL LIMITED (REGISTERED NUMBER: 11937164)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,373 13,933

CURRENT ASSETS
Stocks 8,949 8,460
Debtors 5 1,874 4,395
Cash at bank and in hand 18,442 4,680
29,265 17,535
CREDITORS
Amounts falling due within one year 6 13,218 9,026
NET CURRENT ASSETS 16,047 8,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,420

22,442

CREDITORS
Amounts falling due after more than one
year

7

(1,176

)

(5,631

)

PROVISIONS FOR LIABILITIES (1,761 ) (2,647 )
NET ASSETS 22,483 14,164

CAPITAL AND RESERVES
Called up share capital 60 60
Retained earnings 22,423 14,104
SHAREHOLDERS' FUNDS 22,483 14,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

LIFTECH ELECTRICAL LIMITED (REGISTERED NUMBER: 11937164)

BALANCE SHEET - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





D A Fields - Director


LIFTECH ELECTRICAL LIMITED (REGISTERED NUMBER: 11937164)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Liftech Electrical 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 - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

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

LIFTECH ELECTRICAL LIMITED (REGISTERED NUMBER: 11937164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 508 18,294 249 19,051
Additions 115 - - 115
At 31 May 2024 623 18,294 249 19,166
DEPRECIATION
At 1 June 2023 238 4,818 62 5,118
Charge for year 113 4,500 62 4,675
At 31 May 2024 351 9,318 124 9,793
NET BOOK VALUE
At 31 May 2024 272 8,976 125 9,373
At 31 May 2023 270 13,476 187 13,933

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,238 -
Other debtors 636 4,395
1,874 4,395

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,455 4,055
Trade creditors 1,088 1,086
Taxation and social security 4,324 450
Other creditors 3,351 3,435
13,218 9,026

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 1,176 5,631

8. RELATED PARTY DISCLOSURES

During the year the company made sales to and purchased goods and services from Liftech Systems (SE) Limited, a company that is under the control of 2 of the directors.

During the year sales made to Liftech Systems (SE) Limited amounted to £77,074 (2023 - £63,618) and the balance owing to that company at the year end amounted to £Nil (2023 - £Nil).

During the year purchases of goods and services from Liftech Systems (SE) Limited amounted to £5,800 (2023 - £4,058) and the balance owing to that company at the year end amounted to £Nil (2023 - £Nil).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LIFTECH ELECTRICAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Liftech Electrical Limited for the year ended 31 May 2024 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 Liftech Electrical 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 Liftech Electrical Limited and state those matters that we have agreed to state to the Board of Directors of Liftech Electrical 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 Liftech Electrical Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Liftech Electrical 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 Liftech Electrical Limited. You consider that Liftech Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Liftech Electrical 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.






Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA


Date: 09 October 2024