Trent Lifting Ltd 6750266 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the provision of lifting services Digita Accounts Production Advanced 6.30.9574.0 true 6750266 2023-04-01 2024-03-31 6750266 2024-03-31 6750266 bus:OrdinaryShareClass1 2024-03-31 6750266 core:RetainedEarningsAccumulatedLosses 2024-03-31 6750266 core:ShareCapital 2024-03-31 6750266 core:CurrentFinancialInstruments 2024-03-31 6750266 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 6750266 core:Goodwill 2024-03-31 6750266 core:FurnitureFittingsToolsEquipment 2024-03-31 6750266 core:MotorVehicles 2024-03-31 6750266 bus:SmallEntities 2023-04-01 2024-03-31 6750266 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 6750266 bus:FullAccounts 2023-04-01 2024-03-31 6750266 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 6750266 bus:RegisteredOffice 2023-04-01 2024-03-31 6750266 bus:Director4 2023-04-01 2024-03-31 6750266 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 6750266 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 6750266 core:Goodwill 2023-04-01 2024-03-31 6750266 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 6750266 core:MotorVehicles 2023-04-01 2024-03-31 6750266 core:PlantMachinery 2023-04-01 2024-03-31 6750266 countries:England 2023-04-01 2024-03-31 6750266 2023-03-31 6750266 core:Goodwill 2023-03-31 6750266 core:FurnitureFittingsToolsEquipment 2023-03-31 6750266 core:MotorVehicles 2023-03-31 6750266 2022-04-01 2023-03-31 6750266 2023-03-31 6750266 bus:OrdinaryShareClass1 2023-03-31 6750266 core:RetainedEarningsAccumulatedLosses 2023-03-31 6750266 core:ShareCapital 2023-03-31 6750266 core:CurrentFinancialInstruments 2023-03-31 6750266 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 6750266 core:FurnitureFittingsToolsEquipment 2023-03-31 6750266 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 6750266

Trent Lifting Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Trent Lifting Ltd

(Registration number: 6750266)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

26,069

Current assets

 

Stocks

44,937

43,916

Debtors

6

169,920

204,539

Cash at bank and in hand

 

75,991

42,557

 

290,848

291,012

Creditors: Amounts falling due within one year

7

(189,770)

(207,258)

Net current assets

 

101,078

83,754

Net assets

 

101,078

109,823

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

101,077

109,822

Shareholders' funds

 

101,078

109,823

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 


Mr D Stocks
Director

   
 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stocks Group House
East Common Lane
Scunthorpe
North Lincolnshire
DN16 1DE

Registered number: 6750266

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Contract revenue recognition

Turnover is only recognised on a contract where the outcome can be estimated reliably. Turnover and costs are recognised by reference to the stage of completion of contract activity at the year end date.

Government grants

Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future relared costs, is recognised as income in the period in which it becomes receivable.

 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% per annum on written down value

Motor vehicles

25% per annum on written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

The business utilises an invoice financing facility. Financial assets and liabilities arising from a sale are recorded at the transaction price.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year was 5 (2023 - 6).

 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

70,000

70,000

At 31 March 2024

70,000

70,000

Amortisation

At 1 April 2023

70,000

70,000

At 31 March 2024

70,000

70,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

36,193

17,307

53,500

Additions

167

-

167

Disposals

(36,360)

(17,307)

(53,667)

At 31 March 2024

-

-

-

Depreciation

At 1 April 2023

13,375

14,056

27,431

Charge for the year

2,298

813

3,111

Eliminated on disposal

(15,673)

(14,869)

(30,542)

At 31 March 2024

-

-

-

Carrying amount

At 31 March 2024

-

-

-

At 31 March 2023

22,818

3,251

26,069

 

Trent Lifting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

2024
£

2023
£

Trade debtors

 

143,099

197,550

Amounts owed by related parties

24,888

6,216

Prepayments

 

1,933

773

   

169,920

204,539

7

Creditors

2024
£

2023
£

Due within one year

Trade payables

26,008

57,806

Amounts due to related parties

110,586

99,402

Social security and other taxes

45,228

47,007

Other payables

7,948

3,043

189,770

207,258

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1