IRIS Accounts Production v24.3.0.553 02574726 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 A (non voting) 1.00000 B (non voting) 1.00000 C (non voting) 1.00000 D (non voting) 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025747262023-02-28025747262024-02-29025747262023-03-012024-02-29025747262022-02-28025747262022-03-012023-02-28025747262023-02-2802574726ns15:EnglandWales2023-03-012024-02-2902574726ns14:PoundSterling2023-03-012024-02-2902574726ns10:Director12023-03-012024-02-2902574726ns10:Director22023-03-012024-02-2902574726ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2902574726ns10:SmallEntities2023-03-012024-02-2902574726ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2902574726ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2902574726ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2902574726ns10:FullAccounts2023-03-012024-02-2902574726ns10:OrdinaryShareClass12023-03-012024-02-2902574726ns10:OrdinaryShareClass22023-03-012024-02-2902574726ns10:OrdinaryShareClass32023-03-012024-02-2902574726ns10:OrdinaryShareClass42023-03-012024-02-2902574726ns10:OrdinaryShareClass52023-03-012024-02-2902574726ns10:RegisteredOffice2023-03-012024-02-2902574726ns5:CurrentFinancialInstruments2024-02-2902574726ns5:CurrentFinancialInstruments2023-02-2802574726ns5:ShareCapital2024-02-2902574726ns5:ShareCapital2023-02-2802574726ns5:CapitalRedemptionReserve2024-02-2902574726ns5:CapitalRedemptionReserve2023-02-2802574726ns5:RetainedEarningsAccumulatedLosses2024-02-2902574726ns5:RetainedEarningsAccumulatedLosses2023-02-2802574726ns5:LeaseholdImprovements2023-03-012024-02-2902574726ns5:PlantMachinery2023-03-012024-02-2902574726ns5:MotorVehicles2023-03-012024-02-2902574726ns5:ComputerEquipment2023-03-012024-02-2902574726ns5:LeaseholdImprovements2023-02-2802574726ns5:PlantMachinery2023-02-2802574726ns5:MotorVehicles2023-02-2802574726ns5:ComputerEquipment2023-02-2802574726ns5:LeaseholdImprovements2024-02-2902574726ns5:PlantMachinery2024-02-2902574726ns5:MotorVehicles2024-02-2902574726ns5:ComputerEquipment2024-02-2902574726ns5:LeaseholdImprovements2023-02-2802574726ns5:PlantMachinery2023-02-2802574726ns5:MotorVehicles2023-02-2802574726ns5:ComputerEquipment2023-02-2802574726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2902574726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2802574726ns5:Non-currentFinancialInstruments2024-02-2902574726ns5:Non-currentFinancialInstruments2023-02-2802574726ns5:WithinOneYear2024-02-2902574726ns5:WithinOneYear2023-02-2802574726ns5:BetweenOneFiveYears2024-02-2902574726ns5:BetweenOneFiveYears2023-02-2802574726ns5:AllPeriods2024-02-2902574726ns5:AllPeriods2023-02-2802574726ns10:OrdinaryShareClass12024-02-2902574726ns10:OrdinaryShareClass22024-02-2902574726ns10:OrdinaryShareClass32024-02-2902574726ns10:OrdinaryShareClass42024-02-2902574726ns10:OrdinaryShareClass52024-02-2902574726ns5:RetainedEarningsAccumulatedLosses2023-02-2802574726ns5:CapitalRedemptionReserve2023-02-2802574726ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 02574726 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TIP-N-LIFT (UK) LIMITED

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TIP-N-LIFT (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: T A Gallagher
PM Gallagher





REGISTERED OFFICE: Boss Hall House Boss Hall Road
Sproughton Road
Ipswich
Suffolk
IP1 5BN





REGISTERED NUMBER: 02574726 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,936 45,750

CURRENT ASSETS
Stocks 679,663 720,733
Debtors 5 242,197 325,669
Cash in hand 516,957 620,109
1,438,817 1,666,511
CREDITORS
Amounts falling due within one year 6 853,866 1,141,141
NET CURRENT ASSETS 584,951 525,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

621,887

571,120

PROVISIONS FOR LIABILITIES 5,000 7,690
NET ASSETS 616,887 563,430

CAPITAL AND RESERVES
Called up share capital 8 44 44
Capital redemption reserve 9 60 60
Retained earnings 9 616,783 563,326
SHAREHOLDERS' FUNDS 616,887 563,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

BALANCE SHEET - continued
29 FEBRUARY 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 6 August 2024 and were signed on its behalf by:




T A Gallagher - Director



PM Gallagher - Director


TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Tip-N-Lift (Uk) 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.
Improvements to property - 5% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - from 20% to 33% on reducing balance
Office Equipment - 33% 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.

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.

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 13,480 149,702 64,687 11,300 239,169
Additions - 950 - - 950
At 29 February 2024 13,480 150,652 64,687 11,300 240,119
DEPRECIATION
At 1 March 2023 10,656 131,396 40,067 11,300 193,419
Charge for year 674 3,851 5,239 - 9,764
At 29 February 2024 11,330 135,247 45,306 11,300 203,183
NET BOOK VALUE
At 29 February 2024 2,150 15,405 19,381 - 36,936
At 28 February 2023 2,824 18,306 24,620 - 45,750

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 183,652 267,584
Other debtors 17,811 18,085
VAT 734 -
202,197 285,669

Amounts falling due after more than one year:
Other debtors 40,000 40,000

Aggregate amounts 242,197 325,669

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 471,839 562,763
Corporation tax 18,015 35,760
Social security and other taxes 9,634 111,302
Other creditors 140,010 264,736
Accruals and deferred income 214,368 166,580
853,866 1,141,141

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 52,000 52,000
Between one and five years 73,667 125,667
125,667 177,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary £1 40 40
1 A (non voting) £1 1 1
1 B (non voting) £1 1 1
1 C (non voting) £1 1 1
1 D (non voting) £1 1 1
44 44

On 18 May 2022 the company repurchased 60 of its Ordinary £1 shares at a market valuation of £600,000. All of those 60 shares were then cancelled.

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 March 2023 563,326 60 563,386
Profit for the year 55,457 55,457
Dividends (2,000 ) (2,000 )
At 29 February 2024 616,783 60 616,843

TIP-N-LIFT (UK) LIMITED (REGISTERED NUMBER: 02574726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2023 - £4,000) were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

The company is not under the control of any one person or persons.