2023-06-012024-05-312024-05-31false06902737UK SERVICE LIFTS 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UK SERVICE LIFTS LTD

Registered Number
06902737
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

UK SERVICE LIFTS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

MELLOR, Oliver Peter

Registered Address

Unit 1, Nene Court Enterprise Way
Enterprise Park
Yaxley
PE7 3TJ

Registered Number

06902737 (England and Wales)
UK SERVICE LIFTS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,84625
1,84625
Current assets
Stocks1,093810
Debtors497,93699,876
Cash at bank and on hand57,86356,562
156,892157,248
Creditors amounts falling due within one year5(159,309)(50,685)
Net current assets (liabilities)(2,417)106,563
Total assets less current liabilities(571)106,588
Net assets(571)106,588
Capital and reserves
Called up share capital100100
Profit and loss account(671)106,488
Shareholders' funds(571)106,588
The financial statements were approved and authorised for issue by the Director on 4 November 2024, and are signed on its behalf by:
MELLOR, Oliver Peter
Director
Registered Company No. 06902737
UK SERVICE LIFTS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
UK Service Lifts Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10b, Tesla Court Innovation Way, Lynch Woos, Peterborough, England, PE26FL.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Basis of preparation
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Impairment of non-financial assets policy
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year23
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 23-160160
Additions1982,1152,313
At 31 May 241982,2752,473
Depreciation and impairment
At 01 June 23-135135
Charge for year4488492
At 31 May 244623627
Net book value
At 31 May 241941,6521,846
At 31 May 23-2525
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables49,51079,358
Other debtors46,863-
Prepayments and accrued income1,5631,282
Total97,93680,640
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables146,14615,005
Bank borrowings and overdrafts-1,336
Taxation and social security13,15325,181
Other creditors104,980
Accrued liabilities and deferred income-4,183
Total159,30950,685