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REGISTERED NUMBER: 03598569 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

SUTCH LIFTING EQUIPMENT LIMITED

SUTCH LIFTING EQUIPMENT LIMITED (REGISTERED NUMBER: 03598569)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUTCH LIFTING EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mrs T Wilson
Mr A C Wilson
Mrs F Hamilton





SECRETARY: Mrs M E Sutch





REGISTERED OFFICE: Unit 18 Millbrook Close
St James Mill Road
Northampton
NN5 5JF





REGISTERED NUMBER: 03598569 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

SUTCH LIFTING EQUIPMENT LIMITED (REGISTERED NUMBER: 03598569)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,799 76,432

CURRENT ASSETS
Stocks 161,426 144,114
Debtors 5 259,732 262,881
Cash at bank and in hand 87,605 128,840
508,763 535,835
CREDITORS
Amounts falling due within one year 6 374,616 353,258
NET CURRENT ASSETS 134,147 182,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,946

259,009

PROVISIONS FOR LIABILITIES 22,700 19,108
NET ASSETS 202,246 239,901

CAPITAL AND RESERVES
Called up, fully paid share capital 10,000 10,000
Retained earnings 192,246 229,901
SHAREHOLDERS' FUNDS 202,246 239,901

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





Mrs F Hamilton - Director


SUTCH LIFTING EQUIPMENT LIMITED (REGISTERED NUMBER: 03598569)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Sutch Lifting Equipment 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on reducing balance
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - at variable rates on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost and 15% 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 Statement of Income and Retained Earnings, 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.

SUTCH LIFTING EQUIPMENT LIMITED (REGISTERED NUMBER: 03598569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 August 2023 2,052 175,606 21,867
Additions - 4,957 -
At 31 July 2024 2,052 180,563 21,867
DEPRECIATION
At 1 August 2023 1,904 143,985 21,867
Charge for year 15 5,007 -
At 31 July 2024 1,919 148,992 21,867
NET BOOK VALUE
At 31 July 2024 133 31,571 -
At 31 July 2023 148 31,621 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 123,193 140,197 462,915
Additions 25,840 1,289 32,086
At 31 July 2024 149,033 141,486 495,001
DEPRECIATION
At 1 August 2023 79,908 138,819 386,483
Charge for year 12,103 594 17,719
At 31 July 2024 92,011 139,413 404,202
NET BOOK VALUE
At 31 July 2024 57,022 2,073 90,799
At 31 July 2023 43,285 1,378 76,432

SUTCH LIFTING EQUIPMENT LIMITED (REGISTERED NUMBER: 03598569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 236,896 242,269
Other debtors 22,836 20,612
259,732 262,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 137,927 129,014
Taxation and social security 45,049 59,292
Other creditors 191,640 164,952
374,616 353,258

7. LEASING AGREEMENTS

As at 31 July 2024 the company was committed to making payments of £16,191 (2023 - £80,236) under non-cancellable operating leases.

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 119,428 92,387

There is a fixed and floating charge in the form of a debenture dated 11.9.98 in favour of Barclays Bank PLC.

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed a shareholder £48,896 (2023 - £48,896). This loan is interest free. There are no fixed repayment terms.