Registered number
03570472
Dainton Lift Services Limited
Accounts for the year ended
31 May 2024
Dainton Lift Services Limited
Registered number: 03570472
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 128,629 86,537
Current assets
Work in progress 108,007 -
Debtors 4 172,159 373,171
Cash at bank and in hand 3,299,154 2,788,124
3,579,320 3,161,295
Creditors: amounts falling due within one year 5 (628,290) (529,621)
Net current assets 2,951,030 2,631,674
Total assets less current liabilities 3,079,659 2,718,211
Creditors: amounts falling due after more than one year 6 (48,300) (19,156)
Net assets 3,031,359 2,699,055
Capital and reserves
Called up share capital 200 200
Profit and loss account 3,031,159 2,698,855
Shareholders' funds 3,031,359 2,699,055
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Learmouth
Director
Approved by the board on 2 December 2024
Dainton Lift Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% on written down value
Motor vehicles 25% on written down value
Stock and work in progresss
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2023 30,384 201,842 232,226
Additions - 71,885 71,885
Disposals - (10,093) (10,093)
At 31 May 2024 30,384 263,634 294,018
Depreciation
At 1 June 2023 29,531 116,158 145,689
Charge for the year 213 28,083 28,296
On disposals - (8,596) (8,596)
At 31 May 2024 29,744 135,645 165,389
Net book value
At 31 May 2024 640 127,989 128,629
At 31 May 2023 853 85,684 86,537
4 Debtors 2024 2023
£ £
Trade debtors 162,167 362,722
Other debtors 9,992 10,449
172,159 373,171
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 34,096 7,725
Trade creditors 369,908 271,774
Corporation tax 176,716 157,771
Other taxes and social security costs 39,590 85,031
Other creditors 7,980 7,320
628,290 529,621
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 48,300 19,156
48,300 19,156
7 Controlling party
The ultimate controlling parties of the company are D. Casey and D. Learmouth jointly.
8 Other information
Dainton Lift Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 19, The Beechwood Centre
40 Lower Gravel Road
Bromley
Kent
BR2 8GP
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