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REGISTERED NUMBER: 02771066 (England and Wales)














Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 30 April 2024

for

Lift Monitoring Systems Ltd

Lift Monitoring Systems Ltd (Registered number: 02771066)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Profit and Loss Account 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Lift Monitoring Systems Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr R A Skelson





REGISTERED OFFICE: Unit 1 Galverston Grove
Oldfield Business Park
Stoke-on-Trent
Staffordshire
ST4 3PE





REGISTERED NUMBER: 02771066 (England and Wales)





AUDITORS: Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

Lift Monitoring Systems Ltd (Registered number: 02771066)

Strategic Report
for the Year Ended 30 April 2024

The director presents his strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
As at the 1st November 2022, the directors made a decision to hive up the trade and assets from Lift Monitoring Ltd into R J Lifts Group Limited.

Key performance indicators are gross profit.

2024 2023
- Gross profit nil% 17.8%

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have identified the key risks faced by the company to be market risk, financial risk, credit risk and exchange rate risk.

The company has continued good relationships with customers, suppliers, facility providers, and its loyal and stable workforce.

Those factors considered, the directors feel that they are able to continue to minimise any risk and uncertainties to the company moving forward.

The directors are constantly monitoring both the quality and price of the products it acquires and the range of services it supplies, to minimise the market risk.

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

The company's policy throughout the year has been to monitor and manage its bank funds in the context of its trading activity and avoid incurring unnecessary overdraft interest, whilst also funding the repayment of hire purchase obligations.

The principal credit risk arises from its trade debtors. In order to manage credit risk, the directors set limits for its customers based on a combination of payment history and third party credit references. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt ageing and collection history. During the year, credit risk exposure was spread over a range of customers.

FUTURE DEVELOPMENTS

The company is to remain a dormant company for the future with all trade and assets going to R J Lifts Group Ltd.

ON BEHALF OF THE BOARD:





Mr R A Skelson - Director


28 January 2025

Lift Monitoring Systems Ltd (Registered number: 02771066)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of lift servicing and repairs.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

DIRECTOR
Mr R A Skelson held office during the whole of the period from 1 May 2023 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT
Future developments and principal risks and uncertainties are disclosed in the Strategic Report.

The company has chosen in accordance with section 414(c) of the Companies Act 2006 (Strategic and Directors Report) Regulations 2013 to set out in the company's Strategic Report information required by schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Thompson Wright Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr R A Skelson - Director


28 January 2025

Report of the Independent Auditors to the Members of
Lift Monitoring Systems Ltd

Opinion
We have audited the financial statements of Lift Monitoring Systems Ltd (the 'company') for the year ended 30 April 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Lift Monitoring Systems Ltd


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Lift Monitoring Systems Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the Senior Statutory Auditor ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, vehicle operators licence, anti-bribery, employment, other industry specific accreditations and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-reading the minutes of meetings of those charged with governance;

-enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Lift Monitoring Systems Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

28 January 2025

Lift Monitoring Systems Ltd (Registered number: 02771066)

Profit and Loss Account
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 3 - 12,615,384

Cost of sales - 10,364,709
GROSS PROFIT - 2,250,675

Administrative expenses - 4,025,830
OPERATING LOSS 5 - (1,775,155 )

Interest receivable and similar income - 1
- (1,775,154 )

Interest payable and similar expenses 6 - 795
LOSS BEFORE TAXATION - (1,775,949 )

Tax on loss 7 - 14,819
LOSS FOR THE FINANCIAL YEAR - (1,790,768 )

Lift Monitoring Systems Ltd (Registered number: 02771066)

Other Comprehensive Income
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

LOSS FOR THE YEAR - (1,790,768 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR - (1,790,768 )

Lift Monitoring Systems Ltd (Registered number: 02771066)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 9 249,288 249,288
TOTAL ASSETS LESS CURRENT LIABILITIES 249,288 249,288

CREDITORS
Amounts falling due after more than one year 10 245,181 245,181
NET ASSETS 4,107 4,107

CAPITAL AND RESERVES
Called up share capital 11 4,087 4,087
Capital redemption reserve 12 20 20
SHAREHOLDERS' FUNDS 4,107 4,107

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





Mr R A Skelson - Director


Lift Monitoring Systems Ltd (Registered number: 02771066)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 May 2022 4,087 3,605,314 20 3,609,421

Changes in equity
Dividends - (1,814,546 ) - (1,814,546 )
Total comprehensive income - (1,790,768 ) - (1,790,768 )
Balance at 30 April 2023 4,087 - 20 4,107

Changes in equity
Balance at 30 April 2024 4,087 - 20 4,107

Lift Monitoring Systems Ltd (Registered number: 02771066)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Lift Monitoring Systems Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, therefore the financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract. Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as the contract actually progresses.

Turnover is attributable to the principal activity of the company which is carried out entirely within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Lift Monitoring Systems Ltd (Registered number: 02771066)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments, including other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured at the difference between an asset's carrying amount and the present value of estimated cash flows.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expires or are settled, or (b) substantially all risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is, when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Lift Monitoring Systems Ltd (Registered number: 02771066)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business for the year ended 30 April 2023 is given below:

£   
Breakdowns/Maintenance 4,350,000
Major Works 8,265,384
12,615,384

This analysis is not considered to be applicable to the year ended 30 April 2024.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries - 7,495,995
Social security costs - 826,100
Other pension costs - 143,493
- 8,465,588

The average number of employees during the year was as follows:
2024 2023

Directors - 1
Admin - 58
Engineers - 151
- 210

2024 2023
£    £   
Director's remuneration - 23,969
Director's pension contributions to money purchase schemes - 60

5. OPERATING LOSS

The operating loss is stated after charging:

2024 2023
£    £   
Hire of plant and machinery - 95,838
Other operating leases - 68,304
Depreciation - owned assets - 274,417
Loss on disposal of fixed assets - 4,048
Foreign exchange differences - 2,495

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest charged on late
corporation tax - 795
- 795

Lift Monitoring Systems Ltd (Registered number: 02771066)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Deferred tax - 14,819
Tax on loss - 14,819

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is the same as the standard rate of corporation tax in the UK.

2024 2023
£    £   
Loss before tax - (1,775,949 )
Loss multiplied by the standard rate of corporation tax in the UK of 19% (2023 -
19%)

-

(337,430

)

Effects of:
Expenses not deductible for tax purposes - 1,443
Depreciation in excess of capital allowances - 42,355
Group relief - 308,451

Total tax charge - 14,819

8. DIVIDENDS
2024 2023
£    £   
A ordinary shares of £1 each
Interim - 1,724,485
B ordinary shares of £1 each
Interim - 90,061
- 1,814,546

9. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 4,107 4,107
Other debtors 245,181 -
249,288 4,107

Amounts falling due after more than one year:
Other debtors - 245,181

Aggregate amounts 249,288 249,288

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Accruals and deferred income 245,181 245,181

Lift Monitoring Systems Ltd (Registered number: 02771066)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,080 A ordinary £1 4,080 4,080
7 B ordinary £1 7 7
4,087 4,087

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

At 1 May 2023 - 20 20
Profit for the year - -
At 30 April 2024 - 20 20

13. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for its directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

14. OTHER FINANCIAL COMMITMENTS

The company is party to a cross guarantee between the ultimate controlling party and its loan note holder being Mr R Skelson. At the year end, the group's cross guarantee to the loan note holder amounted to £2,250,000 (2023 - £2,250,000).

The company is party to a cross guarantee with its bankers in respect to loans made to the ultimate controlling party. At the year end, the group's bank lenders cross guarantee amounted to £7,200,000 (2023 - £8,550,000).

15. ULTIMATE CONTROLLING PARTY

The controlling party is RJ Lifts Group Limited. Copies of the consolidated financial statements can be obtained from R J Lifts Group Limited, Unit 1, Galveston Grove Oldfields Business Park, Fenton, Stoke-On-Trent, Staffordshire, United Kingdom, ST4 3PE.

R J Lifts Group Limited Employee Ownership Trust is considered to be the ultimate controlling party by virtue of its 100% ownership of R J Lifts Group Limited.