ARROW LIFT ENGINEERS LIMITED

Company Registration Number:
03563387 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

ARROW LIFT ENGINEERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Additional notes
Balance sheet notes

ARROW LIFT ENGINEERS LIMITED

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 1 1
Tangible assets: 4 318,745 167,638
Total fixed assets: 318,746 167,639
Current assets
Stocks: 5 187,614 407,476
Debtors: 6 992,960 723,628
Cash at bank and in hand: 809,891 258,150
Total current assets: 1,990,465 1,389,254
Creditors: amounts falling due within one year: 7 ( 1,237,058 ) ( 898,334 )
Net current assets (liabilities): 753,407 490,920
Total assets less current liabilities: 1,072,153 658,559
Creditors: amounts falling due after more than one year: 8 ( 88,119 ) ( 6,698 )
Provision for liabilities: ( 63,394 ) ( 24,353 )
Total net assets (liabilities): 920,640 627,508
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 919,640 626,508
Total Shareholders' funds: 920,640 627,508

The notes form part of these financial statements

ARROW LIFT ENGINEERS LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 February 2025
and signed on behalf of the board by:

Name: I J Phillips
Status: Director

The notes form part of these financial statements

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    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. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Tangible fixed assets depreciation policy

    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: Leasehold improvements 5% per annum on cost Fixtures and fittings 10% / 20% per annum on cost / net book value Motor vehicles 25% per annum on net book value The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Intangible fixed assets amortisation policy

    Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 18 14

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 June 2023 72,985 72,985
Additions
Disposals
Revaluations
Transfers
At 31 May 2024 72,985 72,985
Amortisation
At 1 June 2023 72,984 72,984
Charge for year
On disposals
Other adjustments
At 31 May 2024 72,984 72,984
Net book value
At 31 May 2024 1 1
At 31 May 2023 1 1

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 22,051 337,737 359,788
Additions 236,364 236,364
Disposals ( 109,758 ) ( 109,758 )
Revaluations
Transfers
At 31 May 2024 22,051 464,343 486,394
Depreciation
At 1 June 2023 1,670 190,480 192,150
Charge for year 1,100 67,380 68,480
On disposals ( 92,981 ) ( 92,981 )
Other adjustments
At 31 May 2024 2,770 164,879 167,649
Net book value
At 31 May 2024 19,281 299,464 318,745
At 31 May 2023 20,381 147,257 167,638

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Stocks

2024 2023
£ £
Stocks 187,614 407,476
Total 187,614 407,476

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Debtors

2024 2023
£ £
Trade debtors 616,220 228,259
Other debtors 376,740 495,369
Total 992,960 723,628

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 86,267 18,688
Trade creditors 523,059 321,281
Taxation and social security 176,158 143,361
Accruals and deferred income 422,223 141,035
Other creditors 29,351 273,969
Total 1,237,058 898,334

ARROW LIFT ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

8. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 88,119 6,698
Total 88,119 6,698