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REGISTERED NUMBER: 09271065 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

P&N LIFT INSTALLATIONS LTD.

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 185,239 184,068

CURRENT ASSETS
Debtors 5 175,148 483,863
Cash at bank 64,096 136,714
239,244 620,577
CREDITORS
Amounts falling due within one year 6 (220,833 ) (260,200 )
NET CURRENT ASSETS 18,411 360,377
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,650

544,445

CREDITORS
Amounts falling due after more than one
year

7

(107,150

)

(70,824

)

PROVISIONS FOR LIABILITIES (46,300 ) (46,000 )
NET ASSETS 50,200 427,621

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 50,100 427,521
50,200 427,621

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 24 April 2025 and were signed on its behalf by:



P Felstein - Director


P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

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


1. STATUTORY INFORMATION

P&N Lift Installations Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09271065

Registered office: Unit C3
The Old Stables
Bird in Eye Farm
Uckfield
East Sussex
TN22 5HA

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 measured at the fair value of the consideration received in relation to lift installation, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the service has been completed for the required period.

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

Plant & Machinery - 20% reducing balance
Fixtures & Fittings- 25% straight line
Motor Vehicles- 20% reducing balance
Computer Equipment - 20% reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

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


2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 34,486 - 180,309 21,261 236,056
Additions - 2,867 63,751 2,664 69,282
Disposals - - (41,131 ) - (41,131 )
At 31 October 2024 34,486 2,867 202,929 23,925 264,207
DEPRECIATION
At 1 November 2023 11,279 - 31,710 8,999 51,988
Charge for year 4,641 582 27,119 2,864 35,206
Eliminated on disposal - - (8,226 ) - (8,226 )
At 31 October 2024 15,920 582 50,603 11,863 78,968
NET BOOK VALUE
At 31 October 2024 18,566 2,285 152,326 12,062 185,239
At 31 October 2023 23,207 - 148,599 12,262 184,068

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 77,456 210,408
Other debtors 3,253 17,626
Directors' current accounts - 17,005
VAT 21,788 39,077
Prepayments and accrued income 72,651 199,747
175,148 483,863

P&N LIFT INSTALLATIONS LTD. (REGISTERED NUMBER: 09271065)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 13,606 9,994
Hire purchase contracts 13,932 4,417
Trade creditors 28,901 73,861
Tax 881 79,098
Social security and other taxes 118,353 71,753
Other creditors 44,867 21,077
Directors' current accounts 233 -
Accruals and deferred income 60 -
220,833 260,200

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 10,506 10,247
Bank loans - 2-5 years - 10,506
Hire purchase contracts 96,644 50,071
107,150 70,824