17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 36,757 36,757 xbrli:pure xbrli:shares iso4217:GBP 04908474 2023-10-01 2024-09-30 04908474 2024-09-30 04908474 2023-09-30 04908474 2022-10-01 2023-09-30 04908474 2023-09-30 04908474 2022-09-30 04908474 core:NetGoodwill 2023-10-01 2024-09-30 04908474 core:PlantMachinery 2023-10-01 2024-09-30 04908474 core:FurnitureFittings 2023-10-01 2024-09-30 04908474 core:MotorVehicles 2023-10-01 2024-09-30 04908474 bus:Director2 2023-10-01 2024-09-30 04908474 core:NetGoodwill 2024-09-30 04908474 core:LandBuildings 2023-09-30 04908474 core:PlantMachinery 2023-09-30 04908474 core:FurnitureFittings 2023-09-30 04908474 core:MotorVehicles 2023-09-30 04908474 core:LandBuildings 2024-09-30 04908474 core:PlantMachinery 2024-09-30 04908474 core:FurnitureFittings 2024-09-30 04908474 core:MotorVehicles 2024-09-30 04908474 core:WithinOneYear 2024-09-30 04908474 core:WithinOneYear 2023-09-30 04908474 core:AfterOneYear 2024-09-30 04908474 core:AfterOneYear 2023-09-30 04908474 core:ShareCapital 2024-09-30 04908474 core:ShareCapital 2023-09-30 04908474 core:RetainedEarningsAccumulatedLosses 2024-09-30 04908474 core:RetainedEarningsAccumulatedLosses 2023-09-30 04908474 core:LandBuildings 2023-09-30 04908474 core:PlantMachinery 2023-09-30 04908474 core:FurnitureFittings 2023-09-30 04908474 core:MotorVehicles 2023-09-30 04908474 bus:Director2 2024-09-30 04908474 bus:SmallEntities 2023-10-01 2024-09-30 04908474 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04908474 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04908474 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04908474 bus:FullAccounts 2023-10-01 2024-09-30 04908474 core:ComputerEquipment 2023-10-01 2024-09-30 04908474 core:ComputerEquipment 2023-09-30 04908474 core:ComputerEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 04908474
Eastern Lift Services Limited
Filleted Unaudited Financial Statements
30 September 2024
Eastern Lift Services Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
364,193
303,672
Current assets
Stocks
283,864
217,000
Debtors
7
447,549
408,870
Cash at bank and in hand
470,953
618,017
------------
------------
1,202,366
1,243,887
Creditors: amounts falling due within one year
8
739,475
662,722
------------
------------
Net current assets
462,891
581,165
---------
---------
Total assets less current liabilities
827,084
884,837
Creditors: amounts falling due after more than one year
9
53,224
59,216
---------
---------
Net assets
773,860
825,621
---------
---------
Capital and reserves
Called up share capital
300
300
Profit and loss account
773,560
825,321
---------
---------
Shareholders funds
773,860
825,621
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eastern Lift Services Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr M A Read
Director
Company registration number: 04908474
Eastern Lift Services Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6/7 Martells Barns, Slough Lane, Ardleigh, Colchester, Essex, CO7 7RY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 15 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
36,757
--------
Amortisation
At 1 October 2023 and 30 September 2024
36,757
--------
Carrying amount
At 30 September 2024
--------
At 30 September 2023
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
229,457
14,423
3,959
98,822
65,955
412,616
Additions
18,000
82,990
100,990
Disposals
( 27,825)
( 27,825)
---------
--------
-------
---------
--------
---------
At 30 Sep 2024
229,457
32,423
3,959
153,987
65,955
485,781
---------
--------
-------
---------
--------
---------
Depreciation
At 1 Oct 2023
9,542
3,365
39,001
57,036
108,944
Charge for the year
1,221
149
20,891
2,230
24,491
Disposals
( 11,847)
( 11,847)
---------
--------
-------
---------
--------
---------
At 30 Sep 2024
10,763
3,514
48,045
59,266
121,588
---------
--------
-------
---------
--------
---------
Carrying amount
At 30 Sep 2024
229,457
21,660
445
105,942
6,689
364,193
---------
--------
-------
---------
--------
---------
At 30 Sep 2023
229,457
4,881
594
59,821
8,919
303,672
---------
--------
-------
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
246,995
231,670
Amounts owed by group undertakings and undertakings in which the company has a participating interest
170,000
170,000
Other debtors
30,554
7,200
---------
---------
447,549
408,870
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,463
7,463
Trade creditors
50,656
63,306
Corporation tax
109,672
94,082
Social security and other taxes
93,843
110,611
Other creditors - Net Wages
27,935
Other creditors
10,580
Other creditors
477,841
348,745
---------
---------
739,475
662,722
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
53,224
59,216
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M A Read
51,950
( 27,000)
24,950
----
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M A Read
----
----
----
----
11. Related party transactions
There is no ultimate controlling party due to the equal shareholding. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.