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Registered number: 05557726
F & D Lift Interiors Ltd
Financial Statements
For The Year Ended 30 September 2024
Lakelands Accountants
Association of Chartered Certified Accountants
Unit 3c, The Gattinetts
Hadleigh Road
East Bergholt
CO7 6QT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05557726
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,399 17,822
13,399 17,822
CURRENT ASSETS
Stocks 5 18,000 19,500
Debtors 6 109,428 142,965
Cash at bank and in hand 94,787 135,892
222,215 298,357
Creditors: Amounts Falling Due Within One Year 7 (76,024 ) (83,840 )
NET CURRENT ASSETS (LIABILITIES) 146,191 214,517
TOTAL ASSETS LESS CURRENT LIABILITIES 159,590 232,339
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,546 ) (3,386 )
NET ASSETS 157,044 228,953
CAPITAL AND RESERVES
Called up share capital 8 102 102
Profit and Loss Account 156,942 228,851
SHAREHOLDERS' FUNDS 157,044 228,953
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Page 2
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.
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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Fergus Darcy
Director
31 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
F & D Lift Interiors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05557726 . The registered office is Unit 1B The Surridge Centre, 2 Stepfield, Witham, Essex, CM8 3TH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services in respect of the refurbishment of lift interiors. 
Rendering of services
Turnover from the rendering of a contract services is recognised by reference to the stage of completion of the contract. The percentage of completion method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for worked performed to date compared to the estimated total contract costs. 
Where the outcome of a contract can be estimated reliably, revenue costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. 
Where it is probable that total contract costs will exceed contract turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 18,665 117,173 28,223 6,644 170,705
Additions 950 - - - 950
Disposals - (22,289 ) - - (22,289 )
As at 30 September 2024 19,615 94,884 28,223 6,644 149,366
Depreciation
As at 1 October 2023 17,865 101,493 27,926 5,599 152,883
Provided during the period 437 3,694 74 261 4,466
Disposals - (21,382 ) - - (21,382 )
As at 30 September 2024 18,302 83,805 28,000 5,860 135,967
Net Book Value
As at 30 September 2024 1,313 11,079 223 784 13,399
As at 1 October 2023 800 15,680 297 1,045 17,822
5. Stocks
2024 2023
£ £
Materials 10,000 12,000
Work in progress 8,000 7,500
18,000 19,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 92,859 122,028
Other debtors 16,569 20,937
109,428 142,965
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,491 15,372
Other creditors 18,817 16,263
Taxation and social security 27,716 52,205
76,024 83,840
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 19,600 -
Later than one year and not later than five years 24,275 -
43,875 -
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