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Company No: 08139644 (England and Wales)

PREMIER PLATFORM LIFTS UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

PREMIER PLATFORM LIFTS UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

PREMIER PLATFORM LIFTS UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
PREMIER PLATFORM LIFTS UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
Directors C Dolan
S Dolan
A Dolan (Appointed 31 July 2024)
R Plunkett (Appointed 31 July 2024)
Registered office Unit C10 Heathrow Corporate Park
Green Lane
Hounslow
TW4 6ER
United Kingdom
Company number 08139644 (England and Wales)
Accountant Kreston Reeves LLP
37 St Margarets Street
Canterbury
Kent
CT1 2TU
PREMIER PLATFORM LIFTS UK LIMITED

BALANCE SHEET

As at 31 July 2024
PREMIER PLATFORM LIFTS UK LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 46,596 46,942
46,596 46,942
Current assets
Stocks 5 1,134,015 1,062,015
Debtors 6 1,547,454 1,270,836
Cash at bank and in hand 426,277 111,745
3,107,746 2,444,596
Creditors: amounts falling due within one year 7 ( 2,915,884) ( 2,280,577)
Net current assets 191,862 164,019
Total assets less current liabilities 238,458 210,961
Creditors: amounts falling due after more than one year 8 ( 38,333) ( 94,990)
Provision for liabilities ( 8,218) ( 8,218)
Net assets 191,907 107,753
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 191,807 107,653
Total shareholders' funds 191,907 107,753

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Premier Platform Lifts UK Limited (registered number: 08139644) were approved and authorised for issue by the Board of Directors on 02 June 2025. They were signed on its behalf by:

S Dolan
Director
PREMIER PLATFORM LIFTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
PREMIER PLATFORM LIFTS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Premier Platform Lifts UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit C10 Heathrow Corporate Park, Green Lane, Hounslow, TW4 6ER, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expenses in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

The company has entered into a number of contracts in the year in relation to their principle activity which is that of providing lift solutions to both domestic and commercial customers. It is opinion of the directors that the contract is not completed until the installation is commissioned as the client is unable to use the product.

The directors have therefore estimated work in progress at the year end in relation to each contract and on commissioning release this cost along with the associated revenue to the statement of income and retained earnings.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 13

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2023 0 170,672 170,672
Additions 3,772 8,424 12,196
At 31 July 2024 3,772 179,097 182,869
Accumulated depreciation
At 01 August 2023 0 123,730 123,730
Charge for the financial year 754 11,789 12,543
At 31 July 2024 754 135,519 136,273
Net book value
At 31 July 2024 3,018 43,578 46,596
At 31 July 2023 0 46,942 46,942

5. Stocks

2024 2023
£ £
Work in progress 1,134,015 1,062,015

6. Debtors

2024 2023
£ £
Trade debtors 1,413,291 1,079,521
Amounts owed by Group undertakings 0 9,933
CIS suffered 31,831 5,885
Other debtors 102,332 175,497
1,547,454 1,270,836

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 46,000 46,000
Trade creditors 789,609 820,348
Amounts owed to Group undertakings 43,048 226,446
CIS withheld 2,163 0
Taxation and social security 109,671 77,013
Other creditors 1,925,393 1,110,770
2,915,884 2,280,577

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

2024 2023
£ £
Bank loans 38,333 94,990

There are no amounts included above in respect of which any security has been given by the entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
40 Ordinary (A) shares of £ 1.00 each 40 40
20 Ordinary (B) shares of £ 1.00 each 20 20
20 Ordinary (C) shares of £ 1.00 each 20 20
20 Ordinary (D) shares of £ 1.00 each 20 20
100 100

10. Related party transactions

At 30 July 2024, directors owed the company a balance of £121,852 (2023: £53,960)

All directors' remuneration paid by the company during the year was done so under normal market conditions.

11. Ultimate controlling party

The company is controlled by Premier Lift Group Limited by virtue of its majority shareholding.