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REGISTERED NUMBER: 10347888 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Boro Lifts Ltd

Boro Lifts Ltd (Registered number: 10347888)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Boro Lifts Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr A Lockwood
Mr G J Relton





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 10347888 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Boro Lifts Ltd (Registered number: 10347888)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 21,159 35,856

CURRENT ASSETS
Stocks 6,440 9,314
Debtors 5 75,289 39,615
Cash at bank 112,833 77,525
194,562 126,454
CREDITORS
Amounts falling due within one year 6 96,669 98,476
NET CURRENT ASSETS 97,893 27,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,052

63,834

CREDITORS
Amounts falling due after more than one
year

7

(20,860

)

(38,979

)

PROVISIONS FOR LIABILITIES (336 ) (3,097 )
NET ASSETS 97,856 21,758

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 97,756 21,658
SHAREHOLDERS' FUNDS 97,856 21,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Boro Lifts Ltd (Registered number: 10347888)

Balance Sheet - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:




Mr A Lockwood - Director



Mr G J Relton - Director


Boro Lifts Ltd (Registered number: 10347888)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Boro Lifts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Boro Lifts Ltd (Registered number: 10347888)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 76,988
Additions 954
Disposals (17,809 )
At 30 September 2024 60,133
DEPRECIATION
At 1 October 2023 41,132
Charge for year 6,572
Eliminated on disposal (8,730 )
At 30 September 2024 38,974
NET BOOK VALUE
At 30 September 2024 21,159
At 30 September 2023 35,856

Boro Lifts Ltd (Registered number: 10347888)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023 69,484
Disposals (16,198 )
At 30 September 2024 53,286
DEPRECIATION
At 1 October 2023 36,821
Charge for year 6,030
Eliminated on disposal (7,655 )
At 30 September 2024 35,196
NET BOOK VALUE
At 30 September 2024 18,090
At 30 September 2023 32,663

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 52,853 38,352
Other debtors 22,436 1,263
75,289 39,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 8,065 11,590
Trade creditors 6,395 8,713
Taxation and social security 50,275 37,038
Other creditors 25,934 35,135
96,669 98,476

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 4,000 10,000
Hire purchase contracts 16,860 28,979
20,860 38,979

Boro Lifts Ltd (Registered number: 10347888)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr A Lockwood
Balance outstanding at start of year 760 9,290
Amounts advanced 18,638 9,014
Amounts repaid (9,010 ) (17,544 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,388 760

Mr G J Relton
Balance outstanding at start of year - 7,998
Amounts advanced 8,870 9,030
Amounts repaid - (17,028 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,870 -

Mrs H M Relton-Cammish
Balance outstanding at start of year - 7,787
Amounts advanced - 11,041
Amounts repaid - (18,828 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loans are provided interest-free and repayable on demand.