Industrial Lifting Limited 13855089 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is manufacture of lifting and handling equipment. Digita Accounts Production Advanced 6.30.9574.0 true 13855089 2023-10-01 2024-09-30 13855089 2024-09-30 13855089 core:RetainedEarningsAccumulatedLosses 2024-09-30 13855089 core:ShareCapital 2024-09-30 13855089 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 13855089 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 13855089 core:CurrentFinancialInstruments 2024-09-30 13855089 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13855089 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 13855089 core:FurnitureFittingsToolsEquipment 2024-09-30 13855089 core:MotorVehicles 2024-09-30 13855089 core:OtherPropertyPlantEquipment 2024-09-30 13855089 bus:SmallEntities 2023-10-01 2024-09-30 13855089 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13855089 bus:FilletedAccounts 2023-10-01 2024-09-30 13855089 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13855089 bus:RegisteredOffice 2023-10-01 2024-09-30 13855089 bus:Director1 2023-10-01 2024-09-30 13855089 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13855089 core:FurnitureFittings 2023-10-01 2024-09-30 13855089 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 13855089 core:MotorVehicles 2023-10-01 2024-09-30 13855089 core:OfficeEquipment 2023-10-01 2024-09-30 13855089 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 13855089 core:PlantMachinery 2023-10-01 2024-09-30 13855089 countries:EnglandWales 2023-10-01 2024-09-30 13855089 2023-09-30 13855089 core:FurnitureFittingsToolsEquipment 2023-09-30 13855089 core:MotorVehicles 2023-09-30 13855089 core:OtherPropertyPlantEquipment 2023-09-30 13855089 2022-10-01 2023-09-30 13855089 2023-09-30 13855089 core:RetainedEarningsAccumulatedLosses 2023-09-30 13855089 core:ShareCapital 2023-09-30 13855089 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 13855089 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 13855089 core:CurrentFinancialInstruments 2023-09-30 13855089 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13855089 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 13855089 core:FurnitureFittingsToolsEquipment 2023-09-30 13855089 core:MotorVehicles 2023-09-30 13855089 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 13855089

Industrial Lifting Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Industrial Lifting Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Industrial Lifting Limited

(Registration number: 13855089)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,443,564

1,198,514

Current assets

 

Stocks

5

50,000

50,000

Debtors

6

765,784

731,304

Cash at bank and in hand

 

33,512

1,076,419

 

849,296

1,857,723

Creditors: Amounts falling due within one year

7

(1,495,611)

(1,611,537)

Net current (liabilities)/assets

 

(646,315)

246,186

Total assets less current liabilities

 

797,249

1,444,700

Creditors: Amounts falling due after more than one year

7

(52,462)

(819,721)

Provisions for liabilities

(360,892)

(299,629)

Net assets

 

383,895

325,350

Capital and reserves

 

Called up share capital

100

100

Retained earnings

383,795

325,250

Shareholders' funds

 

383,895

325,350

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Industrial Lifting Limited

(Registration number: 13855089)
Balance Sheet as at 30 September 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 May 2025
 

.........................................
Mr K R Wardrobe
Director

 

Industrial Lifting Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Industrial Lifting Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

10% Straight Line

Furniture, Fittings and equipment

10% Straight Line

Motor Vehicles

25% Reducing Balance

Plant and Machinery

20% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Industrial Lifting Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2023 - 25).

 

Industrial Lifting Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

70,785

700,642

786,895

1,558,322

Additions

31,802

418,243

320,952

770,997

Disposals

-

(226,677)

(11,546)

(238,223)

At 30 September 2024

102,587

892,208

1,096,301

2,091,096

Depreciation

At 1 October 2023

10,236

202,723

146,849

359,808

Charge for the year

7,963

155,403

200,426

363,792

Eliminated on disposal

-

(75,106)

(962)

(76,068)

At 30 September 2024

18,199

283,020

346,313

647,532

Carrying amount

At 30 September 2024

84,388

609,188

749,988

1,443,564

At 30 September 2023

60,549

497,919

640,046

1,198,514

5

Stocks

2024
£

2023
£

Other inventories

50,000

50,000

6

Debtors

2024
£

2023
£

Trade debtors

651,612

652,065

Other debtors

8,580

-

Prepayments

105,592

79,239

765,784

731,304

 

Industrial Lifting Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

13,926

20,593

Trade creditors

 

232,638

326,701

Amounts owed to group undertakings

884,745

750,511

Taxation and social security

 

309,257

476,754

Accruals and deferred income

 

55,045

36,978

 

1,495,611

1,611,537

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

52,462

69,721

Owed to group undertakings

 

-

750,000

 

52,462

819,721

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

52,462

69,721

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

13,926

20,593