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Registration number: 13980195

Custom Lifts Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Custom Lifts Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Custom Lifts Limited

(Registration number: 13980195)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

           

Fixed assets

   

 

Tangible assets

4

 

22,780

 

219

Current assets

   

 

Debtors

6

3,366

 

3,830

 

Other financial assets

5

26,794

 

34,927

 

Cash at bank and in hand

 

4,473

 

1,415

 

 

34,633

 

40,172

 

Creditors: Amounts falling due within one year

7

(42,955)

 

(42,669)

 

Net current liabilities

   

(8,322)

 

(2,497)

Total assets less current liabilities

   

14,458

 

(2,278)

Creditors: Amounts falling due after more than one year

7

 

(270)

 

-

Provisions for liabilities

 

(3,000)

 

-

Net assets/(liabilities)

   

11,188

 

(2,278)

Capital and reserves

   

 

Called up share capital

9

100

 

100

 

Retained earnings

11,088

 

(2,378)

 

Shareholders' funds/(deficit)

   

11,188

 

(2,278)

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Board on 19 June 2025 and signed on its behalf by:
 

.........................................
D Wade
Director

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
c/o Watson Buckle Limited
York House
Cottingley Business Park
Bradford
BD16 1PE

These financial statements were authorised for issue by the Board on 19 June 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

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.

Tax

The tax expense for the period comprises 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.

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.

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

33% straight line

Motor vehicles

25% reducing balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Motor vehicles
 £

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

-

643

643

Additions

24,042

2,591

26,633

At 31 March 2025

24,042

3,234

27,276

Depreciation

At 1 April 2024

-

424

424

Charge for the year

3,005

1,067

4,072

At 31 March 2025

3,005

1,491

4,496

Carrying amount

At 31 March 2025

21,037

1,743

22,780

At 31 March 2024

-

219

219

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 April 2024

34,927

34,927

Fair value adjustments

(859)

(859)

Additions

83,676

83,676

Disposals

(90,950)

(90,950)

At 31 March 2025

26,794

26,794

Carrying amount

At 31 March 2025

26,794

26,794

At 31 March 2024

34,927

34,927

6

Debtors

Current

2025
£

2024
£

Trade debtors

2,880

3,387

Prepayments

486

443

 

3,366

3,830

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

26,713

18,277

Trade creditors

 

1,530

1,479

Taxation and social security

 

9,031

4,330

Accruals and deferred income

 

5,681

18,583

 

42,955

42,669

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

270

-

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

270

-

Current loans and borrowings

2025
£

2024
£

Bank borrowings

404

-

Other borrowings

26,309

18,277

26,713

18,277

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary A shares of £1 each

75

75

75

75

Ordinary B shares of £1 each

25

25

25

25

100

100

100

100

 

Custom Lifts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Related party transactions

Expenditure with and payables to related parties

2025

Key management
£

Amounts payable to related party

26,310

2024

Key management
£

Amounts payable to related party

18,583