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REGISTERED NUMBER: 01282246 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 October 2024

for

Worlifts Limited

Worlifts Limited (Registered number: 01282246)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Worlifts Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: J T Worley
T C Worley
C L Challacombe
M I Whitehouse





REGISTERED OFFICE: Guild House
Sandy Lane
Wildmoor
Bromsgrove
Worcestershire
B61 0QU





REGISTERED NUMBER: 01282246 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Worlifts Limited (Registered number: 01282246)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,222 236,301

CURRENT ASSETS
Stocks 913,736 763,743
Debtors 5 1,040,170 1,812,798
Cash at bank 935,522 1,112,094
2,889,428 3,688,635
CREDITORS
Amounts falling due within one year 6 1,757,623 2,603,750
NET CURRENT ASSETS 1,131,805 1,084,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,027

1,321,186

CREDITORS
Amounts falling due after more than one year 7 (84,908 ) (159,272 )

PROVISIONS FOR LIABILITIES (17,000 ) (42,000 )
NET ASSETS 1,161,119 1,119,914

CAPITAL AND RESERVES
Called up share capital 250 250
Capital redemption reserve 9 150 150
Retained earnings 9 1,160,719 1,119,514
SHAREHOLDERS' FUNDS 1,161,119 1,119,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Worlifts Limited (Registered number: 01282246)

Balance Sheet - continued
31 October 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 11 July 2025 and were signed on its behalf by:





C L Challacombe - Director


Worlifts Limited (Registered number: 01282246)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Worlifts Limited 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.

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.
Short leasehold - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Grants
Grants are recognised in the profit and loss account over the life of the asset.

Worlifts Limited (Registered number: 01282246)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2023 3,348 72,699 37,458
Disposals - - -
At 31 October 2024 3,348 72,699 37,458
DEPRECIATION
At 1 November 2023 3,348 72,699 37,458
Charge for year - - -
Eliminated on disposal - - -
At 31 October 2024 3,348 72,699 37,458
NET BOOK VALUE
At 31 October 2024 - - -
At 31 October 2023 - - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 646,300 165,898 925,703
Disposals (147,592 ) - (147,592 )
At 31 October 2024 498,708 165,898 778,111
DEPRECIATION
At 1 November 2023 438,082 137,815 689,402
Charge for year 83,584 21,495 105,079
Eliminated on disposal (147,592 ) - (147,592 )
At 31 October 2024 374,074 159,310 646,889
NET BOOK VALUE
At 31 October 2024 124,634 6,588 131,222
At 31 October 2023 208,218 28,083 236,301

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,021,509 1,793,350
Other debtors 18,661 19,448
1,040,170 1,812,798

Worlifts Limited (Registered number: 01282246)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 34,487
Hire purchase contracts 74,365 76,329
Trade creditors 880,950 1,755,524
Amounts owed to group undertakings 155 19,444
Taxation and social security 401,024 457,257
Other creditors 401,129 260,709
1,757,623 2,603,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 84,908 159,272

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 34,487
Hire purchase contracts 159,273 235,601
159,273 270,088

Creditors include bank borrowings secured by a fixed charge over book and other debts and a floating charge over all other assets.

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 November 2023 1,119,514 150 1,119,664
Profit for the year 307,205 307,205
Dividends (266,000 ) (266,000 )
At 31 October 2024 1,160,719 150 1,160,869

10. OTHER FINANCIAL COMMITMENTS

The total amounts of commitment, guarantees and contingencies at the year were £307,130
(2023: £86,605)

11. RELATED PARTY DISCLOSURES

At 31 October 2024 the company owed £Nil (2023: £56,266) to the individuals related to the directors.

12. PARENT COMPANY

The company is a wholly owned subsidiary of Worlift Holdings Limited