Company registration number 02707977 (England and Wales)
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
COMPANY INFORMATION
Directors
Mr I Mills
Mrs C I Ince
(Appointed 14 October 2024)
Mr J Plowright
(Appointed 7 April 2025)
Company number
02707977
Registered office
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Accountants
Bryden Johnson Limited
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
Business address
Bourne House
475 Godstone Road
Whyteleafe
CR3 0BL
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 8
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2025.
Principal activities
The principal activity of the company continued to be that of lift & escalator consultant engineers.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr M Baxter
(Resigned 27 September 2024)
Mr I Mills
Mrs C I Ince
(Appointed 14 October 2024)
Mr J Plowright
(Appointed 7 April 2025)
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr I Mills
Director
21 July 2025
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BUTLER & YOUNG LIFT CONSULTANTS LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Butler & Young Lift Consultants Limited for the year ended 31 March 2025 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Butler & Young Lift Consultants Limited, as a body, in accordance with the terms of our engagement letter dated 4 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Butler & Young Lift Consultants Limited and state those matters that we have agreed to state to the board of directors of Butler & Young Lift Consultants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Butler & Young Lift Consultants Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Butler & Young Lift Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Butler & Young Lift Consultants Limited. You consider that Butler & Young Lift Consultants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Butler & Young Lift Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Bryden Johnson Limited
22 July 2025
Chartered Accountants
Kings Parade
Lower Coombe Street
Croydon
Surrey
CR0 1AA
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
£
£
Turnover
1,035,725
963,422
Cost of sales
(511,189)
(584,454)
Gross profit
524,536
378,968
Administrative expenses
(373,705)
(460,892)
Operating profit/(loss)
150,831
(81,924)
Interest receivable and similar income
5,984
9,132
Profit/(loss) before taxation
156,815
(72,792)
Tax on profit/(loss)
(42,392)
10,500
Profit/(loss) for the financial year
114,423
(62,292)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
31,659
55,747
Current assets
Debtors
4
244,539
321,113
Cash at bank and in hand
223,992
539,744
468,531
860,857
Creditors: amounts falling due within one year
5
(147,875)
(140,957)
Net current assets
320,656
719,900
Net assets
352,315
775,647
Capital and reserves
Called up share capital
6
95
95
Profit and loss reserves
352,220
775,552
Total equity
352,315
775,647
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 July 2025 and are signed on its behalf by:
Mr I Mills
Director
Company registration number 02707977 (England and Wales)
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Company information
Butler & Young Lift Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance
1.5
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 current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
10
11
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
47,264
132,065
66,687
246,016
Additions
5,342
5,342
Disposals
(38,187)
(38,187)
At 31 March 2025
47,264
137,407
28,500
213,171
Depreciation and impairment
At 1 April 2024
44,020
121,682
24,567
190,269
Depreciation charged in the year
649
3,583
10,530
14,762
Eliminated in respect of disposals
(23,519)
(23,519)
At 31 March 2025
44,669
125,265
11,578
181,512
Carrying amount
At 31 March 2025
2,595
12,142
16,922
31,659
At 31 March 2024
3,244
10,383
42,120
55,747
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
222,847
295,457
Corporation tax recoverable
10,500
Other debtors
3,543
233
Prepayments and accrued income
18,149
14,923
244,539
321,113
BUTLER & YOUNG LIFT CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
28,138
21,814
Corporation tax
42,392
Other taxation and social security
41,272
74,498
Other creditors
36,073
44,645
147,875
140,957
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
95
95
95
95
7
Related party transactions
Included within other creditors is a balance of £24,881 (2024: £37,903) due to the directors of the company.