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REGISTERED NUMBER: 04881145 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 AUGUST 2024

FOR

LIFTS UK LIMITED

LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIFTS UK LIMITED

COMPANY INFORMATION
for the Year Ended 30 August 2024







DIRECTOR: P Askew





REGISTERED OFFICE: West View Treswell Road
South Leverton
Retford
Nottinghamshire
DN22 0BP





REGISTERED NUMBER: 04881145 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
50-52 Aire Street
Goole
DN14 5QE

LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

BALANCE SHEET
30 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,554 10,996

CURRENT ASSETS
Stocks 164,750 154,634
Debtors 5 485,515 440,248
650,265 594,882
CREDITORS
Amounts falling due within one year 6 584,226 571,614
NET CURRENT ASSETS 66,039 23,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,593

34,264

PROVISIONS FOR LIABILITIES 815 277
NET ASSETS 77,778 33,987

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 77,777 33,986
SHAREHOLDERS' FUNDS 77,778 33,987

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

BALANCE SHEET - continued
30 August 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 director and authorised for issue on 28 August 2025 and were signed by:





P Askew - Director


LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 August 2024


1. STATUTORY INFORMATION

Lifts UK Limited is a private company limited by shares, incorporated and domiciled in England. It has its registered office and principal place of business at West View, Treswell Road, South Leverton, Retford, DN22 0BP.

The principal activity of the company is lift engineers.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

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.


LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 August 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 26 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 August 2023 223,469
Additions 16,880
Disposals (7,500 )
At 30 August 2024 232,849
DEPRECIATION
At 31 August 2023 212,473
Charge for year 7,822
At 30 August 2024 220,295
NET BOOK VALUE
At 30 August 2024 12,554
At 30 August 2023 10,996

LIFTS UK LIMITED (REGISTERED NUMBER: 04881145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 August 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 477,249 431,977
Other debtors 8,266 8,271
485,515 440,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,824 49,836
Trade creditors 289,126 219,375
Taxation and social security 198,311 262,496
Other creditors 59,965 39,907
584,226 571,614

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed a related party Exchange Trading Company Limited, of whom it shares a director, £29,082 (2023: £29,478).