REGISTERED NUMBER: 02574726 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TIP-N-LIFT (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T A Gallagher

P M Gallagher

REGISTERED OFFICE:

Boss Hall House Boss Hall Road

Sproughton Road

Ipswich

Suffolk

IP1 5BN

REGISTERED NUMBER:

02574726 (England and Wales)

ACCOUNTANTS:

Richard Sexton & Co LLP

3 Manor Road

Colchester

Essex

CO3 3LU

FIXED ASSETS

Tangible assets

4

28,335

36,936

CURRENT ASSETS

Stocks

736,300

679,663

Debtors

5

400,186

242,197

Cash in hand

816,346

516,957

1,952,832

1,438,817

CREDITORS

Amounts falling due within one year

6

1,509,901

853,866

NET CURRENT ASSETS

442,931

584,951

TOTAL ASSETS LESS CURRENT LIABILITIES

471,266

621,887

PROVISIONS FOR LIABILITIES

5,007

5,000

NET ASSETS

466,259

616,887

CAPITAL AND RESERVES

Called up share capital

44

44

Capital redemption reserve

8

60

60

Retained earnings

8

466,155

616,783

SHAREHOLDERS' FUNDS

466,259

616,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 3 September 2025 and were signed on its behalf by:

T A Gallagher - Director

P M Gallagher - Director

1.	STATUTORY INFORMATION

Tip-N-Lift (Uk) 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.

Improvements to property

-

5% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

from 20% to 33% on reducing balance

Office Equipment

-

33% on cost

Government grants

Government grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 11 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Office

property

machinery

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 March 2024

and 28 February 2025

13,480

150,652

64,687

11,300

240,119

DEPRECIATION

At 1 March 2024

11,330

135,247

45,306

11,300

203,183

Charge for year

674

3,081

4,846

-

8,601

At 28 February 2025

12,004

138,328

50,152

11,300

211,784

NET BOOK VALUE

At 28 February 2025

1,476

12,324

14,535

-

28,335

At 29 February 2024

2,150

15,405

19,381

-

36,936

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

341,975

183,652

Other debtors

17,711

17,811

VAT

-

734

359,686

202,197

Amounts falling due after more than one year:

Other debtors

40,500

40,000

Aggregate amounts

400,186

242,197

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

738,351

471,839

Corporation tax

44,970

18,015

Social security and other taxes

31,952

9,634

Other creditors

360,341

140,010

Accruals and deferred income

334,287

214,368

1,509,901

853,866

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

62,750

52,000

Between one and five years

235,312

73,667

298,062

125,667

8.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 March 2024

616,783

60

616,843

Profit for the year

124,372

124,372

Dividends

(275,000

)

(275,000

)

At 28 February 2025

466,155

60

466,215

9.	RELATED PARTY DISCLOSURES

During the year the company paid dividends of £275,000 (2024: £2,000) to its Directors.

10.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any one person or persons.