REGISTERED NUMBER: 04327176 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

LIFTWORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs JK Lines

Mr LA Lines

Mr J Brown

Mr P Hann

Mr P Juan

SECRETARY:

Miss A O'Rourke

REGISTERED OFFICE:

Unit 6 Deacon Trading Estate

Knight Road

Strood

Kent

ME2 2AU

REGISTERED NUMBER:

04327176 (England and Wales)

ACCOUNTANTS:

Elliott, Mortlock, Busby & Co Limited

12 High Street

Stanford le Hope

Essex

SS17 0EY

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

661,390

627,931

661,390

627,931

CURRENT ASSETS

Stocks

394,725

183,004

Debtors

7

3,373,040

2,828,755

Cash at bank

1,346,835

1,383,523

5,114,600

4,395,282

CREDITORS

Amounts falling due within one year

8

2,227,734

1,901,713

NET CURRENT ASSETS

2,886,866

2,493,569

TOTAL ASSETS LESS CURRENT LIABILITIES

3,548,256

3,121,500

CREDITORS

Amounts falling due after more than one year

9

(443

)

(10,643

)

PROVISIONS FOR LIABILITIES

10

(152,295

)

(143,753

)

NET ASSETS

3,395,518

2,967,104

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,395,418

2,967,004

SHAREHOLDERS' FUNDS

3,395,518

2,967,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 21 August 2025 and were signed on its behalf by:

Mrs JK Lines - Director

1.	STATUTORY INFORMATION

Liftworks 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company's activities.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2007, was fully amortised over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Capital expenditure on premises

-

10% straight line basis

Plant and equipment

-

25% on reducing balance

Fixtures, fittings and office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.

The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Pension costs and other post-retirement benefits

The company operates two defined contribution pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2024 - 45 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

2,650

AMORTISATION

At 1 June 2024

and 31 May 2025

2,650

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures,

Capital

fittings

expenditure

and

on

Plant and

office

Motor

premises

equipment

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

26,100

81,444

55,188

748,210

910,942

Additions

65,908

18,905

60,719

79,702

225,234

Disposals

-

-

-

(18,357

)

(18,357

)

At 31 May 2025

92,008

100,349

115,907

809,555

1,117,819

DEPRECIATION

At 1 June 2024

26,100

38,574

29,404

188,933

283,011

Charge for year

4,300

13,850

14,615

143,282

176,047

Eliminated on disposal

-

-

-

(2,629

)

(2,629

)

At 31 May 2025

30,400

52,424

44,019

329,586

456,429

NET BOOK VALUE

At 31 May 2025

61,608

47,925

71,888

479,969

661,390

At 31 May 2024

-

42,870

25,784

559,277

627,931

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,751,521

2,352,420

Other debtors

621,519

476,335

3,373,040

2,828,755

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,001

Trade creditors

716,066

633,668

Corporation tax

161,518

520,875

Social security and other taxes

478,478

434,346

Other creditors

53,643

132,795

Directors' current accounts

1,696

2,292

Deferred income

806,333

167,736

2,227,734

1,901,713

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

443

10,000

Bank loans - 2-5 years

-

643

443

10,643

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

152,295

143,753

Deferred

tax

£

Balance at 1 June 2024

143,753

Charge to Income Statement during year

8,542

Balance at 31 May 2025

152,295

The provision for deferred taxation is made up of accelerated capital allowances.

11.	PENSION COMMITMENTS

The company operates two defined contribution pension schemes, for the employees and directors. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date there were £22,891 unpaid contributions (2024: £27,411).

12.	COMMITMENTS, GUARANTEES AND CONTINGENCIES

The Company has a total commitments, guarantees and contingencies as at year end 2025 of £135,133 (2024: £147,261)

Included in the above are minimum lease payments under non-cancellable operating leases, falling due as follows:

2025

2024

£

£

Within one year

74,485

62,576

Between one and five years

60,648

84,685

More than five years

-

-

135.133

147,261

13.	RELATED PARTY DISCLOSURES

Included in debtors is a loan of £564,046 (2024 £392,189) to a Company under the control of the directors. The loan is interest free and repayable on demand.