REGISTERED NUMBER: 02570100 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Freeway Lift Services Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

170,164

146,836

CURRENT ASSETS

Stocks

119,388

194,369

Debtors

5

619,585

602,677

Cash at bank and in hand

1,180,044

1,052,769

1,919,017

1,849,815

CREDITORS

Amounts falling due within one year

6

1,392,302

1,317,363

NET CURRENT ASSETS

526,715

532,452

TOTAL ASSETS LESS CURRENT LIABILITIES

696,879

679,288

PROVISIONS FOR LIABILITIES

20,182

9,423

NET ASSETS

676,697

669,865

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

676,597

669,765

SHAREHOLDERS' FUNDS

676,697

669,865

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

J M McCormick - Director

1.	STATUTORY INFORMATION

Freeway Lift Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02570100

Registered office:

30 High Street

Leighton Buzzard

Bedfordshire

LU7 1EA

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.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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 14 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

300,629

Additions

101,750

Disposals

(52,843

)

At 31 December 2024

349,536

DEPRECIATION

At 1 January 2024

153,793

Charge for year

25,579

At 31 December 2024

179,372

NET BOOK VALUE

At 31 December 2024

170,164

At 31 December 2023

146,836

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

532,073

520,768

Other debtors

87,512

81,909

619,585

602,677

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

288,255

267,900

Taxation and social security

98,302

100,012

Other creditors

1,005,745

949,451

1,392,302

1,317,363

7.	RELATED PARTY DISCLOSURES

The property occupied by the company is owned by the two of the directors.. The company paid rent of £37,500 (2023 - £36,000) There is no formal lease.

The dividends are paid to the directors who own the whole of the issued share capital.