Registration number: 06749016

Hoist Mech Ltd

(Registration number: 06749016)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	275,872	273,863
Current assets
Stocks		40,982	38,101
Debtors	5	232,938	290,830
Cash at bank and in hand		137,609	89,723
		411,529	418,654
Creditors: Amounts falling due within one year	6	(130,445)	(147,556)
Net current assets		281,084	271,098
Total assets less current liabilities		556,956	544,961
Creditors: Amounts falling due after more than one year	6	(6,161)	(16,515)
Provisions for liabilities		(53,218)	(56,114)
Net assets		497,577	472,332
Capital and reserves
Called up share capital	7	100	100
Retained earnings		497,477	472,232
Shareholders' funds		497,577	472,332

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Hoist Mech Ltd

(Registration number: 06749016)
Balance Sheet as at 31 December 2024 (continued)

Approved and authorised by the Board on 19 September 2025 and signed on its behalf by:
 

Mr C J Knight Director

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Brook Farm
Drayton Road
Newton Longville
Milton Keynes
Buckinghamshire
MK17 0BH

These financial statements were authorised for issue by the Board on 19 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance
Leasehold improvements	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Short leasehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	33,030	540,085	118,859	691,974
Additions	943	93,704	-	94,647
Disposals	-	(30,400)	-	(30,400)
At 31 December 2024	33,973	603,389	118,859	756,221
Depreciation
At 1 January 2024	3,511	349,427	65,173	418,111
Charge for the year	1,700	68,976	13,422	84,098
Eliminated on disposal	-	(21,860)	-	(21,860)
At 31 December 2024	5,211	396,543	78,595	480,349
Carrying amount
At 31 December 2024	28,762	206,846	40,264	275,872
At 31 December 2023	29,519	190,658	53,686	273,863

5

Debtors

Current	2024 £	2023 £
Trade debtors	184,693	261,072
Prepayments	17,737	-
Other debtors	30,508	29,758
	232,938	290,830

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	10,355	10,097
Trade creditors		67,748	72,777
Taxation and social security		48,439	58,779
Accruals and deferred income		1,300	3,300
Other creditors		2,603	2,603
		130,445	147,556

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	6,161	16,515

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Hoist Mech Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	6,161	16,515

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	10,355	10,097