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Registered number: 05984603
Tees Valley Lifting & Engineering Services Ltd
Financial Statements
For The Year Ended 31 December 2024
Simply Additions Ltd
E.Volve Business Centre
Rainton Bridge Business Park
Houghton Le Spring
Tyne And Wear
DH4 5QY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05984603
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,108 70,371
66,108 70,371
CURRENT ASSETS
Stocks 5 47,664 47,664
Debtors 6 189,377 252,354
Cash at bank and in hand 85,434 90,751
322,475 390,769
Creditors: Amounts Falling Due Within One Year 7 (34,421 ) (94,557 )
NET CURRENT ASSETS (LIABILITIES) 288,054 296,212
TOTAL ASSETS LESS CURRENT LIABILITIES 354,162 366,583
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,843 ) (14,980 )
NET ASSETS 344,319 351,603
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 344,219 351,503
SHAREHOLDERS' FUNDS 344,319 351,603
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shaun Robinson
Director
29/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tees Valley Lifting & Engineering Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05984603 . The registered office is 8 Carcut Road, Lawson Industrial Estate, Middlesbrough, TS3 6QL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 4% SL
Plant & Machinery 20% RB
Motor Vehicles 25% RB
Fixtures & Fittings 20% RB
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 4
Sales, marketing and distribution 1 2
Manufacturing 4 8
6 14
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 6,625 21,782 94,933 30,476 153,816
Additions 8,110 8,250 - 2,671 19,031
Disposals - - (36,697 ) - (36,697 )
As at 31 December 2024 14,735 30,032 58,236 33,147 136,150
Depreciation
As at 1 January 2024 244 14,327 52,562 16,312 83,445
Provided during the period 557 2,177 9,549 3,102 15,385
Disposals - - (28,788 ) - (28,788 )
As at 31 December 2024 801 16,504 33,323 19,414 70,042
Net Book Value
As at 31 December 2024 13,934 13,528 24,913 13,733 66,108
As at 1 January 2024 6,381 7,455 42,371 14,164 70,371
5. Stocks
2024 2023
as restated
£ £
Stock 47,664 12,000
Materials - 35,664
47,664 47,664
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 181,260 242,270
Prepayments and accrued income 6,048 6,863
Other debtors 1,400 3,221
Other taxes and social security 669 -
189,377 252,354
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 2,735 62,855
Corporation tax - (1,140 )
Other taxes and social security - 7,051
VAT 20,652 7,636
Other creditors 532 885
Accruals and deferred income 6,454 8,185
Directors' loan accounts 508 6,286
Amounts owed to other participating interests 3,540 2,799
34,421 94,557
8. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 5,600 3,267
Later than one year and not later than five years 7,467 -
13,067 3,267
10. Directors Advances, Credits and Guarantees
Lease Guarantor
Both directors have jointly guaranteed any future rent lease payments for the lease for Carcut Road, as listed under lease commitments.
Page 5