REGISTERED NUMBER: 10198768 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Easylift Materials Handling Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms E J Routledge

Ms C J Routledge

J J Routledge

S J Routledge

REGISTERED OFFICE:

1 Selby Place

Stanley Industrial Estate

Skelmersdale

WN8 8EF

REGISTERED NUMBER:

10198768 (England and Wales)

FIXED ASSETS

Tangible assets

4

24,474

50,491

CURRENT ASSETS

Debtors

5

23,117

13,868

Cash at bank

20,957

24,522

44,074

38,390

CREDITORS

Amounts falling due within one year

6

148,442

152,592

NET CURRENT LIABILITIES

(104,368

)

(114,202

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(79,894

)

(63,711

)

CREDITORS

Amounts falling due after more than one year

7

228,995

245,702

NET LIABILITIES

(308,889

)

(309,413

)

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

99,900

99,900

Retained earnings

(408,889

)

(409,413

)

SHAREHOLDERS' FUNDS

(308,889

)

(309,413

)

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 7 July 2025 and were signed on its behalf by:

Ms E J Routledge - Director

1.	STATUTORY INFORMATION

Easylift Materials Handling 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.

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 £.

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

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.

Going concern

The company had a net liabilities position at the year end. The directors have considered the current position and have plans to improve the financial position of the business. In the interim, the directors have indicated that they will continue to financially support the company for a period of at least 12 months from the date of approving these financial statements, and therefore the accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

102,370

Disposals

(36,075

)

At 31 December 2024

66,295

DEPRECIATION

At 1 January 2024

51,879

Charge for year

12,415

Eliminated on disposal

(22,473

)

At 31 December 2024

41,821

NET BOOK VALUE

At 31 December 2024

24,474

At 31 December 2023

50,491

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

18,647

12,568

Other debtors

4,470

1,300

23,117

13,868

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

5,496

5,351

Hire purchase contracts

10,519

25,212

Trade creditors

6,523

7,282

Amounts owed to group undertakings

117,585

108,916

Taxation and social security

6,319

3,831

Other creditors

2,000

2,000

148,442

152,592

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

25,995

31,491

Hire purchase contracts

-

11,211

Other creditors

203,000

203,000

228,995

245,702

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,644

14,572

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

10,519

36,423

9.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

There is a fixed and floating charge dated 14 January 2020 which covers all of the property or undertaking of the company's assets in relation to a debenture held by the parent company.

There is a fixed and floating charge dated 19 December 2016 which covers all of the property or undertaking of the company's assets in relation to a debenture held by the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors owed the company £4,470 (2023: 1,300). This loan will be repaid within 9 months and 1 day of the year end and does not attract any interest.

11.	RELATED PARTY DISCLOSURES

Stem Investments Limited

Stem Investments Limited is a company where two of the directors are also directors in the company.

As at the financial year end the company owed Easylift Materials Limited £7,440 (2023: £7,440). The loan is repayable on demand and the rate of interest charged is 0%.

Powerlift Materials Handling Limited

Powerlift Materials Handling Limited is a company where all of the directors are also the directors in the company.

As at the financial year end the company owed Powerlift Materials Handling Limited £140,145 (2023: £131,476). The loan is repayable on demand and the rate of interest charged is 0%.

Powerlift Holdings Ltd

Powerlift Holdings Ltd is a company which owns all the shares within the company.

As at the financial year end the company was owed by Powerlift Holdings Ltd £30,000 (2023: £30,000). The loan is repayable on demand and the rate of interest charged is 0%.

Included within long term creditors is £203,000 (2022: £203,000) owed to the directors by the company. The loan is interest free and and has no fixed date for repayment