Majorlift Hydraulic Equipment Limited 01358382 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the design and manufacture of a range of garage lifting equipment marketed under the brand name Majorlift. Majorlift are also importers of the Compac range of jacking and garage equipment manufactured in Denmark, which compliments the Majorlift brand. Digita Accounts Production Advanced 6.30.9574.0 true true 01358382 2024-04-01 2025-03-31 01358382 2025-03-31 01358382 bus:OrdinaryShareClass1 2025-03-31 01358382 core:CurrentFinancialInstruments 2025-03-31 01358382 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 01358382 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 01358382 core:WithinOneYear 2025-03-31 01358382 core:FurnitureFittings 2025-03-31 01358382 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 01358382 core:MotorVehicles 2025-03-31 01358382 core:OfficeEquipment 2025-03-31 01358382 core:PlantMachinery 2025-03-31 01358382 bus:SmallEntities 2024-04-01 2025-03-31 01358382 bus:Audited 2024-04-01 2025-03-31 01358382 bus:FilletedAccounts 2024-04-01 2025-03-31 01358382 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 01358382 bus:RegisteredOffice 2024-04-01 2025-03-31 01358382 bus:Chairman 2024-04-01 2025-03-31 01358382 bus:CompanySecretaryDirector2 2024-04-01 2025-03-31 01358382 bus:Director3 2024-04-01 2025-03-31 01358382 bus:Director4 2024-04-01 2025-03-31 01358382 bus:Director5 2024-04-01 2025-03-31 01358382 bus:Director7 2024-04-01 2025-03-31 01358382 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 01358382 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01358382 bus:Agent1 2024-04-01 2025-03-31 01358382 core:ComputerEquipment 2024-04-01 2025-03-31 01358382 core:FurnitureFittings 2024-04-01 2025-03-31 01358382 core:LandBuildings 2024-04-01 2025-03-31 01358382 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 01358382 core:MotorVehicles 2024-04-01 2025-03-31 01358382 core:OfficeEquipment 2024-04-01 2025-03-31 01358382 core:PlantMachinery 2024-04-01 2025-03-31 01358382 core:OtherRelatedParties 2024-04-01 2025-03-31 01358382 core:ParentEntities 2024-04-01 2025-03-31 01358382 1 2024-04-01 2025-03-31 01358382 countries:AllCountries 2024-04-01 2025-03-31 01358382 2024-03-31 01358382 core:FurnitureFittings 2024-03-31 01358382 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 01358382 core:MotorVehicles 2024-03-31 01358382 core:OfficeEquipment 2024-03-31 01358382 core:PlantMachinery 2024-03-31 01358382 2023-04-01 2024-03-31 01358382 2024-03-31 01358382 bus:OrdinaryShareClass1 2024-03-31 01358382 core:CurrentFinancialInstruments 2024-03-31 01358382 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01358382 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01358382 core:WithinOneYear 2024-03-31 01358382 core:FurnitureFittings 2024-03-31 01358382 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 01358382 core:MotorVehicles 2024-03-31 01358382 core:OfficeEquipment 2024-03-31 01358382 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01358382

Majorlift Hydraulic Equipment Limited
Annual Report and Financial Statements
for the Year Ended 31 March 2025

Majorlift Hydraulic Equipment Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 10

Majorlift Hydraulic Equipment Limited

Company Information

Chairman | W H Gardiner

Directors | L M Abel Smith T J W Southgate E V D Abel Smith D McLean S V Bowcock

Company secretary | D McLean

Registered office | Arnolds Field Estate Wickwar Wotton-Under-Edge Gloucestershire GL12 8JD

Auditors | Roberts & Co (Bristol) Limited Chartered Accountants & Statutory Auditors24 High Street Chipping Sodbury Bristol BS37 6AH

Majorlift Hydraulic Equipment Limited

(Registration number: 01358382)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,174,495 | 1,239,396
Current assets |  |  |
Stocks | 5 | 1,430,216 | 954,120
Debtors | 6 | 2,564,895 | 2,381,638
Cash at bank and in hand |  | 170,870 | 6,876
|  | 4,165,981 | 3,342,634
Creditors: Amounts falling due within one year | 7 | (1,687,348) | (1,191,102)
Net current assets |  | 2,478,633 | 2,151,532
Total assets less current liabilities |  | 3,653,128 | 3,390,928
Creditors: Amounts falling due after more than one year | 7 | (111,566) | (191,521)
Provisions for liabilities |  | (159,987) | (182,932)
Net assets |  | 3,381,575 | 3,016,475
Capital and reserves |  |  |
Called up share capital | 8 | 30,100 | 30,100
Revaluation reserve |  | 52,808 | 59,082
Retained earnings |  | 3,298,667 | 2,927,293
Shareholders' funds |  | 3,381,575 | 3,016,475

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.

Approved and authorised by the Board on 11 November 2025 and signed on its behalf by:

......................................... W H Gardiner Chairman

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

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

The address of its registered office is:
Arnolds Field Estate
Wickwar
Wotton-Under-Edge
Gloucestershire
GL12 8JD
England

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.

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 11 November 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

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.

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
Freehold Property | 2% straight line
Plant and machinery | 15% reducing balance
Fixtures and fittings | 15% reducing balance
Motor vehicles | 25% reducing balance
Computer hardware and software | 50% reducing balance

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.

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 65 (2024 - 64).

4 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £
Cost or valuation
At 1 April 2024 | 598,714 | 273,437 | 1,263,093 | 253,991
Additions | - | 6,006 | 10,115 | 19,934
Disposals | - | - | (10,634) | -
At 31 March 2025 | 598,714 | 279,443 | 1,262,574 | 273,925
Depreciation
At 1 April 2024 | 91,044 | 163,447 | 711,336 | 233,748
Charge for the year | 10,694 | 17,399 | 84,643 | 17,930
Eliminated on disposal | - | - | (9,424) | -
At 31 March 2025 | 101,738 | 180,846 | 786,555 | 251,678
Carrying amount
At 31 March 2025 | 496,976 | 98,597 | 476,019 | 22,247
At 31 March 2024 | 507,670 | 109,990 | 551,757 | 20,243

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4 | Tangible assets (continued)

| Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 139,046 | 2,528,281
Additions | 56,534 | 92,589
Disposals | (28,145) | (38,779)
At 31 March 2025 | 167,435 | 2,582,091
Depreciation
At 1 April 2024 | 89,310 | 1,288,885
Charge for the year | 21,505 | 152,171
Eliminated on disposal | (24,036) | (33,460)
At 31 March 2025 | 86,779 | 1,407,596
Carrying amount
At 31 March 2025 | 80,656 | 1,174,495
At 31 March 2024 | 49,736 | 1,239,396

Included within the net book value of land and buildings above is £496,976 (2024 - £507,670) in respect of freehold land and buildings.

5 | Stocks

| 2025 £ | 2024 £
Stock | 1,430,216 | 954,120

6 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 1,116,050 | 942,672
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 10 | 1,415,333 | 1,415,333
Prepayments |  | 33,512 | 23,633
|  | 2,564,895 | 2,381,638

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 723,352 | 318,406
Trade creditors |  | 422,715 | 367,807
Taxation and social security |  | 463,864 | 365,943
Accruals and deferred income |  | 77,417 | 138,946
|  | 1,687,348 | 1,191,102

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £682,998 (2024 - £262,456).

Bank loans and overdrafts are secured by way of a charge over the assets of the company.
Hire purchase assets are secured on the assets to which they relate.

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 111,566 | 191,521

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £108,147 (2024 - £147,749).

Majorlift Hydraulic Equipment Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 30,100 | 30,100 | 30,100 | 30,100

9 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 4,500 | 4,500

The amount of non-cancellable operating lease payments recognised as an expense during the year was £18,000 (2024 - £18,000).

10 | Related party transactions

Summary of transactions with parent

At the year end date the company was owed a balance of £1,415,333 (2024 - £1,415,333) by its 100% parent company, Majorlift Holdings Limited.

Summary of transactions with other related parties

During the year the company leased premises owned by the directors' pension fund. Rent payable in the year amounted to £18,000 (2024 - £18,000).

11 | Parent and ultimate parent undertaking

The company's immediate parent is Majorlift Holdings Limited, incorporated in England & Wales.
The most senior parent entity producing publicly available financial statements is Majorlift Holdings Limited. These financial statements are available upon request from Companies House website https://find-and-update.company-information.service.gov.uk/company/04616837