Independent Lifting Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04248573

Independent Lifting Services Limited

Unaudited financial statements

30 June 2025

Independent Lifting Services Limited

Statement of financial position

30 June 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		103,721		113,563

Current assets

Stocks		113,929	122,909
Debtors	7	276,168	250,382
Cash at bank and in hand		408,393	437,211
		---------	---------
		798,490	810,502

Creditors: Amounts falling due within one year	8	( 349,851)		( 361,667)
		---------		---------
Net current assets			448,639		448,835
			---------		---------
Total assets less current liabilities			552,360		562,398

Provisions

Taxation including deferred tax	( 3,464)	( 4,950)
	---------	---------
Net assets	548,896	557,448
	---------	---------

Capital and reserves

Called up share capital	9	10,000	10,000
Profit and loss account		538,896	547,448
		---------	---------
Shareholders funds		548,896	557,448
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 June 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Independent Lifting Services Limited

Statement of financial position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 26 November 2025 , and are signed on behalf of the board by:

Mrs J Tedstone	Mr N Brown
Director	Director

Mr M Brown
Director

Company registration number: 04248573

Independent Lifting Services Limited

Notes to the financial statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of both the registered office and trading address is Units 3 & 4 James Court, Faraday Road, Great Yarmouth, England NR31 0NF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures and fittings	-	15% Straight line and 33.33% Straight line
Motor vehicles	-	25% reducing balance
Tools and equipment	-	15% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 17 (2024: 16 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 July 2024 and 30 June 2025	214,000
	---------
Amortisation
At 1 July 2024 and 30 June 2025	214,000
	---------
Carrying amount
At 30 June 2025	–
	---------
At 30 June 2024	–
	---------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Tools and Equipment	Total
	£	£	£	£	£
Cost
At 1 July 2024	165,000	34,726	35,337	152,968	388,031
Additions	–	1,244	–	–	1,244
	---------	-------	-------	---------	---------
At 30 June 2025	165,000	35,970	35,337	152,968	389,275
	---------	-------	-------	---------	---------
Depreciation
At 1 July 2024	73,425	31,544	18,636	150,863	274,468
Charge for the year	3,300	2,989	4,175	622	11,086
	---------	-------	-------	---------	---------
At 30 June 2025	76,725	34,533	22,811	151,485	285,554
	---------	-------	-------	---------	---------
Carrying amount
At 30 June 2025	88,275	1,437	12,526	1,483	103,721
	---------	-------	-------	---------	---------
At 30 June 2024	91,575	3,182	16,701	2,105	113,563
	---------	-------	-------	---------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	275,622	249,291
Other debtors	546	1,091
	---------	---------
	276,168	250,382
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	108,652	82,940
Social security and other taxes	34,185	72,794
Other creditors	207,014	205,933
	---------	---------
	349,851	361,667
	---------	---------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
	-------	-------	-------	-------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	26,845	–
Later than 1 year and not later than 5 years	83,909	–
	---------	----
	110,754	–
	---------	----