Swansea Lift Repair & Service Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 04321671 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SWANSEA LIFT REPAIR & SERVICE LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Boocock

Mrs I Boocock

SECRETARY:

Mrs I Boocock

REGISTERED OFFICE:

Beckside House

Pitt Street

Keighley

West Yorkshire

BD21 4PF

REGISTERED NUMBER:

04321671 (England and Wales)

ACCOUNTANTS:

Fortus Limited

3 Park Square East

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

20,136

228

CURRENT ASSETS

Stocks

3,000

2,452

Debtors

5

222,841

262,870

Cash at bank and in hand

84,714

94,318

310,555

359,640

CREDITORS

Amounts falling due within one year

6

215,992

245,199

NET CURRENT ASSETS

94,563

114,441

TOTAL ASSETS LESS CURRENT LIABILITIES

114,699

114,669

CREDITORS

Amounts falling due after more than
one year

7

(12,124

)

(65,137

)

PROVISIONS FOR LIABILITIES

(5,097

)

(42

)

NET ASSETS

97,478

49,490

CAPITAL AND RESERVES

Called up share capital

102

Retained earnings

97,376

49,388

SHAREHOLDERS' FUNDS

97,478

49,490

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

S Boocock - Director

1.	STATUTORY INFORMATION

Swansea Lift Repair & Service Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In applying the company's accounting policies, the director is required to make judgements,

estimates and assumptions about the carrying value of assets and liabilities. Estimates and

assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised

in the period in which the estimate is revised

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be received or paid. If a short term instrument constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

2,493

12,470

-

14,963

Additions

-

20,833

At 31 December 2024

2,493

12,470

20,833

35,796

DEPRECIATION

At 1 January 2024

2,493

12,242

-

14,735

Charge for year

-

57

868

925

At 31 December 2024

2,493

12,299

868

15,660

NET BOOK VALUE

At 31 December 2024

-

171

19,965

20,136

At 31 December 2023

-

228

-

228

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

13,328

59,749

Due from related undertaking

209,513

203,121

222,841

262,870

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

36,000

Trade creditors

607

2,861

Corporation tax

12,888

-

Social security and other taxes

31,153

20,664

Other creditors

57,149

83,228

Directors' current accounts

17,250

92,446

Accruals and deferred income

60,945

10,000

215,992

245,199

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

12,124

65,137