Company No: 03423173 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	D J Price
	G Price

Secretary

G Price

Registered office	Nova House
	162 Pratling Street
	Aylesford
	ME20 7DH
	United Kingdom

Company number

03423173 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NLC Nova Lift Co. Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 14 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that NLC Nova Lift Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NLC Nova Lift Co. Limited. You consider that NLC Nova Lift Co. Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of NLC Nova Lift Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of NLC Nova Lift Co. Limited, as a body, in accordance with the terms of our engagement letter dated 01 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of NLC Nova Lift Co. Limited and state those matters that we have agreed to state to the Board of Directors of NLC Nova Lift Co. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NLC Nova Lift Co. Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

23 December 2025

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	117,830		157,105
Tangible assets	4	188,973		177,302
Investments	5	1,000		1,000
		307,803		335,407
Current assets
Stocks		84,125		84,125
Debtors	6	2,744,564		1,814,614
Cash at bank and in hand		238,570		279,600
		3,067,259		2,178,339
Creditors: amounts falling due within one year	7	( 3,201,111)		( 2,141,682)
Net current (liabilities)/assets		(133,852)		36,657
Total assets less current liabilities		173,951		372,064
Creditors: amounts falling due after more than one year	8	( 120,913)		( 326,816)
Provision for liabilities	9	( 46,328)		( 41,274)
Net assets		6,710		3,974
Capital and reserves
Called-up share capital	10	278		278
Profit and loss account		6,432		3,696
Total shareholder's funds		6,710		3,974

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of NLC Nova Lift Co. Limited (registered number: 03423173) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

G Price Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NLC Nova Lift Co. Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nova House, 162 Pratling Street, Aylesford, ME20 7DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	51		50

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	785,509		785,509
At 31 March 2025	785,509		785,509
Accumulated amortisation
At 01 April 2024	628,404		628,404
Charge for the financial year	39,275		39,275
At 31 March 2025	667,679		667,679
Net book value
At 31 March 2025	117,830		117,830
At 31 March 2024	157,105		157,105

4. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 April 2024	235,765		41,131		276,896
Additions	50,574		9,339		59,913
Disposals	( 31,018)		0		( 31,018)
At 31 March 2025	255,321		50,470		305,791
Accumulated depreciation
At 01 April 2024	68,646		30,948		99,594
Charge for the financial year	43,791		3,217		47,008
Disposals	( 29,784)		0		( 29,784)
At 31 March 2025	82,653		34,165		116,818
Net book value
At 31 March 2025	172,668		16,305		188,973
At 31 March 2024	167,119		10,183		177,302
Leased assets included above:
Net book value
At 31 March 2025	114,786		0		114,786
At 31 March 2024	165,531		0		165,531

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1,000
At 31 March 2025	1,000
Carrying value at 31 March 2025	1,000
Carrying value at 31 March 2024	1,000

6. Debtors

	2025		2024
	£		£
Trade debtors	1,250,311		661,519
Amounts owed by Group undertakings	1,280,193		994,893
Amounts owed by directors	0		61,626
Prepayments and accrued income	150,138		96,576
Other debtors	63,922		0
	2,744,564		1,814,614

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	16,667		0
Trade creditors	760,697		826,314
Amounts owed to Group undertakings	1,000		1,000
Other loans	189,858		172,887
Accruals and deferred income	1,747,974		812,203
Corporation tax	61,071		107,868
Other taxation and social security	355,768		144,710
Obligations under finance leases and hire purchase contracts	45,220		54,972
Other creditors	22,856		21,728
	3,201,111		2,141,682

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	31,944		0
Other loans	50,308		240,166
Obligations under finance leases and hire purchase contracts	38,661		86,650
	120,913		326,816

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 41,274)		( 19,826)
Charged to the Profit and Loss Account	( 5,054)		( 21,448)
At the end of financial year	( 46,328)		( 41,274)

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
198 Ordinary A shares of £ 1.00 each	198		198
80 Ordinary B shares of £ 1.00 each	80		80
	278		278

Each A Ordinary share and B Ordinary share is entitled to one vote in any circumstances. Dividends can be paid at varying rates on each class of share.

11. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Included within other debtors are directors loans owed to the company for G Price	0		61,626

During the year the directors waived rents payable to them by the company in the sum of £36,000 (2024 - £57,000) for the occupancy of its trading premises. No formal lease agreement is in place for this leasing arrangement.

12. Loans

Analysis of the maturity of loans is given below:

	2025		2024
	£		£
Amounts falling due within one year	206,775		172,887
Amounts falling due 1-2 years	67,225		189,858
Amounts falling due 2-5 year	14,757		50,308
	288,757		413,053

13. Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

	2025		2024
	£		£
Within one year	45,220		54,975
Between 1-5 years	38,661		86,650
	83,881		141,625

14. Ultimate controlling party

Nova Lift Co. Ltd is the ultimate controlling party by virtue of their shareholding.