Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-01 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false false No description of principal activity 19 16 false true NI604828 2024-07-01 2025-06-30 NI604828 2023-07-01 2024-06-30 NI604828 2025-06-30 NI604828 2024-06-30 NI604828 2023-07-01 NI604828 c:CompanySecretary1 2024-07-01 2025-06-30 NI604828 c:Director1 2024-07-01 2025-06-30 NI604828 c:Director2 2024-07-01 2025-06-30 NI604828 c:Director3 2024-07-01 2025-06-30 NI604828 c:Director3 2025-06-30 NI604828 c:RegisteredOffice 2024-07-01 2025-06-30 NI604828 c:Agent1 2024-07-01 2025-06-30 NI604828 d:PlantMachinery 2024-07-01 2025-06-30 NI604828 d:PlantMachinery 2025-06-30 NI604828 d:PlantMachinery 2024-06-30 NI604828 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 NI604828 d:MotorVehicles 2024-07-01 2025-06-30 NI604828 d:MotorVehicles 2025-06-30 NI604828 d:MotorVehicles 2024-06-30 NI604828 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 NI604828 d:OfficeEquipment 2024-07-01 2025-06-30 NI604828 d:OfficeEquipment 2025-06-30 NI604828 d:OfficeEquipment 2024-06-30 NI604828 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 NI604828 d:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 NI604828 d:Goodwill 2024-07-01 2025-06-30 NI604828 d:Goodwill 2025-06-30 NI604828 d:Goodwill 2024-06-30 NI604828 d:CurrentFinancialInstruments 2025-06-30 NI604828 d:CurrentFinancialInstruments 2024-06-30 NI604828 d:Non-currentFinancialInstruments 2025-06-30 NI604828 d:Non-currentFinancialInstruments 2024-06-30 NI604828 d:CurrentFinancialInstruments d:WithinOneYear 2025-06-30 NI604828 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 NI604828 d:Non-currentFinancialInstruments d:AfterOneYear 2025-06-30 NI604828 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 NI604828 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-06-30 NI604828 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 NI604828 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-06-30 NI604828 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 NI604828 d:ShareCapital 2025-06-30 NI604828 d:ShareCapital 2023-07-01 2024-06-30 NI604828 d:ShareCapital 2024-06-30 NI604828 d:ShareCapital 2023-07-01 NI604828 d:SharePremium 2024-07-01 2025-06-30 NI604828 d:SharePremium 2025-06-30 NI604828 d:SharePremium 2023-07-01 2024-06-30 NI604828 d:SharePremium 2024-06-30 NI604828 d:SharePremium 2023-07-01 NI604828 d:CapitalRedemptionReserve 2024-07-01 2025-06-30 NI604828 d:CapitalRedemptionReserve 2025-06-30 NI604828 d:CapitalRedemptionReserve 2024-06-30 NI604828 d:CapitalRedemptionReserve 2023-07-01 NI604828 d:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 NI604828 d:RetainedEarningsAccumulatedLosses 2025-06-30 NI604828 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 NI604828 d:RetainedEarningsAccumulatedLosses 2024-06-30 NI604828 d:RetainedEarningsAccumulatedLosses 2023-07-01 NI604828 d:AcceleratedTaxDepreciationDeferredTax 2025-06-30 NI604828 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI604828 d:TaxLossesCarry-forwardsDeferredTax 2025-06-30 NI604828 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI604828 d:OtherDeferredTax 2025-06-30 NI604828 d:OtherDeferredTax 2024-06-30 NI604828 c:OrdinaryShareClass1 2024-07-01 2025-06-30 NI604828 c:OrdinaryShareClass1 2025-06-30 NI604828 c:OrdinaryShareClass1 2024-06-30 NI604828 c:OrdinaryShareClass2 2024-07-01 2025-06-30 NI604828 c:OrdinaryShareClass2 2025-06-30 NI604828 c:OrdinaryShareClass2 2024-06-30 NI604828 c:FRS102 2024-07-01 2025-06-30 NI604828 c:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 NI604828 c:FullAccounts 2024-07-01 2025-06-30 NI604828 c:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 NI604828 d:EntityControlledByKeyManagementPersonnel1 2024-07-01 2025-06-30 NI604828 d:WithinOneYear 2025-06-30 NI604828 d:WithinOneYear 2024-06-30 NI604828 d:BetweenOneFiveYears 2025-06-30 NI604828 d:BetweenOneFiveYears 2024-06-30 NI604828 d:HirePurchaseContracts d:WithinOneYear 2025-06-30 NI604828 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 NI604828 d:HirePurchaseContracts d:BetweenOneFiveYears 2025-06-30 NI604828 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 NI604828 2 2024-07-01 2025-06-30 NI604828 e:PoundSterling 2024-07-01 2025-06-30 iso4217:GBP xbrli:shares xbrli:pure

Unaudited Financial Statements Clearlift Material Handling Limited For the year ended 30 June 2025 Registered number: NI604828
Clearlift Material Handling Limited
Company Information
Directors | Mr J Savage
| Mr S J Morrow
| Mr M P McGinn (appointed 30 September 2024)
Company secretary | Mr K O'Connor
Registered number | NI604828
Registered office | 3 Carn Drive
| Carn Industrial Estate
| Portadown
| Craigavon
| BT63 5WJ
Accountants | Grant Thornton Advisors (NI) LLP
| Chartered Accountants
| 12 - 15 Donegall Square West
| Belfast
| BT1 6JH
Bankers | HSBC
| 25 - 29 Royal Avenue
| Belfast
| BT1 1FB
Solicitors | Fisher Law
| Galgorm House
| 7A Fenaghy Road
| Galgorm
| Ballymena
| BT42 1HW
Clearlift Material Handling Limited
Contents
| Page
Accountants' report | 1
Statement of financial position | 2 - 3
Statement of changes in equity | 4
Notes to the financial statements | 5 - 16
Independent Accountant's Report to the directors of the unaudited financial statements of Clearlift Material Handling Limited for the year ended 30 June 2025 In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Clearlift Material Handling Limited for the year ended 30 June 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us. The financial statements have been prepared on the basis set out in the notes to the financial statements. This report is made solely to the directors of Clearlift Material Handling Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Clearlift Material Handling Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clearlift Material Handling Limited and its directors, as a body, for our work or for this report. We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements. You have approved the financial statements for the year ended 30 June 2025 and you have acknowledged on the Statement of financial position as at 30 June 2025 your duty to ensure that Clearlift Material Handling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Clearlift Material Handling Limited is exempt from the statutory audit requirement for the year ended 30 June 2025. We have not been instructed to carry out an audit or review the financial statements of Clearlift Material Handling 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.
Grant Thornton Advisors (NI) LLP |
Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH |
Date: 9 January 2026 Page 1
Clearlift Material Handling Limited Registered number:NI604828
Statement of financial position As at 30 June 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 6 |  | 7,051,868 |  | 6,478,630
|  |  | 7,051,868 |  | 6,478,630
Current assets |  |  |  |  |
Stocks | 7 | 1,073,302 |  | 1,014,004 |
Debtors: amounts falling due within one year | 8 | 823,155 |  | 622,490 |
Cash at bank and in hand | 9 | 57,114 |  | 17,728 |
|  | 1,953,571 |  | 1,654,222 |
Creditors: amounts falling due within one year | 10 | (2,294,877) |  | (2,350,493) |
Net current liabilities |  |  | (341,306) |  | (696,271)
Total assets less current liabilities |  |  | 6,710,562 |  | 5,782,359
Creditors: amounts falling due after more than one year | 11 |  | (3,773,376) |  | (2,944,282)
Provisions for liabilities |  |  |  |  |
Deferred tax liability | 14 | (316,263) |  | (283,915) |
|  |  | (316,263) |  | (283,915)
Net assets |  |  | 2,620,923 |  | 2,554,162
Capital and reserves |  |  |  |  |
Called up share capital | 15 |  | 2,017,606 |  | 2,017,606
Share premium account | 16 |  | 199,700 |  | 199,700
Capital redemption reserve | 16 |  | 210,352 |  | 210,352
Profit and loss account | 16 |  | 193,265 |  | 126,504
|  |  | 2,620,923 |  | 2,554,162
Page 2
Clearlift Material Handling Limited Registered number:NI604828
Statement of financial position (continued) As at 30 June 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 January 2026.
Mr J Savage
Director
The notes on pages 5 to 16 form part of these financial statements. Page 3
Clearlift Material Handling Limited
Statement of changes in equity For the year ended 30 June 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 July 2024 | 2,017,606 | 199,700 | 210,352 | 126,504 | 2,554,162
Profit for the year | - | - | - | 66,761 | 66,761
At 30 June 2025 | 2,017,606 | 199,700 | 210,352 | 193,265 | 2,620,923
| The notes on pages 5 to 16 form part of these financial statements.
Statement of changes in equity For the year ended 30 June 2024
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 July 2023 | 1,597,456 | 199,700 | 210,352 | 48,757 | 2,056,265
Profit for the year | - | - | - | 77,747 | 77,747
Shares issued during the year | 420,150 | - | - | - | 420,150
At 30 June 2024 | 2,017,606 | 199,700 | 210,352 | 126,504 | 2,554,162
| The notes on pages 5 to 16 form part of these financial statements.
Page 4
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
1. | General information
Clearlift Material Handling Limited is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 3 Carn Drive, Carn Industrial Estate, Portadown, Craigavon, Northern Ireland, BT63 5WJ. The principal activity of the company was the sale and purchase of fork lifts. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The financial statements are presented in Sterling (£). The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business. Page 5
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 6
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 7
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.11 | 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. The estimated useful lives range as follows:
|  |  |  | Goodwill | - | 10 | years
Page 8
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 2% - 20%
|  |  |  | Motor vehicles | - | 13.36% - 20%
|  |  |  | Fixtures and fittings | - | 20% - 33%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.13 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is 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.
| 2.14 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.15 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.16 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 9
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025 2.Accounting policies (continued)
| 2.17 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. a) Recoverability of debtors Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered. b) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets. c) Carrying value of stock Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.
4. | Employees
| The average monthly number of employees, including directors, during the year was 19 (2024 - 16).
Page 10
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
5. | Intangible assets
|  | Goodwill
|  | £
| At 1 July 2024 | 98,399
| Disposals | (98,399)
| At 30 June 2025 | -
| At 1 July 2024 | 98,399
| On disposals | (98,399)
| At 30 June 2025 | -
| Net book value |
| At 30 June 2025 | -
| At 30 June 2024 | -
Page 11
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
6. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 July 2024 | 9,385,576 | 528,305 | 127,845 | 10,041,726
| Additions | 1,872,650 | 90,773 | 9,222 | 1,972,645
| Disposals | (375,487) | (58,614) | (74,370) | (508,471)
| At 30 June 2025 | 10,882,739 | 560,464 | 62,697 | 11,505,900
| Depreciation |  |  |  |
| At 1 July 2024 | 3,292,141 | 163,124 | 107,831 | 3,563,096
| Charge for the year | 1,175,727 | 91,518 | 7,053 | 1,274,298
| Disposals | (256,415) | (52,577) | (74,370) | (383,362)
| At 30 June 2025 | 4,211,453 | 202,065 | 40,514 | 4,454,032
| Net book value |  |  |  |
| At 30 June 2025 | 6,671,286 | 358,399 | 22,183 | 7,051,868
| At 30 June 2024 | 6,093,435 | 365,181 | 20,014 | 6,478,630
| At 30 June 2025, the net carrying amount of plant and machinery and motor vehicles under hire purchase agreements was £5,472,338 (2024: £4,384,193).
7. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Parts and equipment | 1,058,057 | 1,005,717
| Work in progress | 15,245 | 8,287
|  | 1,073,302 | 1,014,004
Page 12
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 736,445 | 567,832
| Other debtors | 64,120 | 22,353
| Called up share capital not paid | 150 | 150
| Prepayments and accrued income | 22,440 | 32,155
|  | 823,155 | 622,490
9. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 57,114 | 17,728
| Less: bank overdrafts | (226,727) | (370,910)
|  | (169,613) | (353,182)
10. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 226,727 | 370,910
| Bank loans | 42,000 | 42,000
| Other loans | - | 493,431
| Trade creditors | 325,239 | 143,656
| Amounts owed to related party | - | 2,297
| Other taxation and social security | 39,761 | 36,609
| Obligations under finance lease and hire purchase contracts | 1,624,301 | 1,243,271
| Other creditors | 9,538 | 6,465
| Accruals and deferred income | 27,311 | 11,854
|  | 2,294,877 | 2,350,493
| Bank loans are subject to interest at a rate of 5.9% per annum. The loan is repaid in monthly installments over 6 years from the drawdown date. Trade and other creditors are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms. Hire purchase agreements are secured on the assets to which they relate. There is a fixed and floating charge over all the assets of the company.
Page 13
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
11. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 49,000 | 91,000
| Other loans | 200,000 | 200,000
| Net obligations under finance leases and hire purchase contracts | 3,524,376 | 2,653,282
|  | 3,773,376 | 2,944,282
| Bank loans and hire purchase liabilities are secured as stated in note 10. Other loans due after more than one year comprise of loans due from related parties, details of which are disclosed in note 19.
12. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 42,000 | 42,000
| Other loans | - | 493,431
|  | 42,000 | 535,431
| Amounts falling due 1-2 years |  |
| Bank loans | 42,000 | 42,000
|  | 42,000 | 42,000
| Amounts falling due 2-5 years |  |
| Bank loans | 7,000 | 49,000
|  | 7,000 | 49,000
|  | 91,000 | 626,431
Page 14
Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
13. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 1,624,301 | 1,243,271
| Between 1-5 years | 3,524,376 | 2,653,282
|  | 5,148,677 | 3,896,553
14. | Deferred tax liability
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 283,915 | 244,035
| Charged to profit or loss | 32,348 | 39,880
| At end of year | 316,263 | 283,915
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed asset timing differences | 936,152 | 800,682
| Short term timing differences | (433) | (400)
| Losses and other deductions | (619,456) | (516,367)
|  | 316,263 | 283,915
15. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 11,000 (2024 - 11,000) Ordinary shares of £0.10 each | 1,100 | 1,100
|  | 2,016,506 (2024 - 2,016,506) Preference shares of £1.00 each | 2,016,506 | 2,016,506
|  |  | 2,017,606 | 2,017,606
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Clearlift Material Handling Limited
Notes to the financial statements For the year ended 30 June 2025
16. | Reserves
Share premium account This includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium. Capital redemption reserve Includes amounts transferred from the profit and loss account on the redemption of share capital. Profit and loss account Profit and loss account includes all current and prior year retained profits and losses.
17. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,211 (2024 - £5,712). Contributions totalling £1,731 (2024 - £1,601) were payable to the fund at the balance sheet date.
18. | Commitments under operating leases
| At 30 June 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 42,500 | 42,500
| Later than 1 year and not later than 5 years | 81,458 | 123,958
|  | 123,958 | 166,458
19. | Related party transactions
| During the year, the Company had net transactions amounting to £2,297 with a company related by virtue of common directors. At 30 June 2025 a balance of £Nil was owed to the related party (2024: £2,297). During the year, service fees totalling £121,952 were paid to entities under common control. As at 30 June 2025, a balance of £200,000 (2024: £200,000) remained payable to a shareholder. No transactions occurred with the shareholder during the year. The loan is interest free.
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