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Company No: 12760405 (England and Wales)

# LIFTANGO LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

LIFTANGO LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

LIFTANGO LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
LIFTANGO LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

DIRECTOR | Mr K Orr

SECRETARY | Mr J Campbell

REGISTERED OFFICE | Second Floor
| 201 Great Portland Street
| London
| W1W 5AB
| United Kingdom

COMPANY NUMBER | 12760405 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| 2nd Floor
| 201 Great Portland Street
| Marylebone
| London
| W1W 5AB
| United Kingdom

LIFTANGO LIMITED

## BALANCE SHEET

AS AT 31 DECEMBER 2024
LIFTANGO LIMITED

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 3,149 |  | 3,512
Tangible assets | 5 | 4,868 |  | 7,575
|  | 8,017 |  | 11,087
Current assets |  |  |  |
Debtors | 6 | 3,958,442 |  | 2,985,388
Cash at bank and in hand | 7 | 73,590 |  | 301,807
|  | 4,032,032 |  | 3,287,195
Creditors: amounts falling due within one year | 8 | ( 989,594) |  | ( 496,285)
Net current assets |  | 3,042,438 |  | 2,790,910
Total assets less current liabilities |  | 3,050,455 |  | 2,801,997
Creditors: amounts falling due after more than one year | 9 | ( 7,774,680) |  | ( 5,953,065)
Net liabilities |  | ( 4,724,225) |  | ( 3,151,068)
Capital and reserves |  |  |  |
Called-up share capital | 10 | 1 |  | 1
Profit and loss account |  | ( 4,724,226 ) |  | ( 3,151,069 )
Total shareholder's deficit |  | ( 4,724,225) |  | ( 3,151,068)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Liftango Limited (registered number: 12760405) were approved and authorised for issue by the Director on 09 February 2026. They were signed on its behalf by:

Mr K Orr Director |

LIFTANGO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
LIFTANGO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

##### 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

Liftango 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 Second Floor, 201 Great Portland Street, London, W1W 5AB, 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 company previously applied Financial Reporting Standard 105 - "The Financial Reporting Standard applicable to the Micro-entities 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 Profit and Loss Account 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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 Profit and Loss Account 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
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.
No prior period adjustment has been made on transition from FRS 105 to FRS 102 Section 1A, as the impact of deferred tax balances was not considered material.

##### 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:

Trademarks, patents and licences | 10 years straight line

##### 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:

Computer equipment | 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
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.

##### 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 Profit and Loss Account as described below.

##### 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### 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).

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Transition to FRS102

The Company has adopted FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland - for the financial year ended 31 December 2024. The transition from FRS 105 did not result in any material adjustments to the reported financial position of performance. Accordingly, the comparative figures for the year ended 31 December 2023 have not been restated.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

#### 3. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 16 |  | 17

#### 4. Intangible assets

| Trademarks, patents and licences |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 3,631 |  | 3,631
At 31 December 2024 | 3,631 |  | 3,631
Accumulated amortisation |  |  |
At 01 January 2024 | 119 |  | 119
Charge for the financial year | 363 |  | 363
At 31 December 2024 | 482 |  | 482
Net book value |  |  |
At 31 December 2024 | 3,149 |  | 3,149
At 31 December 2023 | 3,512 |  | 3,512

#### 5. Tangible assets

| Computer equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 14,448 |  | 14,448
Additions | 2,204 |  | 2,204
At 31 December 2024 | 16,652 |  | 16,652
Accumulated depreciation |  |  |
At 01 January 2024 | 6,873 |  | 6,873
Charge for the financial year | 4,911 |  | 4,911
At 31 December 2024 | 11,784 |  | 11,784
Net book value |  |  |
At 31 December 2024 | 4,868 |  | 4,868
At 31 December 2023 | 7,575 |  | 7,575

#### 6. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 163,076 |  | 39,335
Amounts owed by Group undertakings | 3,637,013 |  | 2,805,730
Prepayments | 154,956 |  | 139,450
Other debtors | 3,397 |  | 873
| 3,958,442 |  | 2,985,388

#### 7. Cash and cash equivalents

| 2024 |  | 2023
| £ |  | £
Cash at bank and in hand | 73,590 |  | 301,807
Less: Bank overdrafts | ( 58,461) |  | ( 39,836)
| 15,129 |  | 261,971

#### 8. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank overdrafts | 58,461 |  | 39,836
Trade creditors | 134,928 |  | 59,314
Accruals and deferred income | 378,649 |  | 226,884
Taxation and social security | 361,078 |  | 109,487
Other creditors | 56,478 |  | 60,764
| 989,594 |  | 496,285

#### 9. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Amounts owed to Group undertakings | 152,040 |  | 152,040
Amounts owed to Parent undertakings | 7,622,640 |  | 5,801,025
| 7,774,680 |  | 5,953,065

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

#### 10. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 11. Related party transactions

At the reporting date there were outstanding balances with related parties.
The company was owed by the following group undertakings; £1,701,140 (2023: £1,718,439) from US , £247,452 (2023: £215,020) from Canada, £1,680,321 (2023: £872,271) from Australia, and £8,100 (2023: £nil) from Dubai .
The company owed £7,622,640 (2023: £5,801,025) to the parent company Liftango Group Ltd. The company owed £152,040 (2023: £152,040) to a group member Liftango Pty Ltd.

#### 12. Ultimate controlling party

Parent Company:

Liftango Group Ltd
Liftango The Mart, Station Road, East Linton, EH40 3DN, United Kingdom