Midland Lift Services Ltd 04411093 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is lift engineers Digita Accounts Production Advanced 6.30.9574.0 true true 04411093 2024-04-01 2025-03-31 04411093 2025-03-31 04411093 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 04411093 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 04411093 core:CurrentFinancialInstruments 2025-03-31 04411093 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04411093 core:Non-currentFinancialInstruments 2025-03-31 04411093 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 04411093 core:Goodwill 2025-03-31 04411093 core:FurnitureFittings 2025-03-31 04411093 core:MotorVehicles 2025-03-31 04411093 core:PlantMachinery 2025-03-31 04411093 bus:SmallEntities 2024-04-01 2025-03-31 04411093 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04411093 bus:FilletedAccounts 2024-04-01 2025-03-31 04411093 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04411093 bus:RegisteredOffice 2024-04-01 2025-03-31 04411093 bus:Director1 2024-04-01 2025-03-31 04411093 bus:Director2 2024-04-01 2025-03-31 04411093 bus:Director3 2024-04-01 2025-03-31 04411093 bus:Director4 2024-04-01 2025-03-31 04411093 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04411093 core:Goodwill 2024-04-01 2025-03-31 04411093 core:FurnitureFittings 2024-04-01 2025-03-31 04411093 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 04411093 core:MotorVehicles 2024-04-01 2025-03-31 04411093 core:PlantMachinery 2024-04-01 2025-03-31 04411093 countries:AllCountries 2024-04-01 2025-03-31 04411093 2024-03-31 04411093 core:Goodwill 2024-03-31 04411093 core:FurnitureFittings 2024-03-31 04411093 core:MotorVehicles 2024-03-31 04411093 core:PlantMachinery 2024-03-31 04411093 2023-04-01 2024-03-31 04411093 2024-03-31 04411093 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 04411093 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 04411093 core:CurrentFinancialInstruments 2024-03-31 04411093 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04411093 core:Non-currentFinancialInstruments 2024-03-31 04411093 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04411093 core:Goodwill 2024-03-31 04411093 core:FurnitureFittings 2024-03-31 04411093 core:MotorVehicles 2024-03-31 04411093 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 04411093

Midland Lift Services Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Midland Lift Services Ltd

Contents

Company Information | 1
Directors' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 11

Midland Lift Services Ltd

Company Information

Directors | Mark Bradley James Paul Edward Halford Mr Anthony Martin David William Martin

Registered office | Unit 2, Property Court Telford way Stephenson Industrial Estate Leicestershire England LE67 3HE

Accountants | M Ball & Co Limited The Hemington Millhouse Business Centre Station Road Castle Donington Derby DE74 2NJ

Midland Lift Services Ltd

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors of the company

The directors who held office during the year were as follows:

Mark Bradley

James Paul Edward Halford

Mr Anthony Martin

David William Martin

Principal activity

The principal activity of the company is lift engineers

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

......................................... Mr Anthony Martin Director

Midland Lift Services Ltd

(Registration number: 04411093)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 750,000 | 750,000
Tangible assets | 5 | 442,992 | 523,556
|  | 1,192,992 | 1,273,556
Current assets |  |  |
Stocks | 6 | 51,280 | 47,125
Debtors | 7 | 1,956,397 | 1,842,003
Cash at bank and in hand |  | 118,379 | 116,785
|  | 2,126,056 | 2,005,913
Creditors: Amounts falling due within one year | 8 | (1,832,747) | (1,857,562)
Net current assets |  | 293,309 | 148,351
Total assets less current liabilities |  | 1,486,301 | 1,421,907
Creditors: Amounts falling due after more than one year | 8 | (219,673) | (251,757)
Provisions for liabilities |  | (80,861) | (89,567)
Net assets |  | 1,185,767 | 1,080,583
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Revaluation reserve |  | 750,000 | 750,000
Retained earnings |  | 435,667 | 330,483
Shareholders' funds |  | 1,185,767 | 1,080,583

Midland Lift Services Ltd

(Registration number: 04411093)
Balance Sheet as at 31 March 2025

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

......................................... Mr Anthony Martin Director

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 2, Property Court
Telford way
Stephenson Industrial Estate
Leicestershire
England
LE67 3HE

These financial statements were authorised for issue by the Board on 12 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Furniture and fixture | 25% reducing balance
Motor vehciles | 25% reducing balance

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2024 - 29).

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 750,000 | 750,000
At 31 March 2025 | 750,000 | 750,000
Amortisation
Carrying amount
At 31 March 2025 | 750,000 | 750,000
At 31 March 2024 | 750,000 | 750,000

5 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 102,360 | 45,883 | 716,709 | 864,952
Additions | 30,993 | 3,574 | 74,706 | 109,273
Disposals | - | - | (116,238) | (116,238)
At 31 March 2025 | 133,353 | 49,457 | 675,177 | 857,987
Depreciation
At 1 April 2024 | 62,174 | 33,452 | 245,770 | 341,396
Charge for the year | 14,132 | 3,410 | 130,058 | 147,600
Eliminated on disposal | - | - | (74,001) | (74,001)
At 31 March 2025 | 76,306 | 36,862 | 301,827 | 414,995
Carrying amount
At 31 March 2025 | 57,047 | 12,595 | 373,350 | 442,992
At 31 March 2024 | 40,186 | 12,431 | 470,939 | 523,556

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6 | Stocks

| 2025 £ | 2024 £
Work in progress | 46,525 | 42,370
Other inventories | 4,755 | 4,755
| 51,280 | 47,125

7 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 620,949 | 767,451
Amounts owed by related parties |  | 975,601 | 627,721
Prepayments |  | 359,847 | 446,831
|  | 1,956,397 | 1,842,003

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 88,374 | 80,081
Trade creditors |  | 406,009 | 375,823
Taxation and social security |  | 284,014 | 165,850
Accruals and deferred income |  | 990,306 | 1,142,335
Other creditors |  | 64,044 | 93,473
|  | 1,832,747 | 1,857,562

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 219,673 | 251,757

Midland Lift Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 210,506 | 232,590
Other borrowings | 9,167 | 19,167
| 219,673 | 251,757

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 78,374 | 70,081
Other borrowings | 10,000 | 10,000
| 88,374 | 80,081