REGISTERED NUMBER: 02220215 (England and Wales)

CREST LIFTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr K Duberley

Mr J R Garvey

Mr J Duberley

SECRETARY:

Mr K Duberley

REGISTERED OFFICE:

11 Nimbus

Hercules Way

Farnborough

Hampshire

GU14 6UU

REGISTERED NUMBER:

02220215 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

FIXED ASSETS

Tangible assets

4

491,294

530,828

CURRENT ASSETS

Stocks

930,054

2,200,296

Debtors

5

2,221,828

3,499,069

Cash at bank and in hand

2,689,637

932,633

5,841,519

6,631,998

CREDITORS

Amounts falling due within one year

6

3,866,014

5,157,541

NET CURRENT ASSETS

1,975,505

1,474,457

TOTAL ASSETS LESS CURRENT LIABILITIES

2,466,799

2,005,285

CREDITORS

Amounts falling due after more than one year

7

(174,828

)

(181,739

)

PROVISIONS FOR LIABILITIES

(108,125

)

(128,674

)

NET ASSETS

2,183,846

1,694,872

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

2,163,846

1,674,872

SHAREHOLDERS' FUNDS

2,183,846

1,694,872

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2026 and were signed on its behalf by:

Mr K Duberley - Director

1.	STATUTORY INFORMATION

Crest Lifts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 value added tax. The fair value of consideration takes into account trade discounts.

Revenue from the sale of goods is recognised when:

- the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods;

- the amount of the revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the entity; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% to 25% on reducing balance

Motor vehicles

-

20% to 25% on cost

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

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

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 the borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

11,362

1,534

60,557

945,088

1,018,541

Additions

-

-

-

223,102

223,102

Disposals

-

-

-

(57,612

)

(57,612

)

At 31 December 2025

11,362

1,534

60,557

1,110,578

1,184,031

DEPRECIATION

At 1 January 2025

11,362

1,534

60,557

414,260

487,713

Charge for year

-

-

-

255,376

255,376

Eliminated on disposal

-

-

-

(50,352

)

(50,352

)

At 31 December 2025

11,362

1,534

60,557

619,284

692,737

NET BOOK VALUE

At 31 December 2025

-

-

-

491,294

491,294

At 31 December 2024

-

-

-

530,828

530,828

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2025

567,981

Additions

174,627

Transfer to ownership

(68,760

)

At 31 December 2025

673,848

DEPRECIATION

At 1 January 2025

235,687

Charge for year

166,777

Transfer to ownership

(68,760

)

At 31 December 2025

333,704

NET BOOK VALUE

At 31 December 2025

340,144

At 31 December 2024

332,294

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,149,898

1,576,814

Amounts owed by group undertakings

953,497

1,743,539

Other debtors

118,433

178,716

2,221,828

3,499,069

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

149,065

112,955

Trade creditors

831,838

1,055,588

Amounts owed to group undertakings

96,880

-

Taxation and social security

548,636

531,387

Other creditors

2,239,595

3,457,611

3,866,014

5,157,541

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

174,828

181,739

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

323,893

294,694

Hire purchase liabilities are secured on the assets acquired thereunder.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Smith BSc FCA (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

10.	ULTIMATE PARENT COMPANY

The ultimate parent company is Provident Lifts Limited.