Company registration number 04601952 (England and Wales)
MODULIFT UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
MODULIFT UK LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 9
MODULIFT UK LIMITED
COMPANY INFORMATION
- 1 -
Directors
S Spivey
P J Smith
T Dietvorst
(Appointed 3 March 2026)
Company number
04601952
Registered office
Cordite House
Holton Road
Holton Heath Trading Park
Poole
Dorset
BH16 6FL
Auditor
Azets Audit Services
37 Commercial Road
Poole
Dorset
BH14 0HU
MODULIFT UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
10,458
15,222
Tangible assets
4
139,728
199,463
150,186
214,685
Current assets
Stocks
545,938
404,926
Debtors
5
2,188,932
1,956,258
Cash at bank and in hand
4,985,201
4,882,493
7,720,071
7,243,677
Creditors: amounts falling due within one year
6
(4,191,092)
(1,307,591)
Net current assets
3,528,979
5,936,086
Total assets less current liabilities
3,679,165
6,150,771
Provisions for liabilities
(32,768)
(49,865)
Net assets
3,646,397
6,100,906
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
3,646,297
6,100,806
Total equity
3,646,397
6,100,906

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 April 2026 and are signed on its behalf by:
S Spivey
Director
Company registration number 04601952 (England and Wales)
MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Modulift UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cordite House, Holton Road, Holton Heath Trading Park, Poole, Dorset, BH16 6FL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

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 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.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
20% straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
20% straight line
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
33% straight line

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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

1.8
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 current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

Derecognition of financial liabilities

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

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight‑line basis over the term of the relevant lease, unless another systematic basis is more representative of the pattern in which the economic benefits of the leased asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
50
41
MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
3
Intangible fixed assets
Other
£
Cost
At 1 January 2025 and 31 December 2025
65,614
Amortisation and impairment
At 1 January 2025
50,392
Amortisation charged for the year
4,764
At 31 December 2025
55,156
Carrying amount
At 31 December 2025
10,458
At 31 December 2024
15,222
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2025
26,490
1,085,399
20,418
72,608
1,204,915
Additions
10,956
14,939
-
0
1,643
27,538
At 31 December 2025
37,446
1,100,338
20,418
74,251
1,232,453
Depreciation and impairment
At 1 January 2025
22,194
900,345
19,363
63,550
1,005,452
Depreciation charged in the year
2,635
79,341
221
5,076
87,273
At 31 December 2025
24,829
979,686
19,584
68,626
1,092,725
Carrying amount
At 31 December 2025
12,617
120,652
834
5,625
139,728
At 31 December 2024
4,296
185,054
1,055
9,058
199,463
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,988,236
1,809,052
Corporation tax recoverable
113,417
59,900
Other debtors
22,193
36,492
Prepayments and accrued income
65,086
50,814
2,188,932
1,956,258
MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,085,639
1,029,173
Amounts owed to group undertakings
3,000,000
7,463
Taxation and social security
68,747
48,741
Other creditors
36,706
222,214
4,191,092
1,307,591
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
1,000
1,000
100
100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Michael Wesley FCA
Statutory Auditor:
Azets Audit Services
Date of audit report:
29 April 2026
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
1,744,641
1,929,765
MODULIFT UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
10
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
248,000
-
11
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption available in section 33.1a of FRS 102 whereby it has not disclosed transactions with ultimate parent company or any wholly owned subsidiary undertaking in the group.

12
Parent company

The immediate parent undertaking is Modulift Holdings Limited, a company incorporated in England & Wales.

The ultimate parent undertaking is pewag Austria GmbH.

2025-12-31 2025-01-01 false false false 29 April 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity S Spivey P J Smith T Dietvorst 04601952 2025-01-01 2025-12-31 04601952 bus:Director1 2025-01-01 2025-12-31 04601952 bus:Director2 2025-01-01 2025-12-31 04601952 bus:Director3 2025-01-01 2025-12-31 04601952 bus:RegisteredOffice 2025-01-01 2025-12-31 04601952 2025-12-31 04601952 2024-12-31 04601952 core:IntangibleAssetsOtherThanGoodwill 2025-12-31 04601952 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 04601952 core:LandBuildings 2025-12-31 04601952 core:PlantMachinery 2025-12-31 04601952 core:FurnitureFittings 2025-12-31 04601952 core:ComputerEquipment 2025-12-31 04601952 core:LandBuildings 2024-12-31 04601952 core:PlantMachinery 2024-12-31 04601952 core:FurnitureFittings 2024-12-31 04601952 core:ComputerEquipment 2024-12-31 04601952 core:WithinOneYear 2025-12-31 04601952 core:WithinOneYear 2024-12-31 04601952 core:CurrentFinancialInstruments 2025-12-31 04601952 core:CurrentFinancialInstruments 2024-12-31 04601952 core:ShareCapital 2025-12-31 04601952 core:ShareCapital 2024-12-31 04601952 core:RetainedEarningsAccumulatedLosses 2025-12-31 04601952 core:RetainedEarningsAccumulatedLosses 2024-12-31 04601952 core:ShareCapitalOrdinaryShareClass1 2025-12-31 04601952 core:ShareCapitalOrdinaryShareClass1 2024-12-31 04601952 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 04601952 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 04601952 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 04601952 core:PlantMachinery 2025-01-01 2025-12-31 04601952 core:FurnitureFittings 2025-01-01 2025-12-31 04601952 core:ComputerEquipment 2025-01-01 2025-12-31 04601952 2024-01-01 2024-12-31 04601952 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 04601952 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 04601952 core:PlantMachinery 2024-12-31 04601952 core:FurnitureFittings 2024-12-31 04601952 core:ComputerEquipment 2024-12-31 04601952 2024-12-31 04601952 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-12-31 04601952 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 04601952 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 04601952 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04601952 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 04601952 bus:OrdinaryShareClass1 2025-12-31 04601952 bus:OrdinaryShareClass1 2024-12-31 04601952 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04601952 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 04601952 bus:FRS102 2025-01-01 2025-12-31 04601952 bus:Audited 2025-01-01 2025-12-31 04601952 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP