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Registered number: 01960580
ACE Lifts Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01960580
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,397,720 1,372,812
Tangible Assets 5 105,729 65,547
1,503,449 1,438,359
CURRENT ASSETS
Stocks 6 275,728 219,848
Debtors 7 735,580 527,508
Cash at bank and in hand 24,800 104,953
1,036,108 852,309
Creditors: Amounts Falling Due Within One Year 8 (1,590,352 ) (1,470,779 )
NET CURRENT ASSETS (LIABILITIES) (554,244 ) (618,470 )
TOTAL ASSETS LESS CURRENT LIABILITIES 949,205 819,889
Creditors: Amounts Falling Due After More Than One Year 9 (366,239 ) (466,827 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,088 ) (11,327 )
NET ASSETS 562,878 341,735
CAPITAL AND RESERVES
Called up share capital 11 250 250
Profit and Loss Account 562,628 341,485
SHAREHOLDERS' FUNDS 562,878 341,735
Page 1
Page 2
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Charles Salter
Director
16/06/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ACE Lifts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01960580 . The registered office is Units 4 & 5, St. Ives Way, Factory Road Sandycroft, Deeside, Flintshire, CH5 2QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets 
on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed 
where circumstances indicate that the carrying value of an asset may not be fully recoverable.
2.4. Research and Development
Expenditure on research and development is capitalised under Intangible assets.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
Fixtures & Fittings 20% Straight line
2.6. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant 
rate of return on the balance outstanding.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Government Grant
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the 
profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are 
released to the profit and loss account as the related expenditure is incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 51 (2025: 33)
51 33
4. Intangible Assets
Other
£
Cost
As at 1 February 2025 2,342,717
Additions 146,908
As at 31 January 2026 2,489,625
Amortisation
As at 1 February 2025 969,905
Provided during the period 122,000
As at 31 January 2026 1,091,905
Net Book Value
As at 31 January 2026 1,397,720
As at 1 February 2025 1,372,812
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2025 85,903 187,678 69,627 343,208
Additions 12,661 56,878 - 69,539
Disposals (68,595 ) (55,985 ) (36,518 ) (161,098 )
As at 31 January 2026 29,969 188,571 33,109 251,649
Depreciation
As at 1 February 2025 84,572 148,123 44,966 277,661
Provided during the period 3,268 4,740 6,564 14,572
Disposals (68,595 ) (41,200 ) (36,518 ) (146,313 )
As at 31 January 2026 19,245 111,663 15,012 145,920
Net Book Value
As at 31 January 2026 10,724 76,908 18,097 105,729
As at 1 February 2025 1,331 39,555 24,661 65,547
6. Stocks
2026 2025
£ £
Stock 232,691 201,189
Work in progress 43,037 18,659
275,728 219,848
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 673,625 457,472
Prepayments and accrued income 46,453 70,036
Other debtors 15,502 -
735,580 527,508
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Page 6
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 11,186 -
Trade creditors 690,326 370,301
Bank loans and overdrafts 21,432 96,879
Other taxes and social security 103,271 42,006
VAT 99,869 148,766
Other creditors 7,740 16,972
Accruals and deferred income 530,784 568,044
Directors' loan accounts 125,744 227,811
1,590,352 1,470,779
9. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 39,953 -
Bank loans 1,591 19,459
Directors loan account 324,695 447,368
366,239 466,827
10. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,186 -
Later than one year and not later than five years 39,953 -
51,139 -
51,139 -
11. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 250 250
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