Registered number: 01863851
FOR THE YEAR ENDED 31 DECEMBER 2025
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report for the year ended 31 December 2025.
2025 has seen a continued increase in turnover.
Although this increase in margins is very welcomed there is still increased competition from Europe as their markets are struggling. The UK is seen as a very buoyant & lucrative market.
We are continually looking at areas to increase our market share so as to bolster our all round profitability. To this end we acquired a small company (Lion Lift Controls (2026) Ltd) who are in the same market as us but provide regional support (west of England) and also allows us to tap into smaller markets.
The industry per say still, as ever remains strong and we are still front runners for many large and prestigious projects.
Although this increase in margins is very welcomed there is still increased competition from Europe as their markets are struggling. The UK is seen as a very buoyant & lucrative market.
We are continually looking at areas to increase our market share so as to bolster our all round profitability. To this end we acquired a small company (Lion Lift Controls (2026) Ltd) who are in the same market as us but provide regional support (west of England) and also allows us to tap into smaller markets.
The industry per say still, as ever remains strong and we are still front runners for many large and prestigious projects.
In managing the Company the directors monitor the results against the budget and the previous year through monthly management reports and snapshots of the trading result following each period end. Risk management is an important issue to the Company. The key risks to the business include:
Laws and regulation
No new legislation has affected our industry so far. The EN 81-76 (Evac for Lifts) London Plan – BS9792 Autumn 2025, BS9994 Spring 2026 has more timelines and is nearing full release.
EN 81-76:2025 was published in July 2025 and covers guidance for Lift Evacuation. This is set to impact our industry as further consideration will be required for evacuation procedures.
Economic uncertainties
The Government’s hold on inflation is a worry. Employment costs, new SSP rules are sure to impact the business in the future. Middle East tensions are affecting shipping channels and prices from Far East along with the price of oil affecting the whole world markets.
Laws and regulation
No new legislation has affected our industry so far. The EN 81-76 (Evac for Lifts) London Plan – BS9792 Autumn 2025, BS9994 Spring 2026 has more timelines and is nearing full release.
EN 81-76:2025 was published in July 2025 and covers guidance for Lift Evacuation. This is set to impact our industry as further consideration will be required for evacuation procedures.
Economic uncertainties
The Government’s hold on inflation is a worry. Employment costs, new SSP rules are sure to impact the business in the future. Middle East tensions are affecting shipping channels and prices from Far East along with the price of oil affecting the whole world markets.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company regularly reviews a number of financial and non-financial key performance indicators at both board and operational levels. The Company carries out monthly detailed reviews of each operational and support function at which all aspects of each business and key performance indicators are reviewed.
The Company reviews non-financial KPIs on a regular basis in a number of areas:
Health and safety - the Company aims to achieve year-on-year improvement in accident incidence rate and the Health and Safety Executive benchmark for improvement in the UK.
Customer experience - the Company aspires to deliver supporting a high level of customer satisfaction which is sustainable long-term growth in the sector. Feedback key to most of our customers are received during the year demonstrated that fully or mostly satisfied with our services.
Employee Welfare - The Company is committed to attracting and retaining highly motivated, high-performing teams. As a result, employee turnover across the group remains low.
Health and safety - the Company aims to achieve year-on-year improvement in accident incidence rate and the Health and Safety Executive benchmark for improvement in the UK.
Customer experience - the Company aspires to deliver supporting a high level of customer satisfaction which is sustainable long-term growth in the sector. Feedback key to most of our customers are received during the year demonstrated that fully or mostly satisfied with our services.
Employee Welfare - The Company is committed to attracting and retaining highly motivated, high-performing teams. As a result, employee turnover across the group remains low.
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,430,506 (2024 - £1,924,431).
The dividends for the year amount to £280,000 (2024 - £250,000).
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors who served during the year were:
The auditor, S&W Audit (a trading name of S&W Partners Audit Limited), will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LESTER CONTROL SYSTEMS LIMITED
Opinion
We have audited the financial statements of Lester Control Systems Limited (the ‘Company’) for the year ended 31 December 2025 which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LESTER CONTROL SYSTEMS LIMITED
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors’ remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LESTER CONTROL SYSTEMS LIMITED
In preparing the financial statements, the directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained a general understanding of the Company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the Company’s industry and regulation.
We understand that the Company complies with the framework through:
We understand that the Company complies with the framework through:
∙Outsourcing accounting services, accounts preparation and tax compliance to external experts.
∙Subscribing to relevant updates from external experts, and making changes to internal procedures and controls as necessary.
In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the Company’s ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the Company:
∙The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.
∙UK taxation law.
∙British and EU standards regarding lift safety. EN8120-50 (lift shaft regulations), BS5655, EN8171, BSEN12015.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LESTER CONTROL SYSTEMS LIMITED
The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:
∙Revenue recognition, in particular cut-off and completeness, which is an inherent risk common to owner managed companies.
∙Manipulation of the financial statements, especially management override, via fraudulent journal entries, particularly as the size of the Company means that there is little opportunity for segregation of duties.
∙As with many owner-managed businesses, family members may be on the Company's payroll and awarded salaries which are not commensurate with their roles.
The procedures we carried out to gain evidence in the above areas included:
∙Testing of revenues recognised after the year-end to verify that they should not have been recognised in the financial statements.
∙Challenging management regarding the nature and appropriateness of unexpected or unusual accounting adjustments.
∙Testing journal entries, focusing particularly on postings to unexpected or unusual accounts and those posted at unusual times.
∙Reviewing transactions with family members, including salaries, and assessing whether they are at market rates.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Brockbourne House
77 Mount Ephraim
TN4 8BS
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Lester Control Systems Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number is 01863851 and registered office address is 59 Imperial Way, Croydon, England, CR0 4RR.
The principal activity of the Company is that of manufacture and supply of lift control equipment.
The principal activity of the Company is that of manufacture and supply of lift control equipment.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Lester Controls Systems (Holdings) Limited as at 31 December 2025 and these financial statements may be obtained from Companies House.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Revenue received in respect of deposits are fully refundable until the goods have entered the design and build phase. Where an order is cancelled part way through, the amount of unfinished work in progress is deemed refundable on the deposit.
Rendering of services
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
The estimates and associated assumptions are based on historical experiences and other factors that are considered relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
The key assumptions and other key sources of uncertainty that have a significant effect of the amount recognised in the financial statements are described below:
Warranty provisions
Provisions for damaged or faulty products are calculated and provided for based on historic trends, management's knowledge of products and technological improvements in components. The directors have concluded that the valuations of £145,008 (2024 - £108,064) for provisions are appropriate.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
3.Judgements in applying accounting policies (continued)
Work in progress within stock of £303,151 (2024 - £350,480) is estimated at: 55% (2024 - 55%) of the final sales value whilst being assembled; 57% (2024 - 57%) once production is complete; and 63% (2024 - 63%) once the product is tested and awaiting delivery. These estimates broadly reflect gross profit margins on the products.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
19.Deferred taxation (continued)
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Profit and loss account
Page 28
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
24.Other financial commitments and guarantees
The Company has a Bonds, Guarantees, Indemnities & Standby LC's facility of £60,000.
Barclays Bank Plc holds a guarantee for £60,000 on the Company's account in favour of HMRC.
Barclays Bank Plc holds a guarantee for £60,000 on the Company's account in favour of HMRC.
The directors have identified that in the prior year there was £1,078,697 held in a 95-day fixed-term deposit account which was inappropriately recognised as cash at bank. As the balance was not readily available the 2024 balance has been restated to be included within fixed asset investments. There is no impact on profit.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The immediate parent company is Lester Control Systems (Holdings) Limited . The ultimate parent company is Lester Control Systems (Group) Limited. At the balance sheet date, the ultimate controlling party was Mr P S Davidson, a director. At the date of approval of the financial statements, the ultimate controlling party is Mr B Davidson , a director of Lester Controls Systems (Group) Limited.
Lester Control Systems (Holdings) Limited is the parent company of the smallest and largest group for which consolidated accounts are prepared and of which Lester Control Systems Limited are included. The financial statements of Lester Control Systems (Holdings) Limited are publicly available and can be obtained from Companies House.
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