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Registered number:
For the Year Ended
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London Hoist Limited
Company Information
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London Hoist Limited
Contents
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London Hoist Limited
Strategic report
For the Year Ended 31 August 2025
The directors present their strategic report for the year ended 31 August 2025.
Due to uncertainties in the economy and difficult trading conditions in construction sector, Company's turnover has decreased from £6.4m in 2024 to £4.8m in the current year. Increase in wages costs and National Insurance contributions along with general inflation led to operating losses of £1.6m as compared to £912k in 2024. Net assets of the company has decreased to £1.5m in the current year from £3.2m in 2024.The management is consolidating the operation, critically analysing the costing method and revamping the business processes and structures to reduce the costs and overheads which will lead to steady turnover and operating profits.
In today's working environment Health and Safety is an ever-increasing risk and issue in the building industry. The company employs a firm of Health and safety consultants that provide staff training, policy documents, site inspections and tool box talks to the workforce. The company subscribes to 'The Contractors Health and Safety Scheme' that regularly updates the company on Health and Safety matters and regulation.
Other risks include lack of equipment to meet the increased demand in the marketplace which has been addressed by ensuring further investment and supplies of equipment. With the increased demand the company's cost cutting policy will ensure improved profitability for the future. Interest Rate Risk The company has no bank loans. The interest under a debt amortisation agreement with it's main supplier is fixed at a flat rate of 2.5% per annum. Credit Risk The company's principal financial assets are investments, trade and other receivables. The trade and other debtors are net of allowances for doubtful receivables with exposure over a large number of counter parties and customers. Liquidity Risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations the company manages its cash flow from operations. In doing so it has support from its main creditor.
Turnover, GP margin and current ratio are the key performance indicators of the company. Directors closely monitor the key performance indicators on a monthly basis.
This report was approved by the board on 31 August 2026 and signed on its behalf.
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London Hoist Limited
Director's report
For the Year Ended 31 August 2025
The director presents his report and the financial statements for the year ended 31 August 2025.
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 loss for the year, after taxation, amounted to £1,745,247 (2024 - loss £936,640).
The director who served during the year was:
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London Hoist Limited
Director's report (continued)
For the Year Ended 31 August 2025
The auditors, Mantax Lynton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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London Hoist Limited
Independent auditors' report to the members of London Hoist Limited
We have audited the financial statements of London Hoist Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of comprehensive income, the Analysis of net debt, the Statement of financial position, the Statement of cash flows, 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
We draw attention to note 2.2 in the financial statements, which indicates that the Company incurred a loss of £1.7 million during the year, following a loss of £936k in the previous year, and that at the reporting date the Company had net current liabilities of £90,429. The Company was also unable to meet certain scheduled repayments in respect of its long term borrowing from Access Equipments Ltd (AEL), a company registered in Hong Kong which also owns 25% equity shares in the company and remains dependent upon the continuing financial support and revised repayment arrangements agreed with AEL.
As stated in note 2.2, AEL has agreed to reschedule the repayment terms of the loan and has undertaken not to demand repayment of, or take enforcement action in respect of, the amounts due for a period of at least 12 months from the date of approval of the financial statements. These events and conditions, together with the other matters set out in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the director's assessment of the Company's ability to continue to adopt the going concern basis of accounting included reviewing the Company's cash flow forecasts and underlying assumptions, considering the Company's recent and forecast trading performance and the undertaking provided by AEL in respect of the amounts due.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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London Hoist Limited
Independent auditors' report to the members of London Hoist Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.
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London Hoist Limited
Independent auditors' report to the members of London Hoist Limited (continued)
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 Auditors' 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 an understanding of the legal and regulatory frameworks within which the company operates,focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and relevant taxation legislation.
∙We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition, carrying value of intangibles and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the company through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.
∙Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
∙These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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London Hoist Limited
Independent auditors' report to the members of London Hoist Limited (continued)
This report is made solely to the Company's shareholders, 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 shareholders those matters we are required to state to them in an Auditors' 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 shareholders, 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 Auditors
2nd Floor Equitable House
7 General Gordon Square
SE18 6FH
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London Hoist Limited
Statement of comprehensive income
For the Year Ended 31 August 2025
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London Hoist Limited
Registered number: 1993546
Statement of financial position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 43 to 56 form part of these financial statements.
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London Hoist Limited
Statement of changes in equity
For the Year Ended 31 August 2025
Page 40
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London Hoist Limited
Statement of cash flows
For the Year Ended 31 August 2025
Page 41
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London Hoist Limited
Analysis of net debt
For the Year Ended 31 August 2025
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
London Hoist 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.
The presentation currency of the financial statements is the Pound Sterling (£).
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 judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements are prepared on a going concern basis which assumes that the company will be able to continue to trade for the foreseeable future.
During the year, the Company incurred a loss of £1.7 million, compared with a loss of £936k in the previous year. At the reporting date, the Company had net current liabilities of £90,429. During the year, the Company was also unable to meet certain scheduled repayments in respect of its long term borrowing from Access Equipments Limited (AEL), a company registered in Hong Kong and owns 25% equity shares in the company. AEL has agreed to reschedule the repayment terms of the loan and has provided an undertaking that it will not demand repayment of, or take enforcement action in respect of, the amounts due for a period of at least 12 months from the date of approval of these financial statements. In assessing the appropriateness of the going concern basis, the directors have considered the Company's financial position, its recent trading performance, a detailed cash flow forecasts and expected funding requirements for a period of at least 12 months from the date of approval of these financial statements. Notwithstanding these mitigating factors, the Company's recent trading losses, its net current liability position and its dependence upon the continued support of AEL indicate that a material uncertainty exists which may cast significant doubt on the Company's ability to continue as a going concern. The directors nevertheless consider that, having regard to the matters described above and the cash flow forecast and financing arrangements, the Company will have sufficient resources to continue in operational existence for the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern.
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Page 45
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 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.
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Analysis of turnover by country of destination:
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Page 49
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Page 50
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
10.Taxation (continued)
The Company has tax losses of approximately £4 million which are carried forward and available to offset against future profits.
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Share premium account
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £67,481 (2024: £82,268). Contributions totaling £2,256 (2024: £2,654) were payable to the fund at the reporting date and are included in other creditors.
During the year, the director provided interest free unsecured advances totaling £550,000 to the company. The company repaid 108,890 during the year. Amount owed by the Company at the year end was £441,110 which is included in other creditors and is repayable on demand.
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London Hoist Limited
Notes to the financial statements
For the Year Ended 31 August 2025
Barclays bank PLC has created a fixed and floating charges over all assets of the Company in favour of the overdraft facility. Also, the bank has created charge against the director Mr W F Vonck for all monies due or to become due from the company.
The Secretary of State for Environment, Food and Rural Affairs has created a legal charge against the freehold property of the Company known as Area B at Extra farm, Battlegate Road, Boxworth, Cambridgeshire CB23 4NJ. This freehold property has been dispossed off after the year end and the charge has been settled in full.
The Company is controlled by the director.
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