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Registered number:
FOR THE PERIOD ENDED 31 DECEMBER 2025
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THE LIFT SHARED SERVICES LIMITED
COMPANY INFORMATION
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THE LIFT SHARED SERVICES LIMITED
CONTENTS
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THE LIFT SHARED SERVICES LIMITED
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The director presents his report and the financial statements for the period ended 31 December 2025.
The director who served during the period was:
The director is responsible for preparing 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 judgements 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.
There have been no significant events affecting the Company since the period end.
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THE LIFT SHARED SERVICES LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
The director has prepared the financial statements on the going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The director has also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.
On the basis of the above, the director considers that it is appropriate to prepare the financial statements on a going concern basis.
The auditors, Wisteria Audit Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on
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THE LIFT SHARED SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT SHARED SERVICES LIMITED
We have audited the financial statements of The Lift Shared Services Limited (the 'Company') for the period 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 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.
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.
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 director with respect to going concern are described in the relevant sections of this report.
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THE LIFT SHARED SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT SHARED SERVICES 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 Director's Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Director's Report has 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 Director's Report.
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THE LIFT SHARED SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT SHARED SERVICES 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.
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 applicable to the Company, and sector in which they operate. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements such as: Financial Reporting Standard 102 Section 1A applicable in the UK and Republic of Ireland ('United Kingdom Generally Accepted Accounting Practice') Companies Act 2006 and taxations laws.
∙We understood how the Company are complying with those legal and regulatory frameworks through discussions with management and those charged with governance.
∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
−identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
−understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
−challenging assumptions and judgements made by management in its significant accounting estimates;
−identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
−assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.
Our procedures to obtain sufficient appropriate audit evidence in response to the assessment risks of material misstatement due to fraud included:
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THE LIFT SHARED SERVICES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LIFT SHARED SERVICES LIMITED (CONTINUED)
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
∙Performing a detailed review of the Company's period-end adjusting entries;
∙Enquiries being made of management with regard to actual and potential litigation and claims;
∙Obtaining and reviewing minutes of Board meetings, evidence of legal fees incurred, and any correspondence with HMRC, for indicators of possible fraud and non-compliance;
∙Testing the appropriateness of the accounting policies relating to revenue recognition and performing specific procedures over the occurrence and cut-off of revenue around the period end;
∙Carrying out substantive testing of journal entries to assess whether they are appropriate, and evaluation the business rationale of any significant transactions that are unusual or outside the normal course of business;
∙Performing a detailed review of key accounting estimates, and assessing whether the judgements made in arriving at the accounting estimates are indicative of potential bias; and
∙We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.
These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.
A further description of our responsibilities is located on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' 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 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 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 Auditors
Pikes End
Middlesex
HA5 2EX
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THE LIFT SHARED SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
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THE LIFT SHARED SERVICES LIMITED
REGISTERED NUMBER: 15885759
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 10 to 18 form part of these financial statements.
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THE LIFT SHARED SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Lift Shared Services Limited is a private company limited by shares incorporated on 8 August 2024 in England and Wales. The registered office is 86-90 3rd Floor, Paul Street, London, EC2A 4NE.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 United States Dollars, as this is the functional and presentational currency of the Company. Monetary amounts in these financial statements are rounded to the nearest dollar. The financial statements cover the long period from incorporation on 8 August 2024 to 31 December 2025. The accounting reference period was extended to align the company's financial year end with the reporting timeline of the group. As this is the first financial period for the company, no comparative information is presented.
The following principal accounting policies have been applied:
The director has prepared the financial statements on the going concern basis, having obtained a signed letter of financial support from the parent company for a period of at least 12 months from the date of signing these financial statements. The director has also assessed the financial ability of the parent company to be able to provide financial support for a period of at least 12 months from the date of signing these financial statements.
On the basis of the above, the director considers that it is appropriate to prepare the financial statements on a going concern basis. Turnover is recognised over the period in which the related services are provided and the Company’s right to consideration arises, in accordance with the agreed intercompany recharge arrangements. Where services are recharged on a cost-plus basis, turnover is measured by reference to the specific costs incurred plus the agreed mark-up.
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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, using the straight-line method.
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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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
Non-basic financial instruments are initially recognised at fair value on the date the contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value are recognised in profit or loss.
Other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss. The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. Other financial assets, including investments in equity instruments which are not subsidiaries, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Transactions in currencies other than United States Dollars 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 are included in the profit and loss account for the period. Critical judgements There were no judgements required to be made in preparing the accounts which had, or could have had, a material impact on the accounts. Critical estimates There were no estimates required to be made in preparing the accounts, which had, or could have had, a material impact on the accounts.
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
5.Taxation (continued)
There were no factors that may affect future tax charges.
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
During the period 1,000 ordinary shares having a nominal value of £0.01 were allotted for an aggregate consideration of $13.
Profit and loss account
The Company contributes into a defined contribution pension plan. The pension cost charge represents the employer's contributions payable by the Company to the fund and amounted to $953. There were employer's contributions outstanding at the period end which totalled $953.
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THE LIFT SHARED SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
The Lift Shared Services Limited is a fully owned subsidiary of The Lift Holdco Limited, a private company limited by share capital, incorporated in the United Kingdom, Company number 15923995.
The address of the registered office of The Lift Holdco Limited is 86-90 3rd Floor, Paul Street, London, EC2A 4NE. The ultimate controlling party of The Lift Shared Services Limited is A A Rodriguez, by virtue of his indirect majority shareholding in the parent company.
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