ACCOUNTS - Final Accounts preparation

LIFT-RITE HOLDINGS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falsetruetrueNo description of principal activity00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06650091 2021-01-01 2021-12-31 06650091 2020-05-01 2020-12-31 06650091 2021-12-31 06650091 2020-12-31 06650091 c:Director3 2021-01-01 2021-12-31 06650091 d:ShareCapital 2021-12-31 06650091 d:ShareCapital 2020-12-31 06650091 d:RetainedEarningsAccumulatedLosses 2021-12-31 06650091 d:RetainedEarningsAccumulatedLosses 2020-12-31 06650091 c:FRS102 2021-01-01 2021-12-31 06650091 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 06650091 c:FullAccounts 2021-01-01 2021-12-31 06650091 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06650091 d:Subsidiary1 2021-01-01 2021-12-31 06650091 d:Subsidiary1 1 2021-01-01 2021-12-31 06650091 d:Subsidiary2 2021-01-01 2021-12-31 06650091 d:Subsidiary2 1 2021-01-01 2021-12-31 06650091 d:Subsidiary3 2021-01-01 2021-12-31 06650091 d:Subsidiary3 1 2021-01-01 2021-12-31 06650091 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 06650091

LIFT-RITE HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

LIFT-RITE HOLDINGS LIMITED

REGISTERED NUMBER: 06650091

BALANCE SHEET

AS AT 31 DECEMBER 2021

	2021	2020
Note	£	£

Fixed assets
Investments	4	676,599	676,599
		676,599	676,599

Total assets less current liabilities		676,599	676,599

Net assets		676,599	676,599

Capital and reserves
Called up share capital	112	112
Profit and loss account	676,487	676,487
	676,599	676,599

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 August 2022.

................................................

J Russell

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

LIFT-RITE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Lift-Rite Holdings Limited (company number: 06650091) is a private company limited by shares and incorporated in England and Wales. Its registered office is Benbecula Office, Wincomblee Road, Newcastle upon Tyne, Tyne and Wear, NE6 3QS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

The company is supported by the shareholders. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.
The directors are aware of the COVID-19 pandemic but are confident that the associated risks will continue to be mitigated.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Financial instruments

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.

Employees

	The Company has no employees other than the directors, who did not receive any remuneration (2020 - £NIL).
	The average monthly number of employees, including directors, during the year was 0 (2020 - 0).

Page 2

LIFT-RITE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2021	676,599
	At 31 December 2021	676,599

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Principal activity	Class of shares	Holding

Lift-Rite Engineering Services Limited	Supply of lifting equipment and services	Ordinary	100%
Tyne Gangway (Structures) Limited	Manufacture of marine access systems	Ordinary	100%
Tyne Gangway Limited	Dormant	Ordinary	100%

The registered office of all subsidiaries is Benbecula Office, Wincomblee Road, Newcastle upon Tyne, NE6 3QS

The aggregate of the share capital and reserves as at 31 December 2021 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

Lift-Rite Engineering Services Limited	533,241	(178,426)
Tyne Gangway (Structures) Limited	664,419	(47,234)
Tyne Gangway Limited	100	-

5.	Controlling party

The immediate and ultimate parent company is Benbecula Group Ltd, a company incorporated in England and Wales, company number 10441848.
Benbecula Group Ltd is controlled by Mr JP Reece and Mrs SE Reece.

Page 3