L K LIFT Services Limited
L K LIFT Services Limited
Registered number: 06489610
Unaudited Financial Statements
For The Year Ended
31 January 2022
GC Accountancy Management Service Ltd
Howes Farm Office
Doddinghurst Road Pilgrims Hatch
Brentwood
Essex
CM15 0SG
L K LIFT Services Limited
Unaudited Financial Statements
For The Year Ended
31 January 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
L K LIFT Services Limited
Balance Sheet
As at
31 January 2022
Balance Sheet
Registered number:
06489610
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 4 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
( |
( |
||
| NET LIABILITIES |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (3,307) | (8,138) | |||
L K LIFT Services Limited
Balance Sheet (continued)
As at
31 January 2022
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
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
L K LIFT Services Limited
Notes to the Financial Statements
For The Year Ended
31 January 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 |
|
| Motor Vehicles |
|
1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| Office and administration |
|
|
|
|
|
|
||
L K LIFT Services Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
3.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
4.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors |
|
|
|
| Corporation tax recoverable assets |
|
|
|
|
|
|
||
5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Accruals and deferred income |
|
|
|
| Director's loan account |
|
|
|
|
|
|
||
6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
| Other taxes and social security | - |
|
|
|
|
|
||
L K LIFT Services Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
7.
Obligations Under Finance Leases and Hire Purchase
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
|
|
|
| Between one and five years |
|
|
|
|
|
|
||
|
|
|
||
8.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Deferred tax |
|
|
|
|
|
|
||
10.
Dividends
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
| Final dividend paid |
|
|
|
| 10,000 | 9,985 | ||
11.
General Information
L K LIFT Services Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
06489610
. The registered office is Howes Farm Office, Doddinghurst Road Pilgrims Hatch, Brentwood, Essex, CM15 0SG.