P & W Lift Services Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08604647 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

P & W Lift Services Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Povey

S Walker

REGISTERED OFFICE:

14, The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

REGISTERED NUMBER:

08604647 (England and Wales)

ACCOUNTANTS:

Davies Archytas Accountants Ltd

14, The Oaks

Clews Road

Redditch

Worcestershire

B98 7ST

FIXED ASSETS

Tangible assets

4

13,594

17,603

CURRENT ASSETS

Debtors

76,936

60,436

Cash at bank

10,726

23,689

87,662

84,125

CREDITORS

Amounts falling due within one year

63,708

64,774

NET CURRENT ASSETS

23,954

19,351

TOTAL ASSETS LESS CURRENT LIABILITIES

37,548

36,954

CREDITORS

Amounts falling due after more than one year

(34,841

)

(42,857

)

PROVISIONS FOR LIABILITIES

(2,583

)

(3,345

)

NET ASSETS/(LIABILITIES)

124

(9,248

)

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

122

(9,250

)

SHAREHOLDERS' FUNDS

124

(9,248

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 July 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2022 and were signed on its behalf by:

S Walker - Director

1.	STATUTORY INFORMATION

P & W Lift Services Limited 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2021

and 31 July 2022

60,086

DEPRECIATION

At 1 August 2021

42,483

Charge for year

4,009

At 31 July 2022

46,492

NET BOOK VALUE

At 31 July 2022

13,594

At 31 July 2021

17,603

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 August 2021

and 31 July 2022

15,499

DEPRECIATION

At 1 August 2021

8,960

Charge for year

1,635

At 31 July 2022

10,595

NET BOOK VALUE

At 31 July 2022

4,904

At 31 July 2021

6,539

5.

LOANS

An analysis of the maturity of loans is given below:

31.7.22

31.7.21

£

£

Amounts falling due within one year or on demand:

Bank loans

10,000

10,000

31.7.22

31.7.21

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,000

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

23,333

28,333

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

2

Ordinary

£1

2

2

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2022 and 31 July 2021:

31.7.22

31.7.21

£

£

S Povey

Balance outstanding at start of year

2,245

(912

)

Amounts advanced

46,590

3,157

Amounts repaid

(49,001

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(166

)

2,245

S Walker

Balance outstanding at start of year

2,245

(912

)

Amounts advanced

46,590

3,157

Amounts repaid

(49,001

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(166

)

2,245

8.	ULTIMATE CONTROLLING PARTY

During the financial year the controlling parties were the directors by virtue of their 100% ownership of the issued share capital of the company.