Universal Lifting Hire Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10485171 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

UNIVERSAL LIFTING HIRE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Lowe

C Tagliarini

SECRETARY:

A J Company Formations Limited

REGISTERED OFFICE:

The Coach House

The Square

Sawbridgeworth

Hertfordshire

CM21 9AE

REGISTERED NUMBER:

10485171 (England and Wales)

ACCOUNTANTS:

Ashley James Limited

The Coach House

The Square

Sawbridgeworth

Hertfordshire

CM21 9AE

FIXED ASSETS

Intangible assets

4

30,076

30,076

Tangible assets

5

880,670

522,615

Investments

6

125,000

-

1,035,746

552,691

CURRENT ASSETS

Debtors

7

807,364

599,550

Cash at bank

522,549

245,157

1,329,913

844,707

CREDITORS

Amounts falling due within one year

8

(562,479

)

(326,600

)

NET CURRENT ASSETS

767,434

518,107

TOTAL ASSETS LESS CURRENT LIABILITIES

1,803,180

1,070,798

CREDITORS

Amounts falling due after more than one year

9

(200,604

)

(42,232

)

NET ASSETS

1,602,576

1,028,566

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,602,376

1,028,366

SHAREHOLDERS' FUNDS

1,602,576

1,028,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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.

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 2 August 2021 and were signed on its behalf by:

M Lowe - Director

C Tagliarini - Director

1.	STATUTORY INFORMATION

Universal Lifting Hire 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 25% on cost, 20% on reducing balance and 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

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 15 (2019 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2019

and 30 November 2020

30,076

NET BOOK VALUE

At 30 November 2020

30,076

At 30 November 2019

30,076

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

811,169

Additions

615,882

Disposals

(30,845

)

At 30 November 2020

1,396,206

DEPRECIATION

At 1 December 2019

288,554

Charge for year

244,814

Eliminated on disposal

(17,832

)

At 30 November 2020

515,536

NET BOOK VALUE

At 30 November 2020

880,670

At 30 November 2019

522,615

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

125,000

At 30 November 2020

125,000

NET BOOK VALUE

At 30 November 2020

125,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/20

30/11/19

£

£

Trade debtors

662,995

570,563

Other debtors

144,369

28,987

807,364

599,550

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/20

30/11/19

£

£

Hire purchase contracts

65,429

37,676

Trade creditors

187,605

120,582

Taxation and social security

218,997

141,370

Other creditors

90,448

26,972

562,479

326,600

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/20

30/11/19

£

£

Bank loans

50,000

-

Hire purchase contracts

150,604

42,232

200,604

42,232