Liftlease Limited - Period Ending 2015-01-31

Registration number: 04845504

Liftlease Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

Critchleys LLP
Chartered Accountants
Greyfriars Court
Paradise Square
Oxford
OX1 1BE

Liftlease Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Liftlease Limited - Registration number: 04845504
at 31 January 2015

		Note			2015						2014
	£			£			£			£
Fixed assets
Tangible fixed assets		2						143,048						-
Investments								3,815						3,815
								146,863						3,815
Current assets
Debtors					816,611						728,273
Cash at bank and in hand					192,200						385,239
					1,008,811						1,113,512
Creditors: Amounts falling due within one year					(1,140,079)						(1,139,737)
Net current liabilities								(131,268)						(26,225)
Total assets less current liabilities								15,595						(22,410)
Provisions for liabilities								(28,609)						-
Net liabilities								(13,014)						(22,410)
Capital and reserves
Called up share capital		3			1						1
Profit and loss account					(13,015)						(22,411)
Shareholders' deficit								(13,014)						(22,410)

The notes on pages 3 to 4 form an integral part of these financial statements.
  Page 1

Liftlease Limited - Registration number: 04845504
at 31 January 2015
......... continued

For the year ending 31 January 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 October 2015 and signed on its behalf by:

.........................................
Mr Paul Abbott Richards
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
  Page 2

Liftlease Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant and machinery	15% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Liftlease Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 February 2014		-			3,815			3,815
Additions		168,291			-			168,291
At 31 January 2015		168,291			3,815			172,106
Depreciation
Charge for the year		25,243			-			25,243
Net book value
At 31 January 2015		143,048			3,815			146,863
At 31 January 2014		-			3,815			3,815

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

4

Control

The company is controlled by Paul Richards who owns 100% of the called up share capital.

Page 4