Airedale Lift Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11664542 (England and Wales)

Airedale Lift Services Limited

Unaudited Financial Statements

for the Year Ended 30 November 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J R Harrison

REGISTERED OFFICE:

6 Alexandra Court

Skipton

Skipton

BD23 2RG

REGISTERED NUMBER:

11664542 (England and Wales)

ACCOUNTANTS:

Walkers Accountants Limited

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

FIXED ASSETS

Tangible assets

4

25,924

17,710

CURRENT ASSETS

Debtors

5

4,045

66,752

Cash at bank

2,639

32,922

6,684

99,674

CREDITORS

Amounts falling due within one year

6

107,926

174,862

NET CURRENT LIABILITIES

(101,242

)

(75,188

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(75,318

)

(57,478

)

CREDITORS

Amounts falling due after more than one year

7

(45,865

)

(5,889

)

PROVISIONS FOR LIABILITIES

(4,926

)

-

NET LIABILITIES

(126,109

)

(63,367

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(126,209

)

(63,467

)

(126,109

)

(63,367

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 August 2022 and were signed by:

D J R Harrison - Director

1.	STATUTORY INFORMATION

Airedale 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.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- The Company has transferred the significant risks and rewards of ownership to the buyer;

- The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- The amount of revenue can be measured reliably;

- It is probable that the Company will receive the consideration due under the transaction; and

- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

-

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of revenue can be measured reliably;

- It is probable that the Company will receive the consideration due under the contract;

- The stage of completion on the contract at the end of the reporting period can be measured reliably; and

- The costs incurred and the costs to complete the contract can be measured reliably.

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

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Government grants

Government grants are accounted for under the accrual model.

Grants received relating to revenue are recognised as income on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate.

Grants received to give immediate financial support are recognised as income in the period in which they become receivable.

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 lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Pension costs and other post-retirement benefits

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Going concern

The director has a reasonable expectation that the company will be able to continue in operational existence and the company is supported by its other group members and as such, can continue to trade for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

28,870

Additions

16,400

At 30 November 2021

45,270

DEPRECIATION

At 1 December 2020

11,160

Charge for year

8,186

At 30 November 2021

19,346

NET BOOK VALUE

At 30 November 2021

25,924

At 30 November 2020

17,710

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

28.11.21

28.11.20

£

£

Motor vehicles

7,076

9,434

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

2,012

60,452

Other debtors

2,033

6,300

4,045

66,752

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans and overdrafts

3,826

50,000

Hire purchase contracts (see note 8)

3,528

3,528

Trade creditors

(50

)

7,243

Amounts owed to group undertakings

95,348

89,574

Taxation and social security

2,811

18,798

Other creditors

2,463

5,719

107,926

174,862

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans

43,503

-

Hire purchase contracts (see note 8)

2,362

5,889

45,865

5,889

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

25,566

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.11.21

30.11.20

£

£

Net obligations repayable:

Within one year

3,528

3,528

Between one and five years

2,362

5,889

5,890

9,417

Non-cancellable operating

leases

30.11.21

30.11.20

£

£

Within one year

3,875

15,500

Between one and five years

-

3,875

3,875

19,375

9.	RELATED PARTY DISCLOSURES

Included within creditors amounts falling due within one year is an amount of £77,083 (2020 - £71,309) due to Airedale Escalator Services Limited, a fellow subsidiary company. The balance is interest free and repayable on demand.

Included within creditors amounts falling due within one year is an amount of £18,265 (2020 - £18,265) due to Airedale Escalator Holdings Limited, the parent company. The balance is interest free and repayable on demand.

Included within administration expenses is a management charge of £NIL (2020 - £50,700) to a fellow subsidiary Airedale Escalator Services Limited in respect of recharged costs.

10.	GOVERNMENT GRANTS

During the year the company received the following government grants in relation to Covid 19:

28.11.21

28.11.20

£

£

JRS Funding

11,323

29,294