|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
FOR |
|
LIFTING GEAR UK LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
FOR |
|
LIFTING GEAR UK LIMITED |
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
|
|
|
Page |
|
Balance Sheet | 1 |
|
Notes to the Financial Statements | 2 |
|
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
BALANCE SHEET |
31 OCTOBER 2018 |
|
31.10.18 | 31.10.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
1. | STATUTORY INFORMATION |
|
Lifting Gear UK Limited is a
|
company's registered number and registered office address are as below: |
|
Registered number: | 09245302 |
|
Registered office: | Unit 1D Maple Court |
White Moss Business Park |
Skelmersdale |
Lancashire |
WN8 9TW |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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 |
|
|
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. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
|
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. |
|
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising |
from impairment are recognised in the income statement |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
|
At 31 October 2018 |
|
AMORTISATION |
Amortisation for year |
|
At 31 October 2018 |
|
NET BOOK VALUE |
At 31 October 2018 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.10.18 | 31.10.17 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
In more than five years |
|
|
|
|
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.10.18 | 31.10.17 |
£ | £ |
Invoice Discounting creditor | - | 17,568 |
|
Security has been provided by way of a debenture, dated 8 May 2015, in respect of an Invoice Discounting |
facility. There was no debt relating to this facility at the balance sheet date. The debenture is over the company's |
assets, in favour of RBS Invoice Finance Limited. |
|
As part of a group reorganisation in 2016, the assets of the company are secured by a fixed and floating charge, |
dated 18 May 2016, in favour of Natwest Plc and Mr Matthew Martin Ainscough. |
|
10. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.18 | 31.10.17 |
value: | £ | £ |
|
Ordinary | £1 | 1 | 1 |
|
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
12. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
LIFTING GEAR UK LIMITED (REGISTERED NUMBER: 09245302) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
|
13. | ULTIMATE CONTROLLING PARTY |
|
The ultimate parent company is Lifting Gear UK Group Limited, a company registered in England and Wales, |
the registered office of which is Unit 1D Maple Court, White Moss Business Park, Skelmersdale, Lancashire, |
WN8 9TW.This company prepares consolidated financial statements for the group. |