Ideal Lifts Limited

Ideal Lifts Ltd, based in Okehampton, UK, is a small, family-run business with an active status. Founded 21 years ago in 2003, the company employs twelve people and maintains a real address. With four directors and two owners, the business has earned a stellar 5.0 Google rating from 23 reviews. Ideal Lifts Ltd regularly imports machinery, boilers, and mechanical appliances, parts, with the last import operation made on February 01, 2024.

The company specializes in offsite passenger lift solutions for modern construction methods, including timber frame, modular building, and light gauge steel. Its website showcases a range of lift models and services, from installation and design to repair and refurbishment. Notably, Ideal Lifts Ltd offers a unique Ideal Lift Frame System, replacing traditional lift shafts in offsite construction. The website also highlights a separate division, Ideal Lifts Service Limited, which provides maintenance and repair services for various lift types. It’s a busy site, and they have lots of different services.

Financially, Ideal Lifts Ltd’s report presents a mixed picture. Cash bank on hand decreased significantly by 88% to just £13,000, while trade debtors increased by 27% to £760,000. Creditors also rose by 21% to £1,000,000, and bank borrowings decreased by 39% to £16,000. The company’s net assets increased by 12% to £180,000, and equity increased by 12% to £180,000. The company is small, meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. Amounts owed to directors increased to £34,000, which is a notable change. The company’s accounts are unaudited, as they are exempt as a small company.

The sharp decline in cash reserves is a concern, but the increase in trade debtors suggests a possible delay in customer payments. The company’s family ownership and focus on offsite construction solutions position it well for growth, but managing its cash flow will be crucial for long-term success.

Registered in England/Wales under the registration number 04932683, with a registered address at EX20 1UE, England, Okehampton, Unit 5b Cranmere Road, Exeter Road Industrial Estate.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.