Innovate Lifts Ltd

Innovate Lifts Ltd from Tunbridge Wells UK: a small, active company founded nine years ago, employs eight people, and holds £1,264,400 in assets. Operating from a virtual address, the company is led by one director and owner. It’s a regular importer of machinery, boilers, and mechanical appliances; parts, with 47 months of import activity recorded, the last in February 2025.

The company’s core business involves the repair of machinery, other construction installation, and the installation of industrial machinery and equipment. It also owns Platform & Goods Lift Company Ltd. The registered address, 76 St Johns Road, TN4 9PH, is probably virtual, as eighty-one companies are registered there.

Financially, Innovate Lifts Ltd shows a mixed picture. Current assets increased by 17% to £1,300,000, while net assets rose 11% to £560,000. Cash bank on hand increased by 25% to £650,000. However, creditors surged by 32% to £790,000, and trade debtors increased by 19% to £450,000. Payments received on account grew by a substantial 86% to £440,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility. The increase in bank borrowings, however, suggests a need for increased funding. There is no auditor mentioned, likely due to exemption as a small company.

The increase in employees from eight to twelve—a 50% jump—is a notable trend. While it could indicate business growth, it also raises questions about whether the company can manage the increased workload and associated costs. The company’s deferred tax policy is based on the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.

Registered in England/Wales under the registration number 09986263, with a registered address at TN4 9PH, United Kingdom, Tunbridge Wells, Kent, 76 St Johns Road.

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