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COMPANY REGISTRATION NUMBER: 11154913
Drive Life Well Ltd
Filleted Unaudited Financial Statements
31 January 2023
Drive Life Well Ltd
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Current assets
Debtors
5
6,149
19,027
Cash at bank and in hand
66,022
70,203
--------
--------
72,171
89,230
Creditors: amounts falling due within one year
6
22,195
39,381
--------
--------
Net current assets
49,976
49,849
--------
--------
Total assets less current liabilities
49,976
49,849
Creditors: amounts falling due after more than one year
7
41,455
46,550
--------
--------
Net assets
8,521
3,299
--------
--------
Capital and reserves
Called up share capital
4
4
Profit and loss account
8,517
3,295
-------
-------
Shareholders funds
8,521
3,299
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Drive Life Well Ltd
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
S Songaila
Director
Company registration number: 11154913
Drive Life Well Ltd
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, 32-34 Station Close, Potters Bar, EN6 1TL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods .
Financial instruments
Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Trade debtors
6,149
19,027
-------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
16,032
28,059
Social security and other taxes
5,289
10,448
Other creditors
874
874
--------
--------
22,195
39,381
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
41,455
46,550
--------
--------