REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 January 2023 |
for |
LIFESTYLE LOFTS LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 January 2023 |
for |
LIFESTYLE LOFTS LIMITED |
LIFESTYLE LOFTS LIMITED (REGISTERED NUMBER: 03852845) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LIFESTYLE LOFTS LIMITED |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
LIFESTYLE LOFTS LIMITED (REGISTERED NUMBER: 03852845) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LIFESTYLE LOFTS LIMITED (REGISTERED NUMBER: 03852845) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Lifestyle Lofts Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
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. |
Turnover |
Turnover represents income received from the rental of property, property deal management fees and sales of property. Rent is recognised in the accounts evenly over the rental agreement.The property deal management fees are recognised as the service is provided. Property sales are recognised when the sale is legally completed and the proportion of costs associated with the site sold are released to cost of sales. |
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. |
Going concern |
The financial statements are prepared on a going concern basis as the company forms part of a small group and the directors have control of the group and consider appropriate financial resources and support is available, in order for the company to meet it's liabilities as they fall due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
LIFESTYLE LOFTS LIMITED (REGISTERED NUMBER: 03852845) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Trade creditors |
Tax |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans - 1-2 years |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.23 | 31.1.22 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |
8. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party as no one individual holds a controlling interest in the issued share capital of the parent company. |
The parent company is Investland Limited, which is incorporated and registered in England. |