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REGISTERED NUMBER: 03852845 (England and Wales)











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: Mr J P Gerrard
Mr M Gerrard





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 03852845 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
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 1,300,512 1,300,207
Cash at bank 33,494 36,579
1,334,006 1,336,786
CREDITORS
Amounts falling due within one year 5 16,835 10,921
NET CURRENT ASSETS 1,317,171 1,325,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,317,171

1,325,865

CREDITORS
Amounts falling due after more than one year 6 1,395,000 1,395,000
NET LIABILITIES (77,829 ) (69,135 )

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings (78,129 ) (69,435 )
SHAREHOLDERS' FUNDS (77,829 ) (69,135 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20 October 2023 and were signed on its behalf by:




Mr J P Gerrard - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 - 2 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Amounts owed by group undertakings 1,298,045 1,296,544
Other debtors - 1,500
Prepayments and accrued income 2,467 2,163
1,300,512 1,300,207

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 12,963 6,000
Tax 242 1,631
Accruals and deferred income 3,630 3,290
16,835 10,921

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 1,395,000 1,395,000

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
300 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.