Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02565240 2022-04-01 2023-03-31 02565240 2021-04-01 2022-03-31 02565240 2023-03-31 02565240 2022-03-31 02565240 c:Director1 2022-04-01 2023-03-31 02565240 d:FreeholdInvestmentProperty 2023-03-31 02565240 d:FreeholdInvestmentProperty 2022-03-31 02565240 d:CurrentFinancialInstruments 2023-03-31 02565240 d:CurrentFinancialInstruments 2022-03-31 02565240 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02565240 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02565240 d:ShareCapital 2023-03-31 02565240 d:ShareCapital 2022-03-31 02565240 d:RevaluationReserve 2022-04-01 2023-03-31 02565240 d:RevaluationReserve 2023-03-31 02565240 d:RevaluationReserve 2022-03-31 02565240 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 02565240 d:RetainedEarningsAccumulatedLosses 2023-03-31 02565240 d:RetainedEarningsAccumulatedLosses 2022-03-31 02565240 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02565240 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 02565240 c:OrdinaryShareClass1 2022-04-01 2023-03-31 02565240 c:OrdinaryShareClass1 2023-03-31 02565240 c:OrdinaryShareClass1 2022-03-31 02565240 c:OrdinaryShareClass2 2022-04-01 2023-03-31 02565240 c:OrdinaryShareClass2 2023-03-31 02565240 c:OrdinaryShareClass2 2022-03-31 02565240 c:OrdinaryShareClass3 2022-04-01 2023-03-31 02565240 c:OrdinaryShareClass3 2023-03-31 02565240 c:OrdinaryShareClass3 2022-03-31 02565240 c:FRS102 2022-04-01 2023-03-31 02565240 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02565240 c:FullAccounts 2022-04-01 2023-03-31 02565240 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02565240










LIFETIME HOME SECURITIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
LIFETIME HOME SECURITIES LIMITED
REGISTERED NUMBER: 02565240

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,058,000
1,058,000

  
1,058,000
1,058,000

Current assets
  

Debtors: amounts falling due within one year
 5 
19,908
36,819

Cash at bank and in hand
  
507,164
619,693

  
527,072
656,512

Creditors: amounts falling due within one year
 6 
(5,782)
(88,466)

Net current assets
  
 
 
521,290
 
 
568,046

Total assets less current liabilities
  
1,579,290
1,626,046

Provisions for liabilities
  

Deferred tax
 7 
(111,491)
(106,011)

  
 
 
(111,491)
 
 
(106,011)

Net assets
  
1,467,799
1,520,035


Capital and reserves
  

Called up share capital 
 8 
100,000
100,000

Revaluation reserve
 9 
227,728
227,728

Profit and loss account
 9 
1,140,071
1,192,307

  
1,467,799
1,520,035

Page 1

 
LIFETIME HOME SECURITIES LIMITED
REGISTERED NUMBER: 02565240
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R Smeath
Director

Date: 26 September 2023

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Lifetime Home Securities Limited is a private company limited by shares and incorporated in England and Wales, registration number 02565240. The registered office is 1st Floor Holborn Gate, 330 High Holborn, London, WC1V 7PP.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates.
The director has considered key assumptions concerning the future and other key sources of estimation and uncertainty at the end of the reporting period and does not consider there to be any areas where there is a material risk of adjustment to the carrying amounts of assets and liabilities within the next financial year.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has considered the company's position at the time of signing the financial statements, and based on this, the director has concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existence for at least the next 12 months from the date of signing the financial statements. They have therefore continued to adopt the going concern basis of accounting in preparing these financial statements.

Page 3

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,058,000



At 31 March 2023
1,058,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



Page 5

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Amounts owed by participating interest
-
31,812

Tax repayable
19,908
4,441

Prepayments and accrued income
-
566

19,908
36,819



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
7
5,791

Corporation tax
-
68,851

Other taxation and social security
-
8,995

Other creditors
-
59

Accruals and deferred income
5,775
4,770

5,782
88,466


Page 6

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Deferred taxation




2023


£






At beginning of year
(106,011)


Charged to profit or loss
(5,480)



At end of year
(111,491)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(111,491)
(106,011)

(111,491)
(106,011)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



89,999 (2022 - 89,999) "A" Ordinary Shares of £1.00 each
89,999
89,999
10,000 (2022 - 10,000) "B" Ordinary Shares of £1.00 each
10,000
10,000
1 (2022 - 1) "C" Ordinary Shares of £1.00
1
1

100,000

100,000



9.


Reserves

Revaluation reserve

The revaluation reserve includes all increases and decreases in the value of assets held by the Company.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses. 
Page 7

 
LIFETIME HOME SECURITIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Controlling party

The parent company is New Quadrant Trust Corporation Limited.  The ultimate parent company is New Quadrant Partners Limited. Both companies are incorporated in England and Wales.

 
Page 8