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REGISTERED NUMBER: 12002332 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Life On Time Ltd

Life On Time Ltd (Registered number: 12002332)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Life On Time Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr H A C Bailie
Mr J F Belas
Mr J D Ford
Mr M J Harling-Coward





REGISTERED OFFICE: Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD





REGISTERED NUMBER: 12002332 (England and Wales)





ACCOUNTANTS: Accsys Accountants Limited
Chartered Accountants
Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Life On Time Ltd (Registered number: 12002332)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,630 31,470

CURRENT ASSETS
Debtors 5 12,918 8,525
Cash at bank 24,396 435
37,314 8,960
CREDITORS
Amounts falling due within one year 6 48,964 47,029
NET CURRENT LIABILITIES (11,650 ) (38,069 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,980

(6,599

)

CAPITAL AND RESERVES
Called up share capital 120 100
Share premium 34,980 -
Retained earnings 880 (6,699 )
35,980 (6,599 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





Mr J D Ford - Director


Life On Time Ltd (Registered number: 12002332)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Life On Time Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2022 35,250 310 35,560
Additions 27,746 - 27,746
At 31 May 2023 62,996 310 63,306
DEPRECIATION
At 1 June 2022 3,998 92 4,090
Charge for year 11,532 54 11,586
At 31 May 2023 15,530 146 15,676
NET BOOK VALUE
At 31 May 2023 47,466 164 47,630
At 31 May 2022 31,252 218 31,470

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 10,143 8,495
Other debtors 2,775 30
12,918 8,525

Life On Time Ltd (Registered number: 12002332)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 3,942 150
Other creditors 45,022 46,879
48,964 47,029