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REGISTERED NUMBER: 12900281 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

THE LIFE WORKS PROJECT LIMITED

THE LIFE WORKS PROJECT LIMITED (REGISTERED NUMBER: 12900281)






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


THE LIFE WORKS PROJECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: J Donnelly
L Donnelly





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 12900281 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

THE LIFE WORKS PROJECT LIMITED (REGISTERED NUMBER: 12900281)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,218 66,523

CURRENT ASSETS
Stocks 535 511
Cash at bank 2,943 3,748
3,478 4,259
CREDITORS
Amounts falling due within one year 5 151,308 130,734
NET CURRENT LIABILITIES (147,830 ) (126,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(94,612

)

(59,952

)

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (94,622 ) (59,962 )
(94,612 ) (59,952 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2024 and were signed on its behalf by:



J Donnelly - Director



L Donnelly - Director


THE LIFE WORKS PROJECT LIMITED (REGISTERED NUMBER: 12900281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

The Life Works Project 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.

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.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

THE LIFE WORKS PROJECT LIMITED (REGISTERED NUMBER: 12900281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 83,153
DEPRECIATION
At 1 June 2022 16,630
Charge for year 13,305
At 31 May 2023 29,935
NET BOOK VALUE
At 31 May 2023 53,218
At 31 May 2022 66,523

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17 17,368
Other creditors 4,197 7,281
Directors' current accounts 145,344 104,045
Accrued expenses 1,750 2,040
151,308 130,734

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 25,000 25,000
Between one and five years 33,333 58,333
58,333 83,333

7. GOING CONCERN

At the balance sheet date the company had net deficiency of assets of £94,612 and was therefore dependant upon the continued support from its principle creditors, including the directors.

The directors have confirmed that they will continue to support the company for the foreseeable future.

The financial statements have therefore been prepared on the going concern basis.