LIF CARS SOLUTION LTD

Company Registration Number:
11978271 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

LIF CARS SOLUTION LTD

Contents of the Financial Statements

for the Period Ended 31 May 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

LIF CARS SOLUTION LTD

Company Information

for the Period Ended 31 May 2023




Director: FLORIN LITA
Registered office: Cardiff
CF14 8LH
Company Registration Number: 11978271 (England and Wales)

LIF CARS SOLUTION LTD

Directors' Report Period Ended 31 May 2023

The directors present their report with the financial statements of the company for the period ended 31 May 2023

Principal Activities

Sale of used cars and light motor vehicles

Directors

The directors shown below have held office during the whole of the period from 01 June 2022 to 31 May 2023
FLORIN LITA

This report was approved by the board of directors on 16 February 2024
And Signed On Behalf Of The Board By:

Name: FLORIN LITA
Status: Director

LIF CARS SOLUTION LTD

Profit and Loss Account

for the Period Ended 31 May 2023


Notes

2023
£

2022
£
Turnover 42,299 15,953
Cost of sales ( 8,915 ) ( 6,759 )
Gross Profit or (Loss) 33,384 10,101
Income from coronavirus (COVID-19) business support grants - 907
Administrative Expenses ( 32,888 ) ( 9,986 )
Operating Profit or (Loss) 496 115
Profit or (Loss) Before Tax 496 115
Profit or (Loss) for Period 496 115

The notes form part of these financial statements

LIF CARS SOLUTION LTD

Balance sheet

As at 31 May 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 100 100
Total fixed assets: 100 100
Current assets
Cash at bank and in hand: 496
Total current assets: 496
Net current assets (liabilities): 496
Total assets less current liabilities: 596 100
Creditors: amounts falling due after more than one year: 5 ( 13,300 ) ( 13,300 )
Total net assets (liabilities): ( 12,704 ) ( 13,200 )

The notes form part of these financial statements

LIF CARS SOLUTION LTD

Balance sheet continued

As at 31 May 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 6 ( 12,804 ) ( 13,300 )
Shareholders funds: ( 12,704 ) ( 13,200 )

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 February 2024
And Signed On Behalf Of The Board By:

Name: FLORIN LITA
Status: Director

The notes form part of these financial statements

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Intangible fixed assets amortisation policy

    Intangible Assets are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised on a systematic basis over their useful lives.

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 3. Off balance sheet disclosure

    No

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Intangible assets

Goodwill Total
Cost £ £
At 01 June 2022 100 100
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 May 2023 100 100
Amortisation
Amortisation at 01 June 2022 - -
Charge for year - -
On disposals - -
Other adjustments - -
Amortisation at 31 May 2023 - -
Net book value
Net book value at 31 May 2023 100 100
Net book value at 31 May 2022 100 100

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

5.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 13,300 13,300
Total 13,300 13,300

LIF CARS SOLUTION LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

6. Revaluation reserve


2023
£
Balance at 01 June 2022 ( 13,300 )
Surplus or deficit after revaluation 496
Balance at 31 May 2023 ( 12,804 )