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Registered Number: 08159096
England & Northern Ireland

 

 

 

LIFELONG PORTFOLIO MANAGEMENT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,215    1,561 
1,215    1,561 
Current assets      
Debtors 4 62   
Cash at bank and in hand 24,728    33,746 
24,790    33,746 
Creditors: amount falling due within one year 5 (9,040)   (11,716)
Net current assets 15,750    22,030 
 
Total assets less current liabilities 16,965    23,591 
Creditors: amount falling due after more than one year 6 (5,834)   (7,790)
Net assets 11,131    15,801 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 11,128    15,798 
Shareholder's funds 11,131    15,801 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 15 April 2024 and were signed by:


-------------------------------
Paul Elliott
Director
1
General Information
Lifelong Portfolio Management Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 08159096, registration address 117 Liverpool Road, Cadishead, M44 5BG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Computer Equipment 30 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2022 2,028    237    1,138    3,403 
Additions      
Disposals      
At 31 July 2023 2,028    237    1,138    3,403 
Depreciation
At 01 August 2022 1,283    164    395    1,842 
Charge for year 112    11    223    346 
On disposals      
At 31 July 2023 1,395    175    618    2,188 
Net book values
Closing balance as at 31 July 2023 633    62    520    1,215 
Opening balance as at 01 August 2022 745    73    743    1,561 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Directors' Current Accounts 62   
62   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 9,015    10,995 
Accrued Expenses 26    69 
Other Creditors (1)   (1)
Directors' Current Accounts   653 
9,040    11,716 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 5,834    7,790 
5,834    7,790 

2