Registered number
07310541
LIFELINE CARE LIMITED
Filleted Accounts
31 July 2023
LIFELINE CARE LIMITED
Registered number: 07310541
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,472 1,580
Investments 4 357,946 356,526
360,418 358,106
Current assets
Debtors 5 16,450 23,913
Cash at bank and in hand 390,160 231,910
406,610 255,823
Creditors: amounts falling due within one year 6 (42,503) (17,131)
Net current assets 364,107 238,692
Total assets less current liabilities 724,525 596,798
Creditors: amounts falling due after more than one year 7 (154,615) (154,615)
Net assets 569,910 442,183
Capital and reserves
Called up share capital 100 100
Profit and loss account 569,810 442,083
Shareholders' funds 569,910 442,183
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Sunil Sonwalkar
Director
Approved by the board on 9 February 2024
LIFELINE CARE LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery @20% Reducing Balance.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 6,943
Additions 1,510
At 31 July 2023 8,453
Depreciation
At 1 August 2022 5,363
Charge for the year 618
At 31 July 2023 5,981
Net book value
At 31 July 2023 2,472
At 31 July 2022 1,580
4 Investments
Other
investments
£
Cost
At 1 August 2022 356,526
Additions 1,420
At 31 July 2023 357,946
5 Debtors 2023 2022
£ £
Trade debtors 4,683 3,947
Other debtors 11,767 19,966
16,450 23,913
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,525 5,525
Trade creditors - 2,435
Taxation and social security costs 33,621 8,609
Other creditors 3,357 562
42,503 17,131
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 154,615 154,615
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 160,140 160,140
Secured bank loans 160,140 160,140
[The bank loans covered both fixed and floating charge]
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dr. Sunil Sonwalkar
[Loan 1] 9,201 1,365 (1,863) 8,703
9,201 1,365 (1,863) 8,703
10 Controlling party
The directors' have overall control of the company by virtue of majority shareholding.
11 Other information
LIFELINE CARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
34 Clara Drive
Calverey
Pudsey
LS28 5QP
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