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REGISTERED NUMBER: SC246807 (Scotland)















Life Construction (Scotland) Ltd.

Financial Statements For The Year Ended 31 July 2023






Life Construction (Scotland) Ltd. (Registered number: SC246807)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Life Construction (Scotland) Ltd.

Company Information
For The Year Ended 31 July 2023







DIRECTOR: D M Perera





SECRETARY: Mrs M P Perera





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC246807 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Life Construction (Scotland) Ltd. (Registered number: SC246807)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,810 2,182

CURRENT ASSETS
Stocks 124,331 160,000
Debtors 5 11,063 137,889
Cash at bank 7,166 27,823
142,560 325,712
CREDITORS
Amounts falling due within one year 6 136,990 225,979
NET CURRENT ASSETS 5,570 99,733
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,380

101,915

PROVISIONS FOR LIABILITIES 7 - 415
NET ASSETS 7,380 101,500

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 7,280 101,400
SHAREHOLDERS' FUNDS 7,380 101,500

Life Construction (Scotland) Ltd. (Registered number: SC246807)

Balance Sheet - continued
31 July 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 10 April 2024 and were signed by:





D M Perera - Director


Life Construction (Scotland) Ltd. (Registered number: SC246807)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Life Construction (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. 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.
Land and buildings - 10% on cost
Equipment - 20% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

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

Life Construction (Scotland) Ltd. (Registered number: SC246807)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 1,522 3,157 4,679
DEPRECIATION
At 1 August 2022 1,522 975 2,497
Charge for year - 372 372
At 31 July 2023 1,522 1,347 2,869
NET BOOK VALUE
At 31 July 2023 - 1,810 1,810
At 31 July 2022 - 2,182 2,182

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 11,063 137,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 80,940 142,549
Taxation and social security 739 46,262
Other creditors 55,311 37,168
136,990 225,979

7. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax - 415

Deferred
tax
£   
Balance at 1 August 2022 415
Provided during year (415 )
Balance at 31 July 2023 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

Life Construction (Scotland) Ltd. (Registered number: SC246807)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

9. RESERVES
Retained
earnings
£   

At 1 August 2022 101,400
Deficit for the year (19,120 )
Dividends (75,000 )
At 31 July 2023 7,280

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,250 (2022 - £28,050) were paid to the director .

D M Perera
is a director in the company.


Included in other creditors is an interest free directors loan. There are no repayment terms

31.7.23 31.7.22
£    £   
Amount due (to)/from related party at the balance sheet date (44,204 ) 119,546

11. ULTIMATE CONTROLLING PARTY

The controlling party is D M Perera.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Life Construction (Scotland) Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Life Construction (Scotland) Ltd. for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Life Construction (Scotland) Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Life Construction (Scotland) Ltd. and state those matters that we have agreed to state to the director of Life Construction (Scotland) Ltd. in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Life Construction (Scotland) Ltd. and its director for our work or for this report.

It is your duty to ensure that Life Construction (Scotland) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Life Construction (Scotland) Ltd.. You consider that Life Construction (Scotland) Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Life Construction (Scotland) Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


10 April 2024