Company registration number 08066214 (England and Wales)
PROTECT FOR LIFE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PROTECT FOR LIFE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PROTECT FOR LIFE LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,411
1,200
Current assets
Debtors
4
8,050
26,882
Cash at bank and in hand
106
8,050
26,988
Creditors: amounts falling due within one year
5
(17,677)
(8,349)
Net current (liabilities)/assets
(9,627)
18,639
Total assets less current liabilities
(8,216)
19,839
Creditors: amounts falling due after more than one year
6
(21,434)
(24,408)
Net liabilities
(29,650)
(4,569)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(29,850)
(4,769)
Total equity
(29,650)
(4,569)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 July 2024
Mr G P Salloway
Director
Company registration number 08066214 (England and Wales)
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Protect for Life Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. The company registration number is 08066214.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when services are provided.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% straight line
Computer equipment
20% straight line
1.5
Taxation
Current tax
The tax expense represents the sum of the tax currently payable.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was :
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
7,328
Additions
966
At 31 May 2024
8,294
Depreciation and impairment
At 1 June 2023
6,128
Depreciation charged in the year
755
At 31 May 2024
6,883
Carrying amount
At 31 May 2024
1,411
At 31 May 2023
1,200
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
7,725
7,725
Other debtors
325
19,157
8,050
26,882
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,860
4,368
Taxation and social security
307
2,035
Other creditors
13,510
1,946
17,677
8,349
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,434
24,408