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The Life Practice Ltd

Financial Statements for the Year Ended 31 March 2024






The Life Practice Ltd (Registered number: 06193320)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Life Practice Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr M Shields
Mrs K L Shields





REGISTERED OFFICE: Top Floor Offices
33 Market Place
Hitchin
Hertfordshire
SG5 1DY





REGISTERED NUMBER: 06193320 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

The Life Practice Ltd (Registered number: 06193320)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,104 2,444

CURRENT ASSETS
Debtors 5 2,875 13,251
Cash at bank 265,656 240,454
268,531 253,705
CREDITORS
Amounts falling due within one year 6 237,577 198,941
NET CURRENT ASSETS 30,954 54,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,058

57,208

CAPITAL AND RESERVES
Called up share capital 25 25
Retained earnings 33,033 57,183
SHAREHOLDERS' FUNDS 33,058 57,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Life Practice Ltd (Registered number: 06193320)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:





Mr M Shields - Director


The Life Practice Ltd (Registered number: 06193320)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

The Life Practice Ltd is a private company, limited by shares , registered in England and Wales. 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.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 1,623 7,596 9,219
Additions - 1,415 1,415
At 31 March 2024 1,623 9,011 10,634
DEPRECIATION
At 1 April 2023 812 5,963 6,775
Charge for year 406 1,349 1,755
At 31 March 2024 1,218 7,312 8,530
NET BOOK VALUE
At 31 March 2024 405 1,699 2,104
At 31 March 2023 811 1,633 2,444

The Life Practice Ltd (Registered number: 06193320)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,875 2,875
Directors' current accounts - 10,376
2,875 13,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 210,482 181,322
Corporation tax 17,638 4,279
VAT 6,946 10,880
Other creditors 600 601
Credit card 1,857 249
Directors' current accounts 54 -
Accrued expenses - 1,610
237,577 198,941