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PROPERTY LIFESTYLE LIMITED

Registered Number
10751339
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

PROPERTY LIFESTYLE LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

BANFIELD, Paul Lawrence

Registered Address

1 Gemini Court
42a Throwley Way
Sutton
SM1 4AF

Registered Number

10751339 (England and Wales)
PROPERTY LIFESTYLE LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,5652,156
3,5652,156
Current assets
Debtors46,22712,004
Cash at bank and on hand25,55624,861
31,78336,865
Creditors amounts falling due within one year5(23,944)(20,702)
Net current assets (liabilities)7,83916,163
Total assets less current liabilities11,40418,319
Creditors amounts falling due after one year6(10,388)(17,261)
Provisions for liabilities7(677)(410)
Net assets339648
Capital and reserves
Called up share capital100100
Profit and loss account239548
Shareholders' funds339648
The financial statements were approved and authorised for issue by the Director on 12 August 2024, and are signed on its behalf by:
BANFIELD, Paul Lawrence
Director
Registered Company No. 10751339
PROPERTY LIFESTYLE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 234,3654,365
Additions2,5972,597
At 31 May 246,9626,962
Depreciation and impairment
At 01 June 232,2092,209
Charge for year1,1881,188
At 31 May 243,3973,397
Net book value
At 31 May 243,5653,565
At 31 May 232,1562,156
4.Debtors: amounts due within one year

2024

2023

££
Other debtors6,22712,004
Total6,22712,004
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts7,0007,000
Taxation and social security14,54711,524
Other creditors2,3972,178
Total23,94420,702
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,38817,261
Total10,38817,261
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)677410
Total677410
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BANFIELD, Paul Lawrence12,0046,22712,0046,227
12,0046,22712,0046,227
The director repaid the loan within 9 months of the accounting year end.