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REGISTERED NUMBER: 02995359 (England and Wales)















LIFE & GENERAL (SEDGLEY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LIFE & GENERAL (SEDGLEY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A.E. Coton
H.B. Coton



SECRETARY: Mrs R J Coton



REGISTERED OFFICE: 1 Bilston Street
Sedgley
Dudley
West Midlands
DY3 1JA



REGISTERED NUMBER: 02995359 (England and Wales)



ACCOUNTANTS: Hollingsworth & Co Ltd
Coppice House
Halesfield 7
Telford
Shropshire
TF7 4NA



BANKERS: The Royal Bank of Scotland PLC
37 Princess Street
Wolverhampton
WV1 1HD

LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,209 19,076
Tangible assets 5 24,091 39,883
40,300 58,959

CURRENT ASSETS
Debtors 220,961 183,728
Cash at bank 126,759 180,192
347,720 363,920
CREDITORS
Amounts falling due within one year 215,756 258,043
NET CURRENT ASSETS 131,964 105,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,264

164,836

CREDITORS
Amounts falling due after more than one
year

(15,127

)

(25,217

)

PROVISIONS FOR LIABILITIES 6 (6,221 ) (7,678 )
NET ASSETS 150,916 131,941

CAPITAL AND RESERVES
Called up share capital 7 4,000 4,000
Retained earnings 8 146,916 127,941
SHAREHOLDERS' FUNDS 150,916 131,941

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 July 2024 and were signed on its behalf by:




A.E. Coton - Director



H.B. Coton - Director


LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Life & General (Sedgley) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents commission received during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website Development costs is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 28,767
AMORTISATION
At 1 January 2023 9,691
Amortisation for year 2,867
At 31 December 2023 12,558
NET BOOK VALUE

At 31 December 2023 16,209
At 31 December 2022 19,076

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 98,775
Additions 3,285
Disposals (24,732 )
At 31 December 2023 77,328
DEPRECIATION
At 1 January 2023 58,892
Charge for year 15,746
Eliminated on disposal (21,401 )
At 31 December 2023 53,237
NET BOOK VALUE
At 31 December 2023 24,091
At 31 December 2022 39,883

6. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred taxation 6,221 7,678

LIFE & GENERAL (SEDGLEY) LIMITED (REGISTERED NUMBER: 02995359)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 7,678
Credit to Income Statement during year (1,457 )
Balance at 31 December 2023 6,221

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,000 Ordinary £1 4,000 4,000

8. RESERVES
Retained
earnings
£   

At 1 January 2023 127,941
Profit for the year 46,975
Dividends (28,000 )
At 31 December 2023 146,916

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company operates from premises owned by Mr A.E.Coton, a director of the company.The rent paid during the year was £18,000 (2022:£15,000).