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Company No: 13249863 (England and Wales)

LIFESAGE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LIFESAGE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LIFESAGE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
LIFESAGE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 29 57
29 57
Current assets
Debtors 4 1,498 1,898
Cash at bank and in hand 1,923 5,950
3,421 7,848
Creditors: amounts falling due within one year 5 ( 2,824) ( 8,959)
Net current assets/(liabilities) 597 (1,111)
Total assets less current liabilities 626 (1,054)
Net assets/(liabilities) 626 ( 1,054)
Capital and reserves
Called-up share capital 100 100
Profit and loss account 526 ( 1,154 )
Total shareholder's funds/(deficit) 626 ( 1,054)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Lifesage Ltd (registered number: 13249863) were approved and authorised for issue by the Director. They were signed on its behalf by:

Hayley Michelle Tink
Director

11 August 2024

LIFESAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LIFESAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lifesage Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Childs Terrace, Bawburgh, Norwich, NR9 3LN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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 the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2023 113 113
At 31 March 2024 113 113
Accumulated depreciation
At 01 April 2023 56 56
Charge for the financial year 28 28
At 31 March 2024 84 84
Net book value
At 31 March 2024 29 29
At 31 March 2023 57 57

4. Debtors

2024 2023
£ £
Prepayments and accrued income 1,498 1,898

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 198 0
Corporation tax 2,477 3,985
Other creditors 149 4,974
2,824 8,959