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REGISTERED NUMBER: 04375834 (England and Wales)















Financial Statements for the Year Ended 31st December 2023

for

The Life Centre Education Limited

The Life Centre Education Limited (Registered number: 04375834)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Life Centre Education Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Ms E Stanley
Mr A M Kowal
Mrs C Gregg





SECRETARY: Mr G Burns





REGISTERED OFFICE: Stag House
Old London Road
Hertford
Hertfordshire
SG13 7LA





REGISTERED NUMBER: 04375834 (England and Wales)





ACCOUNTANTS: Armstrong & Co
Chartered Accountants
4a Printing House Yard
Hackney Road
London
E2 7PR

The Life Centre Education Limited (Registered number: 04375834)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,792 29,849

CURRENT ASSETS
Stocks 5,501 1,004
Debtors 5 57,137 120,906
Cash at bank 153,493 120,985
216,131 242,895
CREDITORS
Amounts falling due within one year 6 416,087 529,035
NET CURRENT LIABILITIES (199,956 ) (286,140 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(192,164

)

(256,291

)

CREDITORS
Amounts falling due after more than one
year

7

32,715

38,032
NET LIABILITIES (224,879 ) (294,323 )

RESERVES
Income and expenditure account (224,879 ) (294,323 )
(224,879 ) (294,323 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 surplus or deficit 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 Centre Education Limited (Registered number: 04375834)

Balance Sheet - continued
31st December 2023


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 23rd August 2024 and were signed on its behalf by:





Ms E Stanley - Director


The Life Centre Education Limited (Registered number: 04375834)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

The Life Centre Education Limited is a private company, limited by guarantee , 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.

Going concern
During the year the company made a profit before tax of £65,249 (2022 loss: £23,148) and at the balance sheet date had net current liabilities of £199,956 (2022: £286,140). There is a balance sheet deficit of £224,879 (2022: £294,323 deficit). The directors believe that members and customers will continue to support the company in the foreseeable future, that the company will be able to meet its debts as they fall due and it is therefore appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable from the provision of services as per the principal activities of the company, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold premises - in accordance with the property
Fixtures,fittings & office equipment - 33% on cost
Computers & website - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


The Life Centre Education Limited (Registered number: 04375834)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

Deferred income
Deferred income represents amounts received for future periods and is released to the profit and loss account in the period for which it has been received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures,fittings
leasehold Plant and & office Computers
premises machinery equipment & website Totals
£    £    £    £    £   
COST
At 1st January 2023 158,294 5,504 261,827 78,088 503,713
Additions - - 3,042 - 3,042
At 31st December 2023 158,294 5,504 264,869 78,088 506,755
DEPRECIATION
At 1st January 2023 158,294 5,504 232,604 77,462 473,864
Charge for year - - 24,837 262 25,099
At 31st December 2023 158,294 5,504 257,441 77,724 498,963
NET BOOK VALUE
At 31st December 2023 - - 7,428 364 7,792
At 31st December 2022 - - 29,223 626 29,849

The Life Centre Education Limited (Registered number: 04375834)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,183 95,689
Prepayments 21,954 25,217
57,137 120,906

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,318 5,186
Trade creditors 149,946 144,053
Deferred tax 1,479 5,675
Social security and other taxes 5,090 5,512
Other loans 55,000 55,000
Other creditors 61,621 63,757
Pensions 769 998
Accrued expenses 14,542 22,974
Deferred income 122,322 225,880
416,087 529,035

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,453 5,318
Bank loans - 2-5 years 23,224 22,651
Bank loans more 5 yr by instal 4,038 10,063
32,715 38,032

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,038 10,063

8. RELATED PARTY DISCLOSURES

Graham Burns (GB) is a member of the close family of Elizabeth Stanley (who is a director and senior manager of the company).
- During the year the company made purchases from GB of £16,251 (2022: £22,474).
- At the year end the balance due to GB was £670 (2022: £778).