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REGISTERED NUMBER: 10250575 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Design 4 Life Property Limited

Design 4 Life Property Limited (Registered number: 10250575)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Design 4 Life Property Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr M I Younger
Mrs T Younger





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 10250575 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Design 4 Life Property Limited (Registered number: 10250575)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 957,767 816,872

CURRENT ASSETS
Debtors 5 2,241 2,269
Cash at bank 115 20,650
2,356 22,919
CREDITORS
Amounts falling due within one year 6 (546,016 ) (550,635 )
NET CURRENT LIABILITIES (543,660 ) (527,716 )
TOTAL ASSETS LESS CURRENT LIABILITIES 414,107 289,156

CREDITORS
Amounts falling due after more than one year 7 (372,869 ) (408,123 )

PROVISIONS FOR LIABILITIES (31,794 ) (1,959 )
NET ASSETS/(LIABILITIES) 9,444 (120,926 )

CAPITAL AND RESERVES
Called up share capital 8 200 200
Revaluation reserve 9 129,279 -
Retained earnings 9 (120,035 ) (121,126 )
SHAREHOLDERS' FUNDS 9,444 (120,926 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Design 4 Life Property Limited (Registered number: 10250575)

Balance Sheet - continued
29 February 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 27 August 2024 and were signed on its behalf by:





Mr M I Younger - Director


Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Design 4 Life Property 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is rent receivable excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property - 2% on reducing balance
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Going concern
The company is reliant on the support of its director and shareholders and having made appropriate enquiries, the director has considered the future cashflow of the company and is not aware of any reason why the company will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the director has continued to adopt the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 March 2023 929,086 11,310 24,951
Revaluations 159,604 - -
At 29 February 2024 1,088,690 11,310 24,951
DEPRECIATION
At 1 March 2023 122,523 9,269 19,754
Charge for year 16,132 510 1,299
At 29 February 2024 138,655 9,779 21,053
NET BOOK VALUE
At 29 February 2024 950,035 1,531 3,898
At 28 February 2023 806,563 2,041 5,197

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 16,250 1,180 982,777
Revaluations - - 159,604
At 29 February 2024 16,250 1,180 1,142,381
DEPRECIATION
At 1 March 2023 13,386 973 165,905
Charge for year 716 52 18,709
At 29 February 2024 14,102 1,025 184,614
NET BOOK VALUE
At 29 February 2024 2,148 155 957,767
At 28 February 2023 2,864 207 816,872

Cost or valuation at 29 February 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2024 159,604 - -
Cost 929,086 11,310 24,951
1,088,690 11,310 24,951

Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2024 - - 159,604
Cost 16,250 1,180 982,777
16,250 1,180 1,142,381

Freehold property was valued on an open market basis on 29th February 2024 by a third party.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Prepayments 2,241 2,269

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 37,555 39,854
Tax 2,833 -
VAT 315 5,558
Design 4 Life 502,939 502,939
Directors' current accounts 624 624
Accrued expenses 1,750 1,660
546,016 550,635

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 37,555 39,854
Bank loans - 2-5 years 112,664 119,562
Bank loans more 5 yr by instal 222,650 248,707
372,869 408,123

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 222,650 248,707

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 'A' Ordinary £1 100 100
100 'B' Ordinary £1 100 100
200 200

Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (121,126 ) - (121,126 )
Profit for the year 130,370 130,370
Assets revalued in period (129,279 ) 129,279 -
At 29 February 2024 (120,035 ) 129,279 9,244