Registered number
11713145
Life Publications (Nottinghamshire) Ltd
Filleted Accounts
31 December 2023
Life Publications (Nottinghamshire) Ltd
Registered number: 11713145
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 203,634 244,361
Tangible assets 4 15,482 28,798
219,116 273,159
Current assets
Debtors 5 118,306 88,976
Cash at bank and in hand 216,671 125,555
334,977 214,531
Creditors: amounts falling due within one year 6 (235,945) (188,447)
Net current assets 99,032 26,084
Total assets less current liabilities 318,148 299,243
Creditors: amounts falling due after more than one year 7 (13,523) (34,167)
Net assets 304,625 265,076
Capital and reserves
Called up share capital 2 2
Profit and loss account 304,623 265,074
Shareholders' funds 304,625 265,076
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Baxter
Director
Approved by the board on 9 August 2024
Life Publications (Nottinghamshire) Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 407,269
At 31 December 2023 407,269
Amortisation
At 1 January 2023 162,908
Provided during the year 40,727
At 31 December 2023 203,635
Net book value
At 31 December 2023 203,634
At 31 December 2022 244,361
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2023 7,214 47,491 54,705
At 31 December 2023 7,214 47,491 54,705
Depreciation
At 1 January 2023 5,284 20,623 25,907
Charge for the year 1,443 11,873 13,316
At 31 December 2023 6,727 32,496 39,223
Net book value
At 31 December 2023 487 14,995 15,482
At 31 December 2022 1,930 26,868 28,798
5 Debtors 2023 2022
£ £
Trade debtors 110,107 85,383
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,824 33
Other debtors 3,375 3,560
118,306 88,976
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,644 15,597
Trade creditors 41,529 44,969
Taxation and social security costs 177,839 122,688
Other creditors 5,933 5,193
235,945 188,447
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 13,523 34,167
8 Other information
Life Publications (Nottinghamshire) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Croydon Road
Caterham
CR3 6QB
Life Publications (Nottinghamshire) Ltd 11713145 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Paul Baxter No description of principal activity 11713145 2022-01-01 2022-12-31 11713145 core:WithinOneYear 2022-12-31 11713145 core:AfterOneYear 2022-12-31 11713145 core:ShareCapital 2022-12-31 11713145 core:RetainedEarningsAccumulatedLosses 2022-12-31 11713145 2023-01-01 2023-12-31 11713145 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11713145 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11713145 bus:Director40 2023-01-01 2023-12-31 11713145 1 2023-01-01 2023-12-31 11713145 2 2023-01-01 2023-12-31 11713145 core:Goodwill 2023-01-01 2023-12-31 11713145 core:PlantMachinery 2023-01-01 2023-12-31 11713145 core:Vehicles 2023-01-01 2023-12-31 11713145 countries:England 2023-01-01 2023-12-31 11713145 bus:FRS102 2023-01-01 2023-12-31 11713145 bus:FilletedAccounts 2023-01-01 2023-12-31 11713145 2023-12-31 11713145 core:WithinOneYear 2023-12-31 11713145 core:AfterOneYear 2023-12-31 11713145 core:ShareCapital 2023-12-31 11713145 core:RetainedEarningsAccumulatedLosses 2023-12-31 11713145 core:Goodwill 2023-12-31 11713145 core:PlantMachinery 2023-12-31 11713145 core:Vehicles 2023-12-31 11713145 2022-12-31 11713145 core:Goodwill 2022-12-31 11713145 core:PlantMachinery 2022-12-31 11713145 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure