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REGISTERED NUMBER: 10543439 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

PROPERTIES FOR LIFE LTD

PROPERTIES FOR LIFE LTD (Registered number: 10543439)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROPERTIES FOR LIFE LTD

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C Ogunsalu
Mrs M M Ogunsalu





SECRETARY:





REGISTERED OFFICE: Suite 310e , East Wing
Sterling House, Langston Road
Loughton
IG10 3TS





REGISTERED NUMBER: 10543439 (England and Wales)





ACCOUNTANTS: Taxpoint Direct Limited
Chartered Certified Accountants &Tax Consultants
310E Sterling House
Langston Road
Loughton
IG10 3TS

PROPERTIES FOR LIFE LTD (Registered number: 10543439)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 466,838 467,171

CURRENT ASSETS
Debtors 5 1,700 1,700
Cash at bank and in hand 38,977 34,370
40,677 36,070
CREDITORS
Amounts falling due within one year 6 106,471 103,367
NET CURRENT LIABILITIES (65,794 ) (67,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,044

399,874

CREDITORS
Amounts falling due after more than one
year

7

352,770

352,770
NET ASSETS 48,274 47,104

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48,174 47,004
SHAREHOLDERS' FUNDS 48,274 47,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

PROPERTIES FOR LIFE LTD (Registered number: 10543439)

Balance Sheet - continued
31 January 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 17 July 2024 and were signed on its behalf by:





C Ogunsalu - Director


PROPERTIES FOR LIFE LTD (Registered number: 10543439)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

PROPERTIES FOR LIFE LTD 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

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

PROPERTIES FOR LIFE LTD (Registered number: 10543439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 465,839 3,922 469,761
DEPRECIATION
At 1 February 2023 - 2,590 2,590
Charge for year - 333 333
At 31 January 2024 - 2,923 2,923
NET BOOK VALUE
At 31 January 2024 465,839 999 466,838
At 31 January 2023 465,839 1,332 467,171

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,700 1,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors (1 ) (1 )
Tax 353 337
Tenant deposit 1,700 1,700
Directors' current accounts 104,419 100,731
Accrued expenses - 600
106,471 103,367

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans more 5 yr by instal 352,770 352,770

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 352,770 352,770