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REGISTERED NUMBER: 10560058 (England and Wales)












REAL LIFE ADVICE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REAL LIFE ADVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S E Johnson
N A Hopkins





REGISTERED OFFICE: Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 10560058 (England and Wales)

REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 426 -

CURRENT ASSETS
Debtors 5 82,482 25,225
Cash at bank 16,992 3,998
99,474 29,223
CREDITORS
Amounts falling due within one year 6 (203,277 ) (205,000 )
NET CURRENT LIABILITIES (103,803 ) (175,777 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(103,377

)

(175,777

)

CREDITORS
Amounts falling due after more than one
year

7

(32,927

)

(33,712

)
NET LIABILITIES (136,304 ) (209,489 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 59,909 59,909
Retained earnings (197,213 ) (270,398 )
(136,304 ) (209,489 )

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

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

REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

BALANCE SHEET - continued
31 MARCH 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 2 September 2024 and were signed on its behalf by:




S E Johnson - Director



N A Hopkins - Director


REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Real Life Advice 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.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Going concern
At the balance sheet date the company has net liabilities and is dependant upon the support of the directors' to continue trading. The directors' indicated that their support will continue for a period of at least 12 months from the date of signing these financial statements and have concluded that with the right management actions the company is a going concern. Accordingly the directors' have prepared the financial statements on this 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.

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

Computer equipment - 33% Straight Line
Office equipment - 20% Straight Line

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.


REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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 profit or loss 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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£ £ £
COST
At 1 April 2023 4,169 4,863 9,032
Additions - 640 640
At 31 March 2024 4,169 5,503 9,672
DEPRECIATION
At 1 April 2023 4,169 4,863 9,032
Charge for year - 214 214
At 31 March 2024 4,169 5,077 9,246
NET BOOK VALUE
At 31 March 2024 - 426 426
At 31 March 2023 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 82,482 25,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,373 9,509
Trade creditors 8,013 -
Taxation and social security 76,761 58,666
Other creditors 108,130 136,825
203,277 205,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 32,927 33,712

8. LEASING AGREEMENTS
At the balance sheet date the company had commitments totalling £54,173 (2023: £26,813) under operating leases.

REAL LIFE ADVICE LIMITED (REGISTERED NUMBER: 10560058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 43,300 43,221

The company has benefited from the UK government's provision of security for 100% of this bank loan.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £36,938 (2023: £nil) were made by the company to the directors. Repayments of £ni (2023: £nil) were made by the directors in the year.The balance owed by the directors to the company at the year-end was £36,938 (2023: £nil). Interest has been charged at HMRC's official rate of interest and the advances are repayable on demand.