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REGISTERED NUMBER: 07316258 (England and Wales)















Lifetime Legal Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Lifetime Legal Limited (Registered number: 07316258)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lifetime Legal Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: NJ Addyman
AS Gill
DW Pye
RW Sendall





REGISTERED OFFICE: Marlin
459 London Road
Camberley
Surrey
GU15 3JA





REGISTERED NUMBER: 07316258 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Lifetime Legal Limited (Registered number: 07316258)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 112,034 83,562
112,034 83,562

CURRENT ASSETS
Debtors 6 971,708 1,101,788
Cash at bank and in hand 720,808 563,615
1,692,516 1,665,403
CREDITORS
Amounts falling due within one year 7 1,780,490 1,454,821
NET CURRENT (LIABILITIES)/ASSETS (87,974 ) 210,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,060

294,144

CREDITORS
Amounts falling due after more than one
year

8

(190

)

(95,279

)

PROVISIONS FOR LIABILITIES 9 (20,245 ) (10,029 )
NET ASSETS 3,625 188,836

CAPITAL AND RESERVES
Called up share capital 10 18,173 18,173
Capital redemption reserve 11 3,528 3,528
Retained earnings 11 (18,076 ) 167,135
SHAREHOLDERS' FUNDS 3,625 188,836

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

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

Lifetime Legal Limited (Registered number: 07316258)

Balance Sheet - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





RW Sendall - Director


Lifetime Legal Limited (Registered number: 07316258)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Lifetime Legal 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, was being amortised evenly over its estimated useful life of twenty years. In 2021 the estimated useful life was reduced to 10 years.

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 property - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Lifetime Legal Limited (Registered number: 07316258)

Notes to the Financial Statements - continued
for the year ended 31 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 120 (2022 - 68 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 107,500
AMORTISATION
At 1 January 2023
and 31 December 2023 107,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Lifetime Legal Limited (Registered number: 07316258)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Computer
to property fittings equipment Totals
£ £ £ £
COST
At 1 January 2023 52,632 54,386 207,942 314,960
Additions - 6,995 75,519 82,514
At 31 December 2023 52,632 61,381 283,461 397,474
DEPRECIATION
At 1 January 2023 20,994 46,012 164,392 231,398
Charge for year 10,526 4,783 38,733 54,042
At 31 December 2023 31,520 50,795 203,125 285,440
NET BOOK VALUE
At 31 December 2023 21,112 10,586 80,336 112,034
At 31 December 2022 31,638 8,374 43,550 83,562

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 342,853 512,351
Other debtors 628,855 589,437
971,708 1,101,788

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,069,435 802,349
Taxation and social security 329,511 323,966
Other creditors 381,544 328,506
1,780,490 1,454,821

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Other creditors 190 95,279

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 190 190

Included within other creditors are amounts due to the directors' of £0 (2022: - £95,089) these amounts are unsecured, have interest charged at commercial rates and have no fixed repayment terms.

Lifetime Legal Limited (Registered number: 07316258)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax
Accelerated capital allowances 20,245 10,029

Deferred tax
£
Balance at 1 January 2023 10,029
Charge to Statement of Income and Retained Earnings during year 10,216
Balance at 31 December 2023 20,245

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number Class Nominal 2022 2021
value £ £
7 A Preference £1 7 7
13,572,268 Ordinary 0.1p 13,572 13,572
1 Ordinary A 0.01p - -
4,594,042 Ordinary B 0.01p 4,594 4,594
18,173 18,173

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 January 2023 167,135 3,528 170,663
Deficit for the year (185,211 ) (185,211 )
At 31 December 2023 (18,076 ) 3,528 (14,548 )

12. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by RW Sendall.