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REGISTERED NUMBER: 09660983 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2024

for

Life Property Services Limited

Life Property Services Limited (Registered number: 09660983)






Contents of the Financial Statements
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Life Property Services Limited

Company Information
for the Year Ended 30th June 2024







DIRECTOR: R Refael





REGISTERED OFFICE: 9 High Road
Rayleigh
Essex
SS6 7SA





REGISTERED NUMBER: 09660983 (England and Wales)





ACCOUNTANTS: Beam & Co Accountancy Limited
1579 London Road
Leigh on Sea
Essex
SS9 2SG

Life Property Services Limited (Registered number: 09660983)

Balance Sheet
30th June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 779,258 823,515
Investment property 5 817,000 835,000
1,596,258 1,658,515

CURRENT ASSETS
Debtors 6 71,579 97,869
Cash at bank 13,949 62,531
85,528 160,400
CREDITORS
Amounts falling due within one year 7 52,932 49,953
NET CURRENT ASSETS 32,596 110,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,628,854

1,768,962

CREDITORS
Amounts falling due after more than one
year

8

386,031

604,365
NET ASSETS 1,242,823 1,164,597

CAPITAL AND RESERVES
Called up share capital 10 535,527 535,527
Revaluation reserve 11 410,501 425,501
Fair value reserve 11 (213,767 ) (195,767 )
Retained earnings 510,562 399,336
SHAREHOLDERS' FUNDS 1,242,823 1,164,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 25th September 2024 and were signed by:



R Refael - Director


Life Property Services Limited (Registered number: 09660983)

Notes to the Financial Statements
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

Life Property Services 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 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.
Land and buildings - 10% on cost

Land & property is revalued using the revaluation model. Periodically it is revalued to the open market value.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2023 - 2 ) .

Life Property Services Limited (Registered number: 09660983)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1st July 2023 940,543
Revaluations (15,000 )
At 30th June 2024 925,543
DEPRECIATION
At 1st July 2023 117,028
Charge for year 29,257
At 30th June 2024 146,285
NET BOOK VALUE
At 30th June 2024 779,258
At 30th June 2023 823,515

Cost or valuation at 30th June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2016 236,538 - 236,538
Valuation in 2021 64,493 - 64,493
Valuation in 2022 65,000 - 65,000
Valuation in 2023 (20,000 ) - (20,000 )
Valuation in 2024 (15,000 ) - (15,000 )
Cost 594,512 - 594,512
925,543 - 925,543

On 30th June 2024 the freehold property was professionally valued on an open market basis by P H H Wheaton FRICS of Fenn Wright.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023 835,000
Revaluations (18,000 )
At 30th June 2024 817,000
NET BOOK VALUE
At 30th June 2024 817,000
At 30th June 2023 835,000

Life Property Services Limited (Registered number: 09660983)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2021 (3,994 )
Valuation in 2022 (160,773 )
Valuation in 2023 (31,000 )
Valuation in 2024 (18,000 )
Cost 1,030,767
817,000

On 30th June 2024 the investment properties were professionally valued on an open market basis by P H H Wheaton FRICS of Fenn Wright.

6. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 13,664 14,214
Other debtors 25,740 25,740
39,404 39,954

Amounts falling due after more than one year:
Other debtors 32,175 57,915

Aggregate amounts 71,579 97,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 15,365
Trade creditors 2,108 74
Taxation and social security 46,828 31,634
Other creditors 3,996 2,880
52,932 49,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 369,466
Amounts owed to group undertakings 386,031 234,899
386,031 604,365

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 302,367

Life Property Services Limited (Registered number: 09660983)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans - 384,831

The bank loans were secured by way of a fixed and floating charge over the company's properties and assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
535,527 Ordinary A 1 535,527 535,527

11. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1st July 2023 425,501 (195,767 ) 229,734
In year fair value adjustment (15,000 ) (18,000 ) (33,000 )

At 30th June 2024 410,501 (213,767 ) 196,734

12. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Life Chiropractic Clinics Limited. During the year the company rented clinic space to Life Chiropractic Clinics Limited for £24,000 (2023: £24,000).

At the year end an inter company loan balance of £386,031 (2023: £234,899) was due to Life Chiropractic Clinics Limited. The loan is repayable on demand and no interest is charged.