REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
FOR |
LIFEIN COMPANY LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
FOR |
LIFEIN COMPANY LTD |
LIFEIN COMPANY LTD (REGISTERED NUMBER: 14634545) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 2 February 2023 to 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LIFEIN COMPANY LTD |
COMPANY INFORMATION |
For The Period 2 February 2023 to 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
111 Charterhouse Street |
London |
EC1M 6AW |
LIFEIN COMPANY LTD (REGISTERED NUMBER: 14634545) |
BALANCE SHEET |
29 February 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges her 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 were approved by the director and authorised for issue on |
LIFEIN COMPANY LTD (REGISTERED NUMBER: 14634545) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 2 February 2023 to 29 February 2024 |
1. | STATUTORY INFORMATION |
Lifein Company Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the period 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. |
LIFEIN COMPANY LTD (REGISTERED NUMBER: 14634545) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 2 February 2023 to 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Recognition and measurement: |
The Company enters into basic financial instrument transactions that result in the recognition of |
financial assets and liabilities like trade and other debtors and creditors and loans from banks. |
Debt instruments (other than those wholly repayable or receivable within one year), including |
loans and account receivables and payables, are initially measured at the transaction price |
(adjusted for transaction cost) and subsequently at amortised cost using the effective interest |
method. Debt instruments that are payable or receivable within one year, typically trade debtors |
and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash |
or other consideration expected to be paid or received. However, if the arrangement constitutes |
a financing transaction, such as a trade debtor or creditor on extended credit terms, initial |
measurement is at the present value of future cash flows discounted at a market rate of interest. |
Subsequent measurement is at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each |
reporting period for objective evidence of impairment. If such evidence is identified, an impairment |
loss is recognised in the statement of comprehensive income. |
For financial assets measured at amortised cost, the impairment loss is measured as the |
difference between carrying amount and the present value of estimated cash flows discounted |
at the original effective interest rate. If the financial instrument has a variable interest rate the |
currently effective rate under the contract is used. |
For financial assets measured at cost less impairment, the impairment loss is measured |
as the difference between an asset’s carrying amount and best estimate of the recoverable |
amount, which is an approximation of the amount that the Company would receive for the |
asset if it were to be sold at the reporting date. Financial assets and liabilities are offset, and |
the net amount reported in the statement of financial position when there is an enforceable |
right to set off the recognised amounts and there is an intention to settle on a net basis |
or to realise the asset and settle the liability simultaneously. At present, the Company has not |
offset any items. |
Derecognition |
A financial asset is derecognised only when: |
- the contractual rights to the cash flows from the financial asset expire or are settled; or |
- substantially all of the risks and rewards of ownership of the financial asset have been |
transferred to another party; or |
- when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the Company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. |
LIFEIN COMPANY LTD (REGISTERED NUMBER: 14634545) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 2 February 2023 to 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires.Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Tax |
Directors' current accounts | 86 |
Accruals and deferred income |