Registered number: 09750684
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
|
CONTENTS
|
|
Statement of Financial Position
|
|
Notes to the Financial Statements
|
|
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
REGISTERED NUMBER:09750684
|
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
Current asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
REGISTERED NUMBER:09750684
|
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2024.
The notes on pages 3 to 6 form part of these financial statements.
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Life Financial Solutions London Limited is a limited liability company registered in England and Wales. Its registered office address is at 3 Penta Court, Station Road, Borehamwood, Hertfordshire, United Kingdom, WD6 1SL.
The Company's functional and presentational currency is £ sterling.
The principal activity of the company during the year was that of financial intermediation.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Turnover comprises of revenue provided in respect of services supplied in the year exclusive of trade discounts and exclusive of value added tax.
Revenue is recognised when the service is provided.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
The average monthly number of employees, including directors, during the year was 9 (2023 - 10).
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current asset investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|
|
Analysis of the maturity of loans is given below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year
|
|
|
|
|
|
|
|
Amounts falling due 2-5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIFE FINANCIAL SOLUTIONS LONDON LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
100 (2023 - 100) Ordinary shares of £1 each
|
|
|
The Company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,345 (2023 - 4,994).
Contributions totalling £29 (2023 - £820) were payable to the fund at the reporting date and are included in creditors.
|
Related party transactions
|
|
The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemptionallowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.
|
|