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REGISTERED NUMBER: 09921180 (England and Wales)















Lifestyle Group (UK) Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Lifestyle Group (UK) Ltd (Registered number: 09921180)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lifestyle Group (UK) Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Syal
Mrs J E Syal





REGISTERED OFFICE: Unit 2
Westfield Close
Rawreth Industrial Estate
Rayleigh
Essex
SS6 9RL





BUSINESS ADDRESS: Unit 1
Westfield Close
Rawreth Industrial Estate
Rayleigh
Essex
SS6 9RL





REGISTERED NUMBER: 09921180 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Lifestyle Group (UK) Ltd (Registered number: 09921180)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,280 6,666
Tangible assets 5 59,812 70,988
Investments 6 1,298 1,298
68,390 78,952

CURRENT ASSETS
Inventories 507,338 448,570
Debtors 7 5,132,098 4,730,484
Cash at bank and in hand 652,786 643,182
6,292,222 5,822,236
CREDITORS
Amounts falling due within one year 8 273,545 110,803
NET CURRENT ASSETS 6,018,677 5,711,433
TOTAL ASSETS LESS CURRENT LIABILITIES 6,087,067 5,790,385

CREDITORS
Amounts falling due after more than one
year

9

(1,034

)

(1,135

)

PROVISIONS FOR LIABILITIES (16,239 ) (14,213 )
NET ASSETS 6,069,794 5,775,037

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 6,069,294 5,774,537
SHAREHOLDERS' FUNDS 6,069,794 5,775,037

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.

Lifestyle Group (UK) Ltd (Registered number: 09921180)

Statement of Financial Position - 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 20 November 2024 and were signed on its behalf by:




S Syal - Director



Mrs J E Syal - Director


Lifestyle Group (UK) Ltd (Registered number: 09921180)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lifestyle Group (UK) Ltd 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 (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Lifestyle Group (UK) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Lifestyle Group (UK) Ltd (Registered number: 09921180)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

Lifestyle Group (UK) Ltd (Registered number: 09921180)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 9,470
Additions 1,735
At 31 March 2024 11,205
AMORTISATION
At 1 April 2023 2,804
Charge for year 1,121
At 31 March 2024 3,925
NET BOOK VALUE
At 31 March 2024 7,280
At 31 March 2023 6,666

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 145,299
Additions 7,251
At 31 March 2024 152,550
DEPRECIATION
At 1 April 2023 74,311
Charge for year 18,427
At 31 March 2024 92,738
NET BOOK VALUE
At 31 March 2024 59,812
At 31 March 2023 70,988

Lifestyle Group (UK) Ltd (Registered number: 09921180)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,298
NET BOOK VALUE
At 31 March 2024 1,298
At 31 March 2023 1,298

The company has investments in the following subsidiary undertakings.


Country of
incorporation

Principal activity

Holding

%
Subsidiary undertakings
Banned Ecomm Ltd England & Wales Retailer Ordinary shares 100
Syal sp. z.o.o. Poland Wholesaler Ordinary shares 100

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 258,746 234,750
Other debtors 4,703,452 4,325,834
4,962,198 4,560,584

Amounts falling due after more than one year:
Amounts owed by group undertakings 169,900 169,900

Aggregate amounts 5,132,098 4,730,484

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3 -
Trade creditors 72,172 42,746
Taxation and social security 134,468 27,703
Other creditors 66,902 40,354
273,545 110,803

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,034 1,135

Lifestyle Group (UK) Ltd (Registered number: 09921180)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. LEASING AGREEMENTS
The company has total other operating lease commitments at 31 March 2024 of £48,000.