2023-09-012024-08-312024-08-31false07367113LIVING FOR LIFE (CUMBRIA) 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LIVING FOR LIFE (CUMBRIA) LIMITED

Registered Number
07367113
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

LIVING FOR LIFE (CUMBRIA) LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

HUNTER, Alan

Registered Address

Northside Community Centre Trinity Drive
Northside
Workington
CA14 1AX

Registered Number

07367113 (England and Wales)
LIVING FOR LIFE (CUMBRIA) LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3186,161187,426
186,161187,426
Current assets
Debtors516,13553,161
Cash at bank and on hand51,28564,996
67,420118,157
Creditors amounts falling due within one year6(99,989)(125,380)
Net current assets (liabilities)(32,569)(7,223)
Total assets less current liabilities153,592180,203
Creditors amounts falling due after one year7(26,528)(43,813)
Provisions for liabilities8(251)(567)
Net assets126,813135,823
Capital and reserves
Called up share capital11
Profit and loss account126,812135,822
Shareholders' funds126,813135,823
The financial statements were approved and authorised for issue by the Director on 19 November 2024, and are signed on its behalf by:
HUNTER, Alan
Director
Registered Company No. 07367113
LIVING FOR LIFE (CUMBRIA) LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Financial instruments
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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year2324
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 September 23185,15711,275196,432
At 31 August 24185,15711,275196,432
Depreciation and impairment
At 01 September 23-9,0069,006
Charge for year-1,2651,265
At 31 August 24-10,27110,271
Net book value
At 31 August 24185,1571,004186,161
At 31 August 23185,1572,269187,426
4.Revaluation of property, plant and equipment
The Freehold property is shown at market value as of 31 August 2024, as valued by the director, Mr A Hunter. If the land and buildings had not been included at valuation they would have been included under the historical cost convention at the following net book value:

2024

2023

££
Land and buildings82,94782,947
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,02438,353
Prepayments and accrued income13,11114,808
Total16,13553,161
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts20,43218,292
Taxation and social security8,85712,683
Other creditors52,05049,155
Accrued liabilities and deferred income18,65045,250
Total99,989125,380
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,52843,813
Total26,52843,813
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)251567
Total251567
9.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £5,473 (2023 - £5,596).
10.Other commitments
At 31 August 2024 the company had future minimum lease payments under non-cancellable operating leases of £4,800 (2023 - £4,800).