REGISTERED NUMBER: |
LIFESTYLE HOMES SOLIHULL LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
LIFESTYLE HOMES SOLIHULL LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LIFESTYLE HOMES SOLIHULL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Cash's Business Centre |
1st Floor |
228 Widdrington Road |
Coventry |
West Midlands |
CV1 4PB |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Lifestyle Homes Solihull Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Computer equipment | - |
No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the director considers that to depreciate them would not enable the financial statements to give a true and fair view. Investment property is stated at its market value at the balance sheet date. |
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 NIL (2023 - |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
VAT |
6. | CURRENT ASSET INVESTMENTS |
31.3.24 | 31.3.23 |
£ | £ |
Other |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Other creditors |
Directors' current accounts | 328,521 | 443,377 |
Accrued expenses |
LIFESTYLE HOMES SOLIHULL LIMITED (REGISTERED NUMBER: 05738136) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans more 5 yr by instal | 2,375,115 | 2,375,115 |
Hampshire trust bank loan | 1,375,643 | 1,005,753 |
Intercompany Loan | 128,923 | 130,023 |
Titash indian & bangladeshi cu | 85,500 | 85,500 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Hampshire trust bank loan |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,375,115 | 2,375,115 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The bank loan is secured by way of a legal charge over the freehold property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordianry | £1 | 100 | 100 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 |
Profit for the year |
At 31 March 2024 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors is £328,522 (2023: £443,377) owed to Mr M Ali, the director. The loan is interest free with no set terms of repayment. |