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REGISTERED NUMBER: 05738136 (England and Wales)










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: Mr M Ali





REGISTERED OFFICE: Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 05738136 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
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 4,413,030 4,412,999

CURRENT ASSETS
Debtors 5 16,513 56,832
Investments 6 350,000 -
Cash at bank and in hand 2,191 26,900
368,704 83,732
CREDITORS
Amounts falling due within one year 7 (703,735 ) (814,777 )
NET CURRENT LIABILITIES (335,031 ) (731,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,077,999

3,681,954

CREDITORS
Amounts falling due after more than one
year

8

(3,965,181

)

(3,596,391

)
NET ASSETS 112,818 85,563

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 112,718 85,463
SHAREHOLDERS' FUNDS 112,818 85,563

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 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:





Mr M Ali - Director


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 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 - 1 ).

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 4,412,897 570 509 4,413,976
Additions - 75 - 75
At 31 March 2024 4,412,897 645 509 4,414,051
DEPRECIATION
At 1 April 2023 - 468 509 977
Charge for year - 44 - 44
At 31 March 2024 - 512 509 1,021
NET BOOK VALUE
At 31 March 2024 4,412,897 133 - 4,413,030
At 31 March 2023 4,412,897 102 - 4,412,999

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 15,000 15,000
VAT 1,513 41,832
16,513 56,832

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Other 350,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 32,038 32,056
Trade creditors 3,489 6,452
Tax 12,746 5,556
Other creditors 323,836 323,836
Directors' current accounts 328,521 443,377
Accrued expenses 3,105 3,500
703,735 814,777

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
3,965,181 3,596,391

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Hampshire trust bank loan 1,375,643 1,005,753

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 3,778,783 3,412,924

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: £    £   
100 Ordianry £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 85,463
Profit for the year 27,255
At 31 March 2024 112,718

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.