Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-3011falsetrue102023-10-01No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04829307 2023-10-01 2024-09-30 04829307 2022-10-01 2023-09-30 04829307 2024-09-30 04829307 2023-09-30 04829307 c:Director1 2023-10-01 2024-09-30 04829307 d:FurnitureFittings 2023-10-01 2024-09-30 04829307 d:FurnitureFittings 2024-09-30 04829307 d:FurnitureFittings 2023-09-30 04829307 d:CurrentFinancialInstruments 2024-09-30 04829307 d:CurrentFinancialInstruments 2023-09-30 04829307 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04829307 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 04829307 d:RetainedEarningsAccumulatedLosses 2024-09-30 04829307 d:RetainedEarningsAccumulatedLosses 2023-09-30 04829307 c:FRS102 2023-10-01 2024-09-30 04829307 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 04829307 c:FullAccounts 2023-10-01 2024-09-30 04829307 c:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 04829307 2 2023-10-01 2024-09-30 04829307 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 04829307


LIFETIME LAWYERS LTD
(Formerly Solicitors For The Elderly Limited) 
(A company limited by guarantee)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
LIFETIME LAWYERS LTD
 
(A company limited by guarantee)
REGISTERED NUMBER: 04829307

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2024
2023
2023
£
£
£
£

  

Current assets
  

Cash at bank and in hand
 5 
898,155
745,903

  
898,155
745,903

Creditors: amounts falling due within one year
 6 
(333,669)
(346,877)

Net current assets
  
 
 
564,486
 
 
399,026

Total assets less current liabilities
  
564,486
399,026

  

Net assets
  
564,486
399,026


Capital and reserves
  

Profit and loss account
  
564,486
399,026

Total equity
  
564,486
399,026


Page 1

 
LIFETIME LAWYERS LTD
 
(A company limited by guarantee)
REGISTERED NUMBER: 04829307
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 income and retained earnings 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 by: 




................................................
H Chantler
Director

Date: 24 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LIFETIME LAWYERS LTD

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Solicitors For The Elderly Limited is a private company limited by guarantee. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London N3 1LF.

2.Accounting policies

 
2.1

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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
LIFETIME LAWYERS LTD

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight-line method

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LIFETIME LAWYERS LTD

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 11).

Page 5

 
LIFETIME LAWYERS LTD

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2023
12,839



At 30 September 2024

12,839



Depreciation


At 1 October 2023
12,839



At 30 September 2024

12,839



Net book value



At 30 September 2024
-



At 30 September 2023
-


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
898,155
745,903



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
1,518
612

Other taxation and social security
-
2,951

Accruals and deferred income
332,151
343,314

333,669
346,877


Page 6

 
LIFETIME LAWYERS LTD

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Pension commitments

The Company operates 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 £7,561 (2023: £5,146). Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 7