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Company registration number: 05813323
POSITIVE LIFESTYLE COACHING LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 May 2024
POSITIVE LIFESTYLE COACHING LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
POSITIVE LIFESTYLE COACHING LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mrs A D Richards
Mr J G Richards
Secretary Mr J G Richards
Company number 05813323
Registered office Shrewsbury Golf Club
Condover
Shrewsbury
Shropshire
SY5 7BL
Business address Shrewsbury Golf Club
Condover
Shrewsbury
Shropshire
SY5 7BL
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
POSITIVE LIFESTYLE COACHING LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF POSITIVE LIFESTYLE COACHING LIMITED
YEAR ENDED 31ST MAY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Positive Lifestyle Coaching Limited for the year ended 31 May 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Positive Lifestyle Coaching Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Positive Lifestyle Coaching Limited and state those matters that we have agreed to state to the board of directors of Positive Lifestyle Coaching Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Positive Lifestyle Coaching Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Positive Lifestyle Coaching Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Positive Lifestyle Coaching Limited. You consider that Positive Lifestyle Coaching Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Positive Lifestyle Coaching Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
29 January 2025
POSITIVE LIFESTYLE COACHING LIMITED
STATEMENT OF FINANCIAL POSITION
31ST MAY 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 13,143 9,905
_______ _______
13,143 9,905
Current assets
Stocks 120,000 119,500
Debtors 6 12,960 17,972
Cash at bank and in hand 2,639 1,121
_______ _______
135,599 138,593
Creditors: amounts falling due
within one year 7 ( 80,779) ( 79,232)
_______ _______
Net current assets 54,820 59,361
_______ _______
Total assets less current liabilities 67,963 69,266
Creditors: amounts falling due
after more than one year 8 ( 10,263) ( 20,050)
Provisions for liabilities ( 2,497) ( 1,882)
_______ _______
Net assets 55,203 47,334
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 55,199 47,330
_______ _______
Shareholders funds 55,203 47,334
_______ _______
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mrs A D Richards Mr J G Richards
Director Director
Company registration number: 05813323
POSITIVE LIFESTYLE COACHING LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST MAY 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 June 2022 4 38,674 38,678
Profit for the year 51,156 51,156
_______ _______ _______
Total comprehensive income for the year - 51,156 51,156
Dividends paid and payable ( 42,500) ( 42,500)
_______ _______ _______
Total investments by and distributions to owners - ( 42,500) ( 42,500)
_______ _______ _______
At 31 May 2023 and 1 June 2023 4 47,330 47,334
Profit for the year 37,869 37,869
_______ _______ _______
Total comprehensive income for the year - 37,869 37,869
Dividends paid and payable ( 30,000) ( 30,000)
_______ _______ _______
Total investments by and distributions to owners - ( 30,000) ( 30,000)
_______ _______ _______
At 31 May 2024 4 55,199 55,203
_______ _______ _______
POSITIVE LIFESTYLE COACHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MAY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Shrewsbury Golf Club, Condover, Shrewsbury, Shropshire, SY5 7BL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 June 2023 35,156 35,156
Additions 5,541 5,541
Disposals ( 2,860) ( 2,860)
_______ _______
At 31 May 2024 37,837 37,837
_______ _______
Depreciation
At 1 June 2023 25,251 25,251
Charge for the year 1,465 1,465
Disposals ( 2,022) ( 2,022)
_______ _______
At 31 May 2024 24,694 24,694
_______ _______
Carrying amount
At 31 May 2024 13,143 13,143
_______ _______
At 31 May 2023 9,905 9,905
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 12,767 17,791
Other debtors 193 181
_______ _______
12,960 17,972
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 9,965 9,818
Trade creditors 49,187 42,813
Corporation tax 8,268 12,324
Social security and other taxes 7,944 8,038
Other creditors 5,415 6,239
_______ _______
80,779 79,232
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 10,263 20,050
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J G Richards ( 347) ( 65) ( 412)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr J G Richards ( 173) ( 174) ( 347)
_______ _______ _______