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Registered Number: SC567053


 

 

 

LIFE LIGHT ENERGY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 154,780    79,780 
Tangible fixed assets 4 1,468,979    1,711,057 
1,623,759    1,790,837 
Current assets      
Cash at bank and in hand 31    1 
Creditors: amount falling due within one year (5,103,508)   (5,102,217)
Net current assets (5,103,477)   (5,102,216)
 
Total assets less current liabilities (3,479,718)   (3,311,379)
Creditors: amount falling due after more than one year (457,500)   (292,500)
Provisions for liabilities (417,492)   (357,247)
Net assets (4,354,710)   (3,961,126)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (4,354,810)   (3,961,779)
Shareholders' funds (4,354,710)   (3,961,679)
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 01 February 2025 and were signed on its behalf by:


-------------------------------
Bennita Funmilayo Ajayi
Director
1
General Information
Life Light Energy Limited is a private company, limited by shares, registered in , registration number SC567053, registration address 8 Albany Street, Albany Street, Edinburgh, EH1 3QB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 30 Straight Line
Plant and Machinery 10 Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 June 2023 79,780    79,780 
Additions 75,000    75,000 
Disposals  
At 31 May 2024 154,780    154,780 
Amortisation
At 01 June 2023  
Charge for year  
On disposals  
At 31 May 2024  
Net book values
At 31 May 2024 154,780    154,780 
At 31 May 2023 79,780    79,780 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 June 2023 80,000    2,394,115    2,474,115 
Additions    
Disposals    
At 31 May 2024 80,000    2,394,115    2,474,115 
Depreciation
At 01 June 2023 16,000    747,058    763,058 
Charge for year 2,667    239,411    242,078 
On disposals    
At 31 May 2024 18,667    986,469    1,005,136 
Net book values
Closing balance as at 31 May 2024 61,333    1,407,646    1,468,979 
Opening balance as at 01 June 2023 64,000    1,647,057    1,711,057 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2