REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
MAYFAIR LIFESTYLE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
MAYFAIR LIFESTYLE LTD |
MAYFAIR LIFESTYLE LTD (REGISTERED NUMBER: 13816796) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MAYFAIR LIFESTYLE LTD |
COMPANY INFORMATION |
for the Year Ended 31 December 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
MAYFAIR LIFESTYLE LTD (REGISTERED NUMBER: 13816796) |
BALANCE SHEET |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
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. |
The financial statements were approved by the director and authorised for issue on |
MAYFAIR LIFESTYLE LTD (REGISTERED NUMBER: 13816796) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Mayfair Lifestyle Limited is a private company, limited by shares, registered in England and Wales, registration number 13019709. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD and the principal place of business is 35 Ardent Way, Prestwich, Greater Manchester, M25 9WE. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for at least twelve months from the date these financial statements are approved and authorised for issue. |
Turnover |
Turnover represents amounts recognised by the company in respect of services supplied, exclusive of value added tax and trade discounts. Turnover principally consists of sales of therapeutic products, where net takings are recognised as earned. |
Tangible fixed assets |
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Computer equipment | 20% on reducing balance |
At each balance sheet date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for |
bad and doubtful debts. |
MAYFAIR LIFESTYLE LTD (REGISTERED NUMBER: 13816796) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash at bank |
Cash and cash equivalents comprise cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 13,139 | - |
Tax |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
MAYFAIR LIFESTYLE LTD (REGISTERED NUMBER: 13816796) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 120 | 120 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included in other debtors is an amount owed from the director amounting to £13,139 (2023: Nil). This balance represents an interest free loan that is repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
Included within other creditors is a loan due to related party companies of £24,710 (2023: £20,110). These loans are interest free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |