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Registered Number: 08159096
England & Northern Ireland

 

 

 

LIFELONG PORTFOLIO MANAGEMENT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 955    1,215 
955    1,215 
Current assets      
Debtors 4 1,761    62 
Cash at bank and in hand 8,537    24,728 
10,298    24,790 
Creditors: amount falling due within one year 5 (7,408)   (9,040)
Net current assets 2,890    15,750 
 
Total assets less current liabilities 3,845    16,965 
Creditors: amount falling due after more than one year 6 (3,834)   (5,834)
Net assets 11    11,131 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 8    11,128 
Shareholders' funds 11    11,131 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 financial statements were approved by the director on 08 April 2025 and were signed by:


-------------------------------
Paul Elliott
Director
1
General Information
Lifelong Portfolio Management Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 08159096, registration address 117 Liverpool Road, Cadishead, M44 5BG.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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:
Plant and Machinery 15 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Computer Equipment 30 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 2,028    237    1,138    3,403 
Additions      
Disposals      
At 31 July 2024 2,028    237    1,138    3,403 
Depreciation
At 01 August 2023 1,395    175    618    2,188 
Charge for year 95    9    156    260 
On disposals      
At 31 July 2024 1,490    184    774    2,448 
Net book values
Closing balance as at 31 July 2024 538    53    364    955 
Opening balance as at 01 August 2023 633    62    520    1,215 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Directors' Current Accounts 1,761    62 
1,761    62 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 7,363    9,015 
Accrued Expenses 47    26 
Other Creditors (2)   (1)
7,408    9,040 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 3,834    5,834 
3,834    5,834 

2