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Registered number:  02678113














LIFE ADVERTISING LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2024


 
Life Advertising Ltd
Registered number: 02678113

Balance Sheet
As at 30 August 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
1,061,795
1,063,427

  
1,061,795
1,063,427

Current assets
  

Debtors: amounts falling due within one year
 4 
18,963
18,963

Cash at bank and in hand
 5 
469,050
508,775

  
488,013
527,738

Creditors: amounts falling due within one year
 6 
(163,838)
(163,841)

Net current assets
  
 
 
324,175
 
 
363,897

Total assets less current liabilities
  
1,385,970
1,427,324

  

Net assets
  
1,385,970
1,427,324


Capital and reserves
  

Called up share capital 
 7 
7,500
7,500

Profit and loss account
  
1,378,470
1,419,824

  
1,385,970
1,427,324


For the year ended 30 August 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.



 
Page 1

 
Life Advertising Ltd
Registered number: 02678113
    
Balance Sheet (continued)
As at 30 August 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2025.


R E McGee
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Life Advertising Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 30 August 2024

1.


General information

Life Advertising Limited is a private limited company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales.  Its registered office is Langtons, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.  The company number is 02678113.
These financial statements present information about the company as an individual undertaking.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

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.


 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

Page 3

 
Life Advertising Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 30 August 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Freehold property
-
no depreciation charged
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
straight line
Other fixed assets
-
2%
straight line

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.

 
2.5

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.

 
2.6

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

 
Life Advertising Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 30 August 2024

3.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 31 August 2023
1,059,288
93,958
44,950
13,019
1,211,215



At 30 August 2024

1,059,288
93,958
44,950
13,019
1,211,215



Depreciation


At 31 August 2023
1,861
93,958
38,951
13,019
147,789


Charge for the year on owned assets
131
-
1,500
-
1,631



At 30 August 2024

1,992
93,958
40,451
13,019
149,420



Net book value



At 30 August 2024
1,057,296
-
4,499
-
1,061,795



At 30 August 2023
1,057,428
-
5,999
-
1,063,427




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
1,052,755
1,052,755

1,052,755
1,052,755



4.


Debtors

2024
2023
£
£


Other debtors
18,963
18,963

18,963
18,963


Page 5

 
Life Advertising Ltd
 
 
 
Notes to the Financial Statements
For the Year Ended 30 August 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
469,050
508,775

469,050
508,775



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
28,384
28,384

Other creditors
133,954
133,957

Accruals and deferred income
1,500
1,500

163,838
163,841



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



7,500 (2023 - 7,500) Ordinary shares of £1.00 each
7,500
7,500



8.


Related party transactions

Included in other creditors is a balance of £133,956 (2023: £133,956) owed from the company to the director Mr R E McGee.  All transactions are at an arms length basis.


9.


Controlling party

The ultimate controlling party is Mr R E McGee by virtue of his 100% shareholding in the company.

 
Page 6