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Registration number: 09801073

Life3A Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Life3A Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Life3A Limited

(Registration number: 09801073)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,513

5,393

Current assets

 

Debtors

5

166,957

247,778

Cash at bank and in hand

 

217,532

274,072

 

384,489

521,850

Creditors: Amounts falling due within one year

6

(40,715)

(136,187)

Net current assets

 

343,774

385,663

Total assets less current liabilities

 

345,287

391,056

Provisions for liabilities

-

(1,348)

Net assets

 

345,287

389,708

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

345,187

389,608

Shareholders' funds

 

345,287

389,708

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 June 2025 and signed on its behalf by:
 

.........................................
Stewart James Dean
Director

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in London.

The address of its registered office is:
71 - 75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom

These financial statements were authorised for issue by the Board on 3 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company’s parent is currently reviewing its future plans in respect of the group’s presence in the UK and EU. Life 3A Limited remains active pending a final decision and continues to benefit from the full support of its parent. The accounts have therefore been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reportedin the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing differences.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings and equipment

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 7).

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

15,498

15,498

Disposals

(6,077)

(6,077)

At 30 September 2024

9,421

9,421

Depreciation

At 1 October 2023

10,105

10,105

Charge for the year

1,884

1,884

Eliminated on disposal

(4,081)

(4,081)

At 30 September 2024

7,908

7,908

Carrying amount

At 30 September 2024

1,513

1,513

At 30 September 2023

5,393

5,393

5

Debtors

2024
£

2023
£

Trade debtors

144,919

201,300

Prepayments

1,332

8,510

Other debtors

20,706

22,967

Income tax asset

-

1

Accrued income

-

15,000

166,957

247,778

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

5,042

7,084

Amounts owed to related parties

8

14,268

72,193

PAYE and NIC

 

6,711

13,186

VAT

 

5,873

31,787

Accruals and deferred income

 

8,307

9,950

Corporation tax

 

-

1

Other creditors

 

514

1,986

 

40,715

136,187

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Related party transactions

Income and receivables from related parties

2024

Parent
£

Receipt of services

126,379

2023

During the year the company provided services to its Parent under normal commercial terms as summarised above. The total amount owed by its parent at the end of the year was £126,379 (2023: £nil) which is included in Trade Debtors.
 

Expenditure with and payables to related parties

 

Life3A Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024

Associates
£

Rendering of services

117,674

2023

Associates
£

Rendering of services

283,647

During the year the company received services from other group companies which were provided under normal commercial terms as summarised above. The total amount owing to related parties at the end of the year was £14,268 (2023: £72,193) which is included in Trade Creditors.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Marchese Partners International Pty Ltd, incorporated in Australia.

 The ultimate parent is Maxton Pty Ltd, incorporated in Australia.