Registration number:
Life3A Limited
for the Year Ended 30 September 2024
Life3A Limited
(Registration number: 09801073)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
345,187 |
389,608 |
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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:
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• |
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• |
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. |
Approved and authorised by the
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......................................... |
Life3A Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in London.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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
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:
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Asset class |
Depreciation method and rate |
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Life3A Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Tangible assets |
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Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Disposals |
( |
( |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Income tax asset |
- |
1 |
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Accrued income |
- |
15,000 |
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Life3A Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
5,042 |
7,084 |
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Amounts owed to related parties |
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PAYE and NIC |
6,711 |
13,186 |
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VAT |
5,873 |
31,787 |
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Accruals and deferred income |
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Corporation tax |
- |
1 |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary Shares of £1 each |
100 |
100 |
100 |
100 |
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Related party transactions |
Income and receivables from related parties
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2024 |
Parent |
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Receipt of services |
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2023 |
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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
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2024 |
Associates |
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Rendering of services |
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2023 |
Associates |
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Rendering of services |
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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.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is