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REGISTERED NUMBER: 05500222 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

INDEPENDENT LIFESTYLE OPTIONS LTD

INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,892 14,984

CURRENT ASSETS
Debtors 6 1,070,376 1,028,239
Cash at bank 603 834
1,070,979 1,029,073
CREDITORS
Amounts falling due within one year 7 526,106 470,929
NET CURRENT ASSETS 544,873 558,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,765

573,128

CREDITORS
Amounts falling due after more than one
year

8

(3,563

)

(8,314

)

PROVISIONS FOR LIABILITIES (2,723 ) (3,540 )
NET ASSETS 549,479 561,274

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 549,477 561,272
SHAREHOLDERS' FUNDS 549,479 561,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by:





S C Francis - Director


INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Independent Lifestyle Options Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05500222

Registered office: Chancery House
3 Hatchlands Road
Redhill
RH1 6AA

The presentation currency of the financial statements is the Pound Sterling (£).


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors have considered the company's financial operating requirements for the forthcoming year and expect the company will have sufficient cash reserves to meet those requirements and as a result they have adopted the going concern basis of accounting.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover and revenue recognition
Turnover represents net invoiced sales of services. Revenue is recognised in accordance with the company's contractual obligations relating to the supply of services.

INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery- 25% on cost
Fixtures and fittings- 25% on cost
Motor vehicles- 25% on reducing balance
Computer equipment- 33.33% on cost

Financial instruments
Basic financial assets, which include loans to its parent company, other debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including other creditors are initially recognised at transaction price and are subsequently recognised at amortised cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 111,389
Disposals (1,609 )
At 30 November 2024 109,780
DEPRECIATION
At 1 December 2023 96,405
Charge for year 4,091
Eliminated on disposal (1,608 )
At 30 November 2024 98,888
NET BOOK VALUE
At 30 November 2024 10,892
At 30 November 2023 14,984

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,061,750 1,021,836
Other debtors 8,626 6,403
1,070,376 1,028,239

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,930 307
Hire purchase contracts (see note 9) 4,751 4,751
Trade creditors - 3,695
Taxation and social security 25,277 28,181
Other creditors 489,148 433,995
526,106 470,929

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 3,563 8,314

INDEPENDENT LIFESTYLE OPTIONS LTD (REGISTERED NUMBER: 05500222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:
Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 4,751 4,751
Between one and five years 3,563 8,314
8,314 13,065

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. CONTINGENT LIABILITIES

A cross guarantee is in place with HSBC Bank plc to secure the monies owed to it by Thornton Hill Property Limited. As at 30 November 2024 the amount due to the bank by Thornton Hill Property Limited was £nil (2023: £18,541).

12. ULTIMATE PARENT COMPANY

The ultimate parent company is Thornton Hill Property Limited, a company registered in England and Wales with its registered office at:

Chancery House
3 Hatchlands Road
Redhill
Surrey
RH1 6AA