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Life Collections Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Z Ley
Company Number 12750660
Registered Office The Old Rectory The Hatch
Burghfield
Reading
Berkshire
RG30 3TH
Accountants Jones & Partners Limited
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Page 1
Page 2
Balance Sheet
Registered number: 12750660
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 513,130 520,091
Cash at bank and in hand 5 79
513,135 520,170
Creditors: Amounts Falling Due Within One Year 4 (17,943 ) (16,444 )
NET CURRENT ASSETS (LIABILITIES) 495,192 503,726
TOTAL ASSETS LESS CURRENT LIABILITIES 495,192 503,726
Creditors: Amounts Falling Due After More Than One Year 5 (687,792 ) (660,498 )
NET LIABILITIES (192,600 ) (156,772 )
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account (192,601 ) (156,773 )
SHAREHOLDERS' FUNDS (192,600) (156,772)
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 29 August 2025 and were signed on its behalf by:
Z Ley
Director
29 August 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Life Collections Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12750660 . The registered office is The Old Rectory The Hatch, Burghfield, Reading, Berkshire, RG30 3TH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate due to the continued financial support from its parent company.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.4. 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 balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accrual and Deferred Income 17,943 16,444
Page 4
Page 5
5. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 687,792 660,498
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Related Party Transactions
At the year end the company owed £687,792 (2023: £660,498) to Life Partners Ltd, the parent company.
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