My Life Property Development Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09648589 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

My Life Property Development Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Bellringer

REGISTERED OFFICE:

16 Beaufort Court

Admirals Way

Docklands

London

E14 9XL

REGISTERED NUMBER:

09648589 (England and Wales)

ACCOUNTANTS:

RBS Accountants Limited

16 Beaufort Court

Admirals Way

London

Docklands

London

E14 9XL

FIXED ASSETS

Tangible assets

4

1,947,631

CURRENT ASSETS

Debtors

5

101,673

91,673

Cash at bank

2,193

1,113

103,866

92,786

CREDITORS

Amounts falling due within one year

6

597,880

588,232

NET CURRENT LIABILITIES

(494,014

)

(495,446

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,617

1,452,185

CREDITORS

Amounts falling due after more than one
year

7

(1,204,070

)

(1,204,070

)

PROVISIONS FOR LIABILITIES

(40,457

)

(40,457

)

NET ASSETS

209,090

207,658

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

8

169,746

Retained earnings

39,244

37,812

SHAREHOLDERS' FUNDS

209,090

207,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

A Bellringer - Director

1.	STATUTORY INFORMATION

My Life Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

1,947,631

NET BOOK VALUE

At 31 December 2024

1,947,631

At 31 December 2023

1,947,631

Cost or valuation at 31 December 2024 is represented by:

Freehold

property

£

Valuation in 2017

210,203

Cost

1,737,428

1,947,631

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

101,673

91,673

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed to group undertakings

592,976

577,976

Tax

4,904

10,256

597,880

588,232

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans - 15 year or more

1,204,070

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

169,746

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A Bellringer.

10.	BANK LOANS

A fixed and floating charge has been created by Paragon Mortgages (2010) Limited on 21 August 2015 over the undertaking and all its assets and property.

A fixed and floating charge has been created by Paragon Bank PLC on 20 March 2019 over the undertaking and all its assets and property.

A fixed and floating charge has been created by Paragon Bank PLC on 31 March 2021 over the undertaking and all its assets and property.

A fixed and floating charge has been created by Paragon Bank PLC on 29 September 2021 over the undertaking and all its assets and property.