REGISTERED NUMBER: 03890186 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

LIFE IT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

H J Myers

M L Doorbar

Secretary:

M L Doorbar

Registered office:

2 The Beeches

Beech Lane

Wilmslow

Cheshire

SK9 5ER

Registered number:

03890186 (England and Wales)

Accountants:

S&W Partners (Manchester) Limited

Accountants

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

15,255

17,921

Investments

6

12

12

15,267

17,933

Current assets

Debtors

7

689,471

637,850

Cash at bank

956,403

944,010

1,645,874

1,581,860

Creditors

Amounts falling due within one year

8

1,133,698

1,135,043

Net current assets

512,176

446,817

Total assets less current liabilities

527,443

464,750

Provisions for liabilities

5,437

6,696

Net assets

522,006

458,054

Capital and reserves

Called up share capital

9

215

215

Capital redemption reserve

98

98

Retained earnings

521,693

457,741

Shareholders' funds

522,006

458,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

M L Doorbar - Director

1.	Statutory information

Life IT Ltd 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.	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.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Turnover in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion. Once the period of support on a contract comes to an end the balance remaining is taken to turnover unless an agreement has been reached to carry forward any unused time.

Deferred revenue represents prepaid support contracts and goods not delivered at the balance sheet date. As at 31 March 2025 the deferred revenue figure was £535,752 (2024 - £475,909).

Tangible fixed assets

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

Fixtures and fittings

-

25% straight line

Computer equipment

-

33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pensions

The company contributes to a group personal pension scheme. Contributions are recognised in the profit and loss account in the period in which they are paid.

4.	Employees and directors

The average number of employees during the year was 23 (2024 - 22 ) .

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2024

61,344

157,079

218,423

Additions

-

8,749

8,749

At 31 March 2025

61,344

165,828

227,172

Depreciation

At 1 April 2024

55,265

145,237

200,502

Charge for year

2,728

8,687

11,415

At 31 March 2025

57,993

153,924

211,917

Net book value

At 31 March 2025

3,351

11,904

15,255

At 31 March 2024

6,079

11,842

17,921

6.	Fixed asset investments

Shares in

group

undertaking

£

Cost

At 1 April 2024

and 31 March 2025

16,614

Provisions

At 1 April 2024

and 31 March 2025

16,602

Net book value

At 31 March 2025

12

At 31 March 2024

12

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

380,573

243,819

Amounts owed by group undertakings

260,230

329,230

Other debtors

48,668

64,801

689,471

637,850

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

140,175

98,117

Amounts owed to group undertakings

12

39,996

Taxation and social security

217,368

289,881

Other creditors

776,143

707,049

1,133,698

1,135,043

The other creditors figure above includes deferred revenue in respect of prepaid support contracts and goods invoiced but not delivered.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,020

Ordinary

10p

102

102

20

A Ordinary

10p

2

2

550

B Ordinary

10p

55

55

550

C Ordinary

10p

55

55

10

D Ordinary

10p

1

1

215

215

10.	Controlling party

The company is controlled by Life Enterprise Technology Group Ltd by virtue of owning 100% of the voting share capital of the company.