REGISTERED NUMBER: 12205283 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

LIFEBOAT CAPITAL LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr T Afshar

REGISTERED OFFICE:

Ahmad Tea Estate

Winchester Road

Southampton

Hampshire

SO53 2PZ

REGISTERED NUMBER:

12205283 (England and Wales)

ACCOUNTANTS:

Underwood Barron LLP

Monks Brook House

13 - 17 Hursley Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2FW

FIXED ASSETS

Investments

4

188,391

156,545

CURRENT ASSETS

Debtors

5

354,230

205,054

Investments

6

1,705,566

1,333,901

Cash at bank

405,214

338,083

2,465,010

1,877,038

CREDITORS

Amounts falling due within one year

7

334,561

332,931

NET CURRENT ASSETS

2,130,449

1,544,107

TOTAL ASSETS LESS CURRENT LIABILITIES

2,318,840

1,700,652

CREDITORS

Amounts falling due after more than one year

8

(1,090,055

)

(1,028,508

)

PROVISIONS FOR LIABILITIES

(239,568

)

(105,687

)

NET ASSETS

989,217

566,457

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

988,217

565,457

989,217

566,457

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 30th September 2025 and were signed by:

Dr T Afshar - Director

1.	STATUTORY INFORMATION

Lifeboat Capital 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.	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 except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

156,545

Additions

31,846

At 31st December 2024

188,391

NET BOOK VALUE

At 31st December 2024

188,391

At 31st December 2023

156,545

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Amounts owed by associates

344,677

195,501

Amounts falling due after more than one year:

Other debtors

9,553

9,553

Aggregate amounts

354,230

205,054

6.	CURRENT ASSET INVESTMENTS

31.12.24

31.12.23

£

£

Listed investments

443,214

759,666

Unlisted investments

1,262,352

574,235

1,705,566

1,333,901

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

(13,599

)

2,540

Other creditors

348,160

330,391

334,561

332,931

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

1,090,055

1,028,508

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

31.12.24

31.12.23

£

£

Dr T Afshar

Balance outstanding at start of year

(318,391

)

(269,689

)

Amounts advanced

88,240

20,110

Amounts repaid

(112,009

)

(68,812

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(342,160

)

(318,391

)

10.	RELATED PARTY DISCLOSURES

During the year the company received repayments from Formara Holding Limited (formerly Lifeboat Management Limited), a company owned and controlled by Dr T Afshar, totalling £10,926. A balance of £128,505 remained owing to the company at 31 December 2024 and is included in Debtors in the accounts.

During the year the company made loans to, and payments on behalf of, Appletex (International) Holdings Limited (formerly Lifeboat Advisory Limited), a company owned and controlled by Dr T Afshar, totalling £160,102. A balance of £216,172 was owed to the company at 31 December 2024 and is included in Debtors in the accounts.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr T Afshar.