| Lifestyle Marine Properties Ltd |
| Registered number: |
07925240 |
| Balance Sheet |
| as at 31 January 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
295,000 |
|
|
295,000 |
|
| Current assets |
| Cash at bank and in hand |
|
|
148 |
|
|
(3) |
|
| Creditors: amounts falling due within one year |
4 |
|
(186,703) |
|
|
(192,528) |
|
| Net current liabilities |
|
|
|
(186,555) |
|
|
(192,531) |
|
| Total assets less current liabilities |
|
|
|
108,445 |
|
|
102,469 |
|
|
| Provisions for liabilities |
|
|
|
(11,970) |
|
|
(11,970) |
|
|
| Net assets |
|
|
|
96,475 |
|
|
90,499 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
96,474 |
|
|
90,498 |
|
| Shareholder's funds |
|
|
|
96,475 |
|
|
90,499 |
|
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| N Jones |
| Director |
| Approved by the board on 31 October 2025 |
|
| Lifestyle Marine Properties Ltd |
| Notes to the Accounts |
| for the year ended 31 January 2025 |
|
|
| 1 |
Accounting policies |
|
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
|
Turnover |
|
Turnover represents revenue earned from letting and is recognised upon receipt. |
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
|
Investment properties |
|
Investment properties are measured at fair value based on open market value. Changes in fair value are recognised in profit or loss. |
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment properties |
| £ |
|
Cost |
|
At 1 February 2024 |
295,000 |
|
At 31 January 2025 |
295,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 January 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2025 |
295,000 |
|
At 31 January 2024 |
295,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
232,000 |
|
232,000 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
232,000 |
|
232,000 |
|
|
|
|
|
|
|
|
|
|
|
The properties were revalued at fair value in April 2019 by the managing director, Mr Nick Jones. Fair value was ascertained by review of current prices on an active market for similar property in the same location and condition. |
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
542 |
|
362 |
|
Corporation tax |
1,992 |
|
3,578 |
|
Other creditors |
184,169 |
|
188,588 |
|
|
|
|
|
|
186,703 |
|
192,528 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
N Jones - Managing Director |
|
Included in other creditors is a loan due to Mr Jones of £184,169 (2024: £188,588). The loan arose from the transfer of property title from Mr Jones to the company and is made free of interest. Mr Jones has assured that he will not draw substantially upon the loan if to do so would have an averse effect on the financial stability of the company. |
|
|
|
| 6 |
Other information |
|
|
Lifestyle Marine Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
5a Church Road South |
|
Woolton Village |
|
Liverpool |
|
L25 7RJ |