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Registered number: 10624650
Life Charms Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
THB LLP
1&2 Studley Court Mews
Studley Court, Guildford Road
Chobham
Surrey
GU24 8EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10624650
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 59,335 17,728
59,335 17,728
CURRENT ASSETS
Stocks 5 91,681 87,315
Debtors 6 305,806 223,836
Cash at bank and in hand 1,424,150 994,029
1,821,637 1,305,180
Creditors: Amounts Falling Due Within One Year 7 (632,600 ) (536,111 )
NET CURRENT ASSETS (LIABILITIES) 1,189,037 769,069
TOTAL ASSETS LESS CURRENT LIABILITIES 1,248,372 786,797
Creditors: Amounts Falling Due After More Than One Year 8 (3,091 ) (6,928 )
NET ASSETS 1,245,281 779,869
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 1,245,271 779,859
SHAREHOLDERS' FUNDS 1,245,281 779,869
Page 1
Page 2
For the year ending 31 December 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 his 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.
On behalf of the board
Mr Antony Barrett
Director
18/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Life Charms Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10624650 . The registered office is 1&2 Studley Court Mews Stanley Court, Guildford Road, Chobham, Surrey, GU24 8EB.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 - 29,309 8,767 38,076
Additions 42,742 6,401 1,940 51,083
As at 31 December 2024 42,742 35,710 10,707 89,159
Depreciation
As at 1 January 2024 - 16,465 3,883 20,348
Provided during the period 3,562 4,333 1,581 9,476
As at 31 December 2024 3,562 20,798 5,464 29,824
Net Book Value
As at 31 December 2024 39,180 14,912 5,243 59,335
As at 1 January 2024 - 12,844 4,884 17,728
5. Stocks
2024 2023
£ £
Finished goods 91,681 87,315
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 290,721 209,298
Other debtors 15,085 14,538
305,806 223,836
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 55,640 118,822
Bank loans and overdrafts - 10,000
Other creditors 270,292 255,905
Taxation and social security 306,668 151,384
632,600 536,111
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 3,837
Other creditors 3,091 3,091
3,091 6,928
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5