Registered number
12023101
Life Property Torquay Limited
Filleted Accounts
31 May 2025

Life Property Torquay Limited
Registered number: | 12023101
Balance Sheet
as at 31 May 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Investments | 4 |  |  | - |  |  | 1,923,000
Current assets
Debtors | 5 |  | 98,102 |  |  | 10,002
Cash at bank and in hand |  |  | 51,423 |  |  | 3,280
|  |  | 149,525 |  |  | 13,282
Creditors: amounts falling due within one year | 6 |  | (287,125) |  |  | (437,017)
Net current liabilities |  |  |  | (137,600) |  |  | (423,735)
Total assets less current liabilities |  |  |  | (137,600) |  |  | 1,499,265
Creditors: amounts falling due after more than one year | 7 |  |  | - |  |  | (1,100,000)
Provisions for liabilities |  |  |  | - |  |  | (127,495)
Net (liabilities)/assets |  |  |  | (137,600) |  |  | 271,770
Capital and reserves
Called up share capital |  |  |  | 2 |  |  | 2
Profit and loss account |  |  |  | (137,602) |  |  | 271,768
Other reserves | 8 |  |  | - |  |  | 382,483
Shareholders' funds |  |  |  | (137,600) |  |  | 271,770
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Simon Berry
Director
Approved by the board on 1 December 2025

Life Property Torquay Limited
Notes to the Accounts
for the year ended 31 May 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention, modified to include investment property at fair value 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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
| Investments
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
| Investments for investment property, which is held to earn rental income and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at the fair value at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account.
| Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
| No depreciation is provided in respect of the investment property using the fair value method.
| Deferred taxation is provided on gains at the rate expected to apply when the investment property is sold.
| Stocks
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
| 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.
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 | Going Concern
| These financial statements have been prepared on a going concern basis which assumes that the company will continue in its operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support from the company's shareholders. If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide for further liabilities that may arise.
3 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 0 |  | 0
4 | Investments
Investment
property
£
| Cost
| At 1 June 2024 | 1,923,000
| Revaluation | (509,978)
| Disposals | (1,413,022)
| At 31 May 2025 | -
| The investment property was valued by the directors on 31 May 2024.
5 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 900 |  | -
| Other debtors | 97,202 |  | 10,002
|  |  |  |  |  | 98,102 |  | 10,002
6 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Trade creditors | 111 |  | 9,117
| Taxation and social security costs | 5,410 |  | 2,397
| Other creditors | 281,604 |  | 425,503
|  |  |  |  |  | 287,125 |  | 437,017
7 | Creditors: amounts falling due after one year | 2025 |  | 2024
£ | £
| Bank loans | - |  | 1,100,000
8 | Other reserves | 2025 |  | 2024
£ | £
| At 1 June 2024 | 382,483 |  | -
| (Loss)/gain on revaluation of land and buildings | (509,978) |  | 509,978
| Deferred taxation arising on the revaluation of land and buildings | 127,495 |  | (127,495)
| At 31 May 2025 | - |  | 382,483
9 | Related party transactions
| Other debtors include £75,200 (2024 - £9,000) due from Life Property Ltd, a company where the directors Simon Berry and Jane Berry have an interest. This loan is interest free, unsecured and repayable on demand. Other debtors include £21,000 (2024 - £nil) due from Life Property Eastbourne Ltd, a company where the directors Simon Berry and Jane Berry have an interest. This loan is interest free, unsecured and repayable on demand. Other creditors include £70,604 (2024 - £25,504) due to Life Property DM Ltd, a company where the directors Simon Berry and Jane Berry have an interest. This loan is interest free, unsecured and repayable on demand. Other creditors include £nil (2024- £400,000) due to the directors Simon Berry and Jane Berry. This loan is interest free, unsecured and repayable on demand.
10 | Controlling party
| As per the directors, there is no controlling party in the company.
11 | Other information
| Life Property Torquay Limited is a private company limited by shares and incorporated in England. Its registered office is:
| 317 Horn Lane
| Acton
| London W3 0BU

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