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No description of principal activity
2017-12-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
06010203
2017-12-01
2018-11-30
06010203
2018-11-30
06010203
2017-11-30
06010203
2016-12-01
2017-11-30
06010203
2017-11-30
06010203
core:PlantMachinery
2017-12-01
2018-11-30
06010203
core:MotorVehicles
2017-12-01
2018-11-30
06010203
bus:LeadAgentIfApplicable
2017-12-01
2018-11-30
06010203
bus:Director1
2017-12-01
2018-11-30
06010203
core:LandBuildings
2017-11-30
06010203
core:PlantMachinery
2017-11-30
06010203
core:MotorVehicles
2017-11-30
06010203
core:LandBuildings
2018-11-30
06010203
core:PlantMachinery
2018-11-30
06010203
core:MotorVehicles
2018-11-30
06010203
core:WithinOneYear
2018-11-30
06010203
core:WithinOneYear
2017-11-30
06010203
core:ShareCapital
2018-11-30
06010203
core:ShareCapital
2017-11-30
06010203
core:RetainedEarningsAccumulatedLosses
2018-11-30
06010203
core:RetainedEarningsAccumulatedLosses
2017-11-30
06010203
core:LandBuildings
2017-11-30
06010203
core:PlantMachinery
2017-11-30
06010203
core:MotorVehicles
2017-11-30
06010203
bus:FRS102
2017-12-01
2018-11-30
06010203
bus:AuditExemptWithAccountantsReport
2017-12-01
2018-11-30
06010203
bus:FullAccounts
2017-12-01
2018-11-30
06010203
bus:SmallCompaniesRegimeForAccounts
2017-12-01
2018-11-30
06010203
bus:PrivateLimitedCompanyLtd
2017-12-01
2018-11-30
COMPANY REGISTRATION NUMBER:
06010203
Life Long Learning 4 Living Limited
|
|
Filleted Unaudited Financial Statements
|
|
Life Long Learning 4 Living Limited
|
|
Year ended 30 November 2018
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
The following pages do not form part of the financial statements
Chartered accountants and business advisers report to the board of directors on the preparation of the unaudited statutory financial statements
|
8
|
|
|
Life Long Learning 4 Living Limited
|
|
Statement of Financial Position
|
|
30 November 2018
Fixed assets
Tangible assets
|
5
|
|
124,264
|
124,609
|
|
|
|
|
|
Current assets
Debtors
|
6
|
74,646
|
|
56,195
|
Cash at bank and in hand
|
366,656
|
|
300,779
|
|
---------
|
|
---------
|
|
441,302
|
|
356,974
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
37,063
|
|
33,940
|
|
---------
|
|
---------
|
Net current assets
|
|
404,239
|
323,034
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
528,503
|
447,643
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
(
1,102)
|
(
1,393)
|
|
|
---------
|
---------
|
Net assets
|
|
529,605
|
449,036
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
2
|
2
|
Profit and loss account
|
|
529,603
|
449,034
|
|
|
---------
|
---------
|
Members funds
|
|
529,605
|
449,036
|
|
|
---------
|
---------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Life Long Learning 4 Living Limited
|
|
Statement of Financial Position (continued)
|
|
30 November 2018
These financial statements were approved by the
board of directors
and authorised for issue on
11 June 2019
, and are signed on behalf of the board by:
Company registration number:
06010203
Life Long Learning 4 Living Limited
|
|
Notes to the Financial Statements
|
|
Year ended 30 November 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Old Hall, Ffos-Y-Go, Summerhill, Wrexham, LL11 4TG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for the provision of goods and services to clients during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and Machinery
|
-
|
33% straight line
|
|
Motor Vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Freehold land and buildings are not depreciated as the residual value is so high and expected life so long as to make it immaterial.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans.
Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
20
(2017:
16
).
5.
Tangible assets
|
Land and buildings
|
Plant and machinery
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 December 2017
|
102,390
|
19,972
|
34,174
|
156,536
|
Additions
|
–
|
11,374
|
–
|
11,374
|
Disposals
|
–
|
(
8,196)
|
–
|
(
8,196)
|
|
---------
|
--------
|
--------
|
---------
|
At 30 November 2018
|
102,390
|
23,150
|
34,174
|
159,714
|
|
---------
|
--------
|
--------
|
---------
|
Depreciation
|
|
|
|
|
At 1 December 2017
|
–
|
13,768
|
18,159
|
31,927
|
Charge for the year
|
–
|
7,714
|
4,004
|
11,718
|
Disposals
|
–
|
(
8,195)
|
–
|
(
8,195)
|
|
---------
|
--------
|
--------
|
---------
|
At 30 November 2018
|
–
|
13,287
|
22,163
|
35,450
|
|
---------
|
--------
|
--------
|
---------
|
Carrying amount
|
|
|
|
|
At 30 November 2018
|
102,390
|
9,863
|
12,011
|
124,264
|
|
---------
|
--------
|
--------
|
---------
|
At 30 November 2017
|
102,390
|
6,204
|
16,015
|
124,609
|
|
---------
|
--------
|
--------
|
---------
|
|
|
|
|
|
6.
Debtors
|
2018
|
2017
|
|
£
|
£
|
Trade debtors
|
19,770
|
16,289
|
Other debtors
|
54,876
|
39,906
|
|
--------
|
--------
|
|
74,646
|
56,195
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2018
|
2017
|
|
£
|
£
|
Social security and other taxes
|
34,503
|
28,764
|
Other creditors
|
2,560
|
5,176
|
|
--------
|
--------
|
|
37,063
|
33,940
|
|
--------
|
--------
|
|
|
|
8.
Directors' advances, credits and guarantees
The directors also operated a loan account in the year with an opening balance of £32,998 in debit, net movement of £15,914 debit leaving an overdrawn balance of £48,912. The directors own the property in which the business operates. In the year the company paid the directors for business use of the premises. The total rent paid in the year was £36,000 (2017 £36,000).
9.
Related party transactions
In the year the company employed Mr and Mrs Greenwoods' three sons. The total gross salary paid to them was £59,448 (2017 £50,108). No further transactions with related parties were undertaken such as are required to be disclosed.
Life Long Learning 4 Living Limited
|
|
Year ended 30 November 2018
The following pages do not form part of the financial statements.
Life Long Learning 4 Living Limited
|
|
Chartered Accountants and Business Advisers Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Life Long Learning 4 Living Limited
|
|
Year ended 30 November 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Life Long Learning 4 Living Limited for the year ended 30 November 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Life Long Learning 4 Living Limited, as a body, in accordance with the terms of our engagement letter dated 28 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Life Long Learning 4 Living Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Life Long Learning 4 Living Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Life Long Learning 4 Living Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Life Long Learning 4 Living Limited. You consider that Life Long Learning 4 Living Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Life Long Learning 4 Living Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRUCE ROBERTS & CO LIMITED
Chartered Accountants and Business Advisers
Unit 10, Edison Court
Ellice Way
Wrexham Technology Park
Wrexham
LL13 7YT
11 June 2019