Company Registration No. 08066214 (England and Wales)
PROTECT FOR LIFE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
PAGES FOR FILING WITH REGISTRAR
PROTECT FOR LIFE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PROTECT FOR LIFE LIMITED
BALANCE SHEET
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
576
-
Current assets
Debtors
4
73
10,123
Cash at bank and in hand
844
-
917
10,123
Creditors: amounts falling due within one year
5
(22,321)
(29,037)
Net current liabilities
(21,404)
(18,914)
Total assets less current liabilities
(20,828)
(18,914)
Creditors: amounts falling due after more than one year
6
(11,203)
-
Net liabilities
(32,031)
(18,914)
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
(32,231)
(19,114)
Total equity
(32,031)
(18,914)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PROTECT FOR LIFE LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 February 2020
Mr G P Salloway
Director
Company Registration No. 08066214
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
- 3 -
1
Accounting policies
Company information
Protect for Life Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
St.Helens House, King Street, Derby, DE1 3EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when services are provided.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
20% straight line
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2018 - 3).
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2018
4,719
Additions
720
Disposals
(559)
At 31 May 2019
4,880
Depreciation and impairment
At 1 June 2018
4,719
Depreciation charged in the year
144
Eliminated in respect of disposals
(559)
At 31 May 2019
4,304
Carrying amount
At 31 May 2019
576
At 31 May 2018
-
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
73
10,123
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
4,924
15,913
Trade creditors
4,375
-
Taxation and social security
5,624
2,790
Other creditors
7,398
10,334
22,321
29,037
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
11,203
-
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
- 5 -
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
200 Ordinary of £1 each
200
200