Company Registration No. 08066214 (England and Wales)
PROTECT FOR LIFE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
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 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
964
855
Current assets
Debtors
4
25,248
3,870
Cash at bank and in hand
493
2,666
25,741
6,536
Creditors: amounts falling due within one year
5
(10,560)
(8,350)
Net current assets/(liabilities)
15,181
(1,814)
Total assets less current liabilities
16,145
(959)
Creditors: amounts falling due after more than one year
6
(27,833)
(8,764)
Net liabilities
(11,688)
(9,723)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(11,888)
(9,923)
Total equity
(11,688)
(9,723)
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 2021 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 2 September 2021
Mr G P Salloway
Director
Company Registration No. 08066214
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
- 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
1.5
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred
. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was :
2021
2020
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2020
5,409
Additions
449
At 31 May 2021
5,858
Depreciation and impairment
At 1 June 2020
4,554
Depreciation charged in the year
340
At 31 May 2021
4,894
Carrying amount
At 31 May 2021
964
At 31 May 2020
855
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Corporation tax recoverable
681
Other debtors
24,567
3,870
25,248
3,870
PROTECT FOR LIFE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 5 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
5,567
4,924
Trade creditors
1,492
1,145
Corporation tax
681
Other taxation and social security
939
412
Other creditors
1,881
1,869
10,560
8,350
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
27,833
8,764
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
2.50
3,797
26,550
349
(6,202)
24,494
3,797
26,550
349
(6,202)
24,494