Lifestyle Destinations Limited Filleted accounts for Companies House (small and micro)

LIFESTYLE DESTINATIONS LIMITED - Company Information

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STATEMENT OF CONSENT TO PREPARE FINANCIAL STATEMENTS

All of the members of Lifestyle Destinations Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 09105168

LIFESTYLE DESTINATIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 March 2021

LIFESTYLE DESTINATIONS LIMITED

REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIFESTYLE DESTINATIONS LIMITED

PERIOD FROM 1 JANUARY 2021 TO 31 MARCH 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lifestyle Destinations Limited for the period ended 31 March 2021, which comprise the abridged 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors

Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN

8 November 2021

LIFESTYLE DESTINATIONS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 March 2021

	31 Mar 21		31 Dec 20
Note	£	£	£	£

Fixed assets

Tangible assets	4		2,123,237		2,096,278

Current assets

Stocks	1,600	1,600
Debtors	182,525	171,833
Cash at bank and in hand	10,152	48,240
	------------	------------
	194,277	221,673

Creditors: amounts falling due within one year	6,997		9,084
	------------		------------
Net current assets		187,280		212,589
		--------------		--------------
Total assets less current liabilities		2,310,517		2,308,867

Creditors: amounts falling due after more than one year	2,303,847	2,303,197
	--------------	--------------
Net assets	6,670	5,670
	--------------	--------------

Capital and reserves

Called up share capital	200	200
Profit and loss account	6,470	5,470
	------------	------------
Shareholders funds	6,670	5,670
	------------	------------

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 Section 1A of 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 abridged statement of income and retained earnings has not been delivered.

For the period ending 31 March 2021 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 period 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 .

LIFESTYLE DESTINATIONS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 8 November 2021 , and are signed on behalf of the board by:

R W Wells

Director

Company registration number: 09105168

LIFESTYLE DESTINATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 JANUARY 2021 TO 31 MARCH 2021

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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.

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	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	20% straight line

The company opts not to charge depreciation in the year of acquisition, but to charge depreciation in the year of disposal.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible Assets

	£
Cost
At 1 January 2021	2,102,804
Additions	29,213
	--------------
At 31 March 2021	2,132,017
	--------------
Depreciation
At 1 January 2021	6,526
Charge for the period	2,254
	--------------
At 31 March 2021	8,780
	--------------
Carrying amount
At 31 March 2021	2,123,237
	--------------
At 31 December 2020	2,096,278
	--------------