Assets For Life Ltd - Accounts

Assets For Life Ltd - Accounts

ASSETS FOR LIFE LTD - Company Information

Print Friendly Version

2020-04-01 2021-03-31 false Capium Accounts Production 1.1 09935286 bus:AbridgedAccounts 2020-04-01 2021-03-31 09935286 bus:FRS102 2020-04-01 2021-03-31 09935286 bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 09935286 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 09935286 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 09935286 2020-04-01 2021-03-31 09935286 2021-03-31 09935286 bus:RegisteredOffice 2020-04-01 2021-03-31 09935286 core:WithinOneYear 2021-03-31 09935286 core:AfterOneYear 2021-03-31 09935286 bus:Director1 2020-04-01 2021-03-31 09935286 bus:Director1 2021-03-31 09935286 bus:Director1 2019-04-01 2020-03-31 09935286 bus:Director2 2020-04-01 2021-03-31 09935286 bus:Director2 2021-03-31 09935286 bus:Director2 2019-04-01 2020-03-31 09935286 bus:Director3 2020-04-01 2021-03-31 09935286 bus:Director3 2021-03-31 09935286 bus:Director3 2019-04-01 2020-03-31 09935286 2019-04-01 09935286 bus:CompanySecretary1 2020-04-01 2021-03-31 09935286 bus:LeadAgentIfApplicable 2020-04-01 2021-03-31 09935286 2019-04-01 2020-03-31 09935286 2020-03-31 09935286 core:WithinOneYear 2020-03-31 09935286 core:AfterOneYear 2020-03-31 09935286 bus:EntityAccountantsOrAuditors 2019-04-01 2020-03-31 09935286 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 09935286 bus:OrdinaryShareClass1 2021-03-31 09935286 bus:OrdinaryShareClass1 2019-04-01 2020-03-31 09935286 bus:OrdinaryShareClass1 2020-03-31 09935286 core:ComputerEquipment 2020-04-01 2021-03-31 09935286 core:ComputerEquipment 2021-03-31 09935286 core:ComputerEquipment 2020-03-31 09935286 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2021-03-31 09935286 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2020-03-31 09935286 core:CostValuation core:Non-currentFinancialInstruments 2021-03-31 09935286 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 09935286 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2021-03-31 09935286 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2021-03-31 09935286 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2021-03-31 09935286 core:Non-currentFinancialInstruments 2021-03-31 09935286 core:Non-currentFinancialInstruments 2020-03-31 09935286 core:ShareCapital 2021-03-31 09935286 core:ShareCapital 2020-03-31 09935286 core:RetainedEarningsAccumulatedLosses 2021-03-31 09935286 core:RetainedEarningsAccumulatedLosses 2020-03-31 09935286 dpl:Item1 2020-04-01 09935286 dpl:Item1 2021-03-31 09935286 dpl:Item1 2019-04-01 09935286 dpl:Item1 2020-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 09935286
England and Wales

 

 

 

ASSETS FOR LIFE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Assets For Life Ltd
Contents Page
For the year ended 31 March 2021
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2021. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
aa Chartered Accountants
31 March 2021



....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
22 December 2021
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 20,666    30,974 
20,666    30,974 
Current assets      
Debtors 1,051,336    943,039 
Cash at bank and in hand 338,769    152,535 
1,390,105    1,095,574 
Creditors: amount falling due within one year (587,807)   (487,929)
Net current assets 802,298    607,645 
 
Total assets less current liabilities 822,964    638,619 
Creditors: amount falling due after more than one year (40,000)   (30,499)
Accruals and deferred income (732,478)   (494,299)
Provisions for liabilities (3,927)   (5,885)
Net assets 46,559    107,936 
 

Capital and reserves 		     
Called up share capital 3    3 
Profit and loss account 46,556    107,933 
Shareholder's funds 46,559    107,936 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 December 2021 and were signed on its behalf by:


--------------------------------
Jesus Munoz Orozco
Director
2
General Information
Assets For Life Ltd is a private company, limited by shares, registered in England and Wales, registration number 09935286, registration address Suite 105 Waterhouse Business Centre, Cromar Way, Chelmsford, CM1 2QE.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 10% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2020 : 8).
3.

Financial Commitments, Guarantees and Contingencies

Future operating lease commitments are as follows:

Particulars   Current
£
Due in less 1 year 7,465 
Due in more than 1 year 27,993 

4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2020 35,989    35,989 
Additions 2,342    2,342 
Disposals -    - 
At 31 March 2021 38,331    38,331 
Depreciation
At 01 April 2020 5,015    5,015 
Charge for year 12,650    12,650 
On disposals -    - 
At 31 March 2021 17,665    17,665 
Net book values
Closing balance as at 31 March 2021 20,666    20,666 
Opening balance as at 01 April 2020 30,974    30,974 


5.

Share Capital

Allotted, called up and fully paid
2021
£		   2020
£
6 Class A shares of £0.50 each 3    0 
3    0 

6.

Related party notes

Particulars   2021
£		   2020
£
JM Property Ltd 32,885  115,659 
Jay Lettings 25,678  25,678 
JKL -  62,247 
PKAL 750  750 
MAFL 5,990  4,000 
SAFL 78,637  6,288 
LJBR 5,748  - 


All related party transactions relate to companies where the directors have a controlling interest and are included within long term debtors.  There is no interest charged on these loans.
3