Lifestyle BH Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 13760262 (England and Wales)

Lifestyle BH Limited

Unaudited Financial Statements

for the Period 23 November 2021 to 31 March 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Syal

Mrs J E Syal

REGISTERED OFFICE:

Unit 1 Westfield Close

Raweth Industrial Estate

Rayleigh

Essex

SS6 9RL

REGISTERED NUMBER:

13760262 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Investment property

4

532,058

CURRENT ASSETS

Debtors

5

1,975

Cash at bank

17,562

19,537

CREDITORS

Amounts falling due within one year

6

177,267

NET CURRENT LIABILITIES

(157,730

)

TOTAL ASSETS LESS CURRENT LIABILITIES

374,328

CREDITORS

Amounts falling due after more than one year

7

374,038

NET ASSETS

290

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

190

290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2023 and were signed on its behalf by:

S Syal - Director

1.	STATUTORY INFORMATION

Lifestyle BH Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Income recognition

Income represents the fair value of consideration received or receivable derived from rents charged to tenants.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Basic financial instruments are recognised at amortised cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Frequency of reporting

The company has extended its accounting period end from 31 December 2022 to 31 March 2023 to make it coterminous with that of its parent company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

532,058

At 31 March 2023

532,058

NET BOOK VALUE

At 31 March 2023

532,058

The investment property was valued by the directors on a fair value basis at the balance sheet date.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1,975

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

67

Amounts owed to group undertakings

169,900

Taxation and social security

45

Other creditors

7,255

177,267

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

374,038

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

374,038

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

374,038

The bank facilities are secured by means of fixed and floating charges over the assets of the company.

9.	ULTIMATE CONTROLLING PARTY

The parent undertaking is Lifestyle Group (UK) Ltd registered at Unit 2 Westfield Close, Rawreth Industrial Estate, Rayleigh, Essex, SS6 9RL.