To Live Property Ltd 11101570 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true 11101570 2021-01-01 2021-12-31 11101570 2021-12-31 11101570 bus:OrdinaryShareClass1 bus:CumulativeShares 2021-12-31 11101570 core:RetainedEarningsAccumulatedLosses 2021-12-31 11101570 core:ShareCapital 2021-12-31 11101570 core:CurrentFinancialInstruments 2021-12-31 11101570 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 11101570 core:Non-currentFinancialInstruments 2021-12-31 11101570 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 11101570 core:MoreThanFiveYears 2 2021-12-31 11101570 core:FurnitureFittingsToolsEquipment 2021-12-31 11101570 bus:SmallEntities 2021-01-01 2021-12-31 11101570 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 11101570 bus:FullAccounts 2021-01-01 2021-12-31 11101570 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 11101570 bus:RegisteredOffice 2021-01-01 2021-12-31 11101570 bus:Director1 2021-01-01 2021-12-31 11101570 bus:Director2 2021-01-01 2021-12-31 11101570 bus:OrdinaryShareClass1 bus:CumulativeShares 2021-01-01 2021-12-31 11101570 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 11101570 core:FurnitureFittings 2021-01-01 2021-12-31 11101570 core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 11101570 countries:AllCountries 2021-01-01 2021-12-31 11101570 2020-12-31 11101570 core:FurnitureFittingsToolsEquipment 2020-12-31 11101570 2020-01-01 2020-12-31 11101570 2020-12-31 11101570 bus:OrdinaryShareClass1 bus:CumulativeShares 2020-12-31 11101570 core:RetainedEarningsAccumulatedLosses 2020-12-31 11101570 core:ShareCapital 2020-12-31 11101570 core:CurrentFinancialInstruments 2020-12-31 11101570 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 11101570 core:Non-currentFinancialInstruments 2020-12-31 11101570 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 11101570 core:MoreThanFiveYears 2 2020-12-31 11101570 core:FurnitureFittingsToolsEquipment 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11101570

To Live Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

To Live Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

To Live Property Ltd

Company Information

Directors

Mr C G McMurray

Dr V L Hards

Registered office

14 Bracey Rise
West Bridgford
Nottingham
NG2 7AX

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

To Live Property Ltd

(Registration number: 11101570)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

2,122

2,388

Investment property

5

266,734

256,734

 

268,856

259,122

Current assets

 

Debtors

6

1,802

2,118

Cash at bank and in hand

 

9,939

7,426

 

11,741

9,544

Creditors: Amounts falling due within one year

7

(169,270)

(172,814)

Net current liabilities

 

(157,529)

(163,270)

Total assets less current liabilities

 

111,327

95,852

Creditors: Amounts falling due after more than one year

7

(91,254)

(91,254)

Provisions for liabilities

(7,255)

(5,355)

Net assets/(liabilities)

 

12,818

(757)

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

12,816

(759)

Shareholders' funds/(deficit)

 

12,818

(757)

 

To Live Property Ltd

(Registration number: 11101570)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 September 2022 and signed on its behalf by:
 

.........................................
Mr C G McMurray
Director

 

To Live Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
14 Bracey Rise
West Bridgford
Nottingham
NG2 7AX

These financial statements were authorised for issue by the Board on 5 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

To Live Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

 

To Live Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

To Live Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

4,605

4,605

Additions

610

610

Disposals

(300)

(300)

At 31 December 2021

4,915

4,915

Depreciation

At 1 January 2021

2,217

2,217

Charge for the year

749

749

Eliminated on disposal

(173)

(173)

At 31 December 2021

2,793

2,793

Carrying amount

At 31 December 2021

2,122

2,122

At 31 December 2020

2,388

2,388

5

Investment properties

2021
£

At 1 January

256,734

Fair value adjustments

10,000

At 31 December

266,734

The investment properties have been valued on the open market basis by the directors at the year end.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2021
£

2020
£

Prepayments

1,399

2,038

Other debtors

403

80

1,802

2,118

 

To Live Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

167,675

166,793

Other creditors

 

1,595

6,021

 

169,270

172,814

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

91,254

91,254

2021
£

2020
£

Due after more than five years

After more than five years not by instalments

91,254

91,254

-

-

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

91,254

91,254

Secured Liabilities

The bank borrowings of £91,254 is secured by a charge over the company's investement property to which this relates.

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2