ALWAYS LIVE LTD


Directors	ROBINS, Lily Li-Hua
	ROSS-SCOTT, Amberlie Clare


Registered Address	3a Station Road
	Westcliff-On-Sea
	SS0 7RA


Registered Number	11983614 (England and Wales)

Balance Sheet as at
31 May 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	5		3,028		1,578
			3,028		1,578
Current assets
Debtors	6	24,850		7,452
Cash at bank and on hand		76,019		60,663
		100,869		68,115
Creditors amounts falling due within one year	7	(36,185)		(49,952)
Net current assets (liabilities)			64,684		18,163
Total assets less current liabilities			67,712		19,741
Provisions for liabilities	9		(363)		(905)
Net assets			67,349		18,836
Capital and reserves
Called up share capital			100		100
Profit and loss account			67,249		18,736
Shareholders' funds			67,349		18,836

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 6 September 2023, and are signed on its behalf by:

ROBINS, Lily Li-Hua
Director
Registered Company No. 11983614

ALWAYS LIVE LTD

Notes to the Financial Statements
for the year ended 31 May 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Computer Equipment 20% Straight Line

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

4.	Employee information


		2023		2022
	Average number of employees during the year	2		2

5.	Property, plant and equipment

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 June 22	2,813	2,813
Additions	2,516	2,516
At 31 May 23	5,329	5,329
Depreciation and impairment
At 01 June 22	1,235	1,235
Charge for year	1,066	1,066
At 31 May 23	2,301	2,301
Net book value
At 31 May 23	3,028	3,028
At 31 May 22	1,578	1,578

6.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	17,350	7,236
Prepayments and accrued income	500	216
Other debtors (Non-current)	7,000	-
Total	24,850	7,452


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	4,255	2,266
Taxation and social security	21,840	38,987
Other creditors	9,591	8,199
Accrued liabilities and deferred income	499	500
Total	36,185	49,952


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors after one year

9.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	363	905
Total	363	905