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REGISTERED NUMBER: SC271054 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Live Language Limited

Live Language Limited (Registered number: SC271054)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Live Language Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms A Mitchell





SECRETARY: Ms J Mitchell





REGISTERED OFFICE: 10 Somerset Place
Glasgow
G3 7JT





REGISTERED NUMBER: SC271054 (Scotland)





ACCOUNTANTS: Key Professional Partnership Ltd
Unit 3 Morris Park
Rosyth Road
Glasgow
G5 0YE

Live Language Limited (Registered number: SC271054)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Debtors 5 92,128 114,208
Cash at bank 112,680 68,832
204,808 183,040
CREDITORS
Amounts falling due within one year 6 38,513 62,422
NET CURRENT ASSETS 166,295 120,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,295

120,618

CREDITORS
Amounts falling due after more than one
year

7

53,333

73,333
NET ASSETS 112,962 47,285

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 111,962 46,285
112,962 47,285

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

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

The director acknowledges her 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 director and authorised for issue on 1 June 2023 and were signed by:



Ms A Mitchell - Director


Live Language Limited (Registered number: SC271054)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Live Language Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and similar allowances.

Revenue from sale of goods is recognised when all the following conditions are satisfied:
-the company has transferred to the buyer the significant risks and rewards of ownership of the goods:
-the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
-the amount of revenue can be measured reliably;
-it is probable that the economic benefits associated with the transaction will flow to the company;
and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and the legal title is passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Live Language Limited (Registered number: SC271054)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Defined contribution pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 107,781
DEPRECIATION
At 1 April 2022
and 31 March 2023 107,781
NET BOOK VALUE
At 31 March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 41,079 55,028
Other debtors 51,049 59,180
92,128 114,208

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 10,947 25,703
Taxation and social security 1,700 2,022
Other creditors 5,866 14,697
38,513 62,422

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 53,333 73,333