REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 |
FOR |
LIVBETH INVESTCO LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 |
FOR |
LIVBETH INVESTCO LIMITED |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
BALANCE SHEET |
5 APRIL 2023 |
5.4.23 | 5.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
BALANCE SHEET - continued |
5 APRIL 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
1. | STATUTORY INFORMATION |
Livbeth Investco Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared on a going concern basis. At the year end the company had net current liabilities of £727,777 (2022: £9,425,032) which might indicate that the company is not a going concern. However, included in current liabilities is an amount owed to the director of £8,270,775 (2022: £9,399,600) which, although is technically repayable on demand, will not be called in within the next twelve months. Taking this into account and the profitable nature of the rental income within the company, the director is confident that the company will continue to be able to meet its financial obligations for a period of at least twelve months from the date these financial statements were approved. |
Turnover |
Turnover represents rental income receivable from investment properties and dividend income receivable from investments. |
Tangible fixed assets |
Fixtures and fittings | - |
All fixed assets are initially recorded at cost. |
Investment property |
Investment property is accounted for at fair value with gains and losses recognised in the profit and loss account. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Fixed asset investments |
Fixed asset investments are restated to fair value at the year end using quoted prices at that date. Any changes in fair value are recognised in the profit and loss account for the year. Unquoted investments are shown at brokers estimated value. |
Investment income |
Interest and dividends, together with imputed tax credits (where applicable), are accounted for on an accruals basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 6 April 2022 |
Additions |
At 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
5. | FIXED ASSET INVESTMENTS |
5.4.23 | 5.4.22 |
£ | £ |
Other investments not loans |
Additional information is as follows: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 6 April 2022 | 10,417,157 |
Additions | 188,876 |
Disposals | ( |
) | (7,643,303 | ) |
Revaluations | ( |
) | ( |
) | (2,009,804 | ) |
At 5 April 2023 | 952,926 |
NET BOOK VALUE |
At 5 April 2023 | 952,926 |
At 5 April 2022 | 10,417,157 |
The historic cost of investments was £682,331 (2022: £8,136,759). |
Investments (neither listed nor unlisted) were as follows: |
5.4.23 | 5.4.22 |
£ | £ |
Cash | 111,895 | 45,990 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2022 |
Revaluations | 70,343 |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
The director is of the opinion that the market value of the investment properties at 5 April 2023 is as stated above. |
The historic cost of investment properties was £2,607,302 (2022: £2,607,302). |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Prepayments and accrued income |
LIVBETH INVESTCO LIMITED (REGISTERED NUMBER: 08717285) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Corporation tax |
Directors' current accounts | 8,270,775 | 9,399,600 |
Accruals and deferred income |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 6 April 2022 |
Reserve transfer | 30,284 |
At 5 April 2023 |
10. | RELATED PARTY DISCLOSURES |
During the year monies totalling £nil (2022: £5,376) were received from the director and £1,128,825 (2022: £nil) was repaid to the director. At the year end an amount of £8,270,775 (2022: £9,399,600) remained due to the director. |