T Livingstone Ltd 09736414 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is electrical contractor. Digita Accounts Production Advanced 6.30.9574.0 true 09736414 2022-04-01 2023-03-31 09736414 2023-03-31 09736414 core:RetainedEarningsAccumulatedLosses 2023-03-31 09736414 core:ShareCapital 2023-03-31 09736414 core:CurrentFinancialInstruments 2023-03-31 09736414 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09736414 core:Non-currentFinancialInstruments 2023-03-31 09736414 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09736414 core:MotorVehicles 2023-03-31 09736414 core:OtherPropertyPlantEquipment 2023-03-31 09736414 bus:SmallEntities 2022-04-01 2023-03-31 09736414 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09736414 bus:FullAccounts 2022-04-01 2023-03-31 09736414 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09736414 bus:RegisteredOffice 2022-04-01 2023-03-31 09736414 bus:Director1 2022-04-01 2023-03-31 09736414 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09736414 core:MotorVehicles 2022-04-01 2023-03-31 09736414 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 09736414 core:PlantMachinery 2022-04-01 2023-03-31 09736414 countries:EnglandWales 2022-04-01 2023-03-31 09736414 2022-03-31 09736414 core:MotorVehicles 2022-03-31 09736414 core:OtherPropertyPlantEquipment 2022-03-31 09736414 2021-04-01 2022-03-31 09736414 2022-03-31 09736414 core:RetainedEarningsAccumulatedLosses 2022-03-31 09736414 core:ShareCapital 2022-03-31 09736414 core:CurrentFinancialInstruments 2022-03-31 09736414 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09736414 core:Non-currentFinancialInstruments 2022-03-31 09736414 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 09736414 core:MotorVehicles 2022-03-31 09736414 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 09736414

T Livingstone Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

T Livingstone Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

T Livingstone Ltd

(Registration number: 09736414)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,041

1,784

Current assets

 

Debtors

5

10,877

10,570

Cash at bank and in hand

 

12,599

15,488

 

23,476

26,058

Creditors: Amounts falling due within one year

6

(3,621)

(6,902)

Net current assets

 

19,855

19,156

Total assets less current liabilities

 

42,896

20,940

Creditors: Amounts falling due after more than one year

6

(16,002)

-

Provisions for liabilities

(4,386)

(338)

Net assets

 

22,508

20,602

Capital and reserves

 

Called up share capital

2

2

Retained earnings

22,506

20,600

Shareholders' funds

 

22,508

20,602

 

T Livingstone Ltd

(Registration number: 09736414)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 3 August 2023
 

.........................................
TA Livingstone
Director

 

T Livingstone Ltd

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

1

General information

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

The address of its registered office is:
100 Lydgate
Burnley
Lancashire
BB10 2DU
England

These financial statements were authorised for issue by the director on 3 August 2023.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) 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.

 

T Livingstone Ltd

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

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

T Livingstone Ltd

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

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 and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

T Livingstone Ltd

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

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

3,800

1,020

4,820

Additions

28,788

150

28,938

Disposals

(3,800)

-

(3,800)

At 31 March 2023

28,788

1,170

29,958

Depreciation

At 1 April 2022

2,197

839

3,036

Charge for the year

5,998

80

6,078

Eliminated on disposal

(2,197)

-

(2,197)

At 31 March 2023

5,998

919

6,917

Carrying amount

At 31 March 2023

22,790

251

23,041

At 31 March 2022

1,603

181

1,784

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,056

2,464

Other debtors

9,821

8,106

 

10,877

10,570

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

999

-

Taxation and social security

 

622

5,916

Accruals and deferred income

 

990

900

Other creditors

 

1,010

86

 

3,621

6,902

 

T Livingstone Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

16,002

-

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

HP and finance lease liability 1 (1-2 yrs)

3,998

-

HP and finance lease liability 1 (2-5 yrs)

12,004

-

16,002

-

2023
£

2022
£

Current loans and borrowings

HP and finance lease liability 1 (under 1yr)

999

-