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COMPANY REGISTRATION NUMBER: SC119718
Live-Link Communications Limited
Unaudited Financial Statements
For the year ended
31 May 2023
Live-Link Communications Limited
Financial Statements
Year ended 31 May 2023
Contents
Page
Directors' report
1
Statement of financial position
2
Notes to the financial statements
3
Live-Link Communications Limited
Directors' Report
Year ended 31 May 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2023 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
L.A. Cullen
T.D. Cullen
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 February 2024 and signed on behalf of the board by:
L.A. Cullen
Director
Registered office:
6a Milrig Cottage
Kirknewton
West Lothian
EH27 8DD
Live-Link Communications Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Creditors: amounts falling due within one year
5
301
301
----
----
Net current liabilities
301
301
----
----
Total assets less current liabilities
( 301)
( 301)
Creditors: amounts falling due after more than one year
6
6,250
6,250
-------
-------
Net liabilities
( 6,551)
( 6,551)
-------
-------
Capital and reserves
Called up share capital
25,000
25,000
Share premium account
18,750
18,750
Profit and loss account
( 50,301)
( 50,301)
--------
--------
Shareholders deficit
( 6,551)
( 6,551)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
L.A. Cullen
Director
Company registration number: SC119718
Live-Link Communications Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 6a Milrig Cottage, Kirknewton, West Lothian, EH27 8DD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders deficit during the current year or prior year.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Intangible assets
Development costs
£
Cost
At 1 June 2022 and 31 May 2023
74,420
--------
Amortisation
At 1 June 2022 and 31 May 2023
74,420
--------
Carrying amount
At 31 May 2023
--------
At 31 May 2022
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
301
301
----
----
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
6,250
6,250
-------
-------
7. Related party transactions
No transactions were entered into during the year that are required to be disclosed under the terms of FRS 102 Section 1A.