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REGISTERED NUMBER: 09479390 (England and Wales)










Financial Statements

for the Year Ended 31 March 2023

for

Live & Let Buy Ltd

Live & Let Buy Ltd (Registered number: 09479390)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Live & Let Buy Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G Garofalo
L Cooper





REGISTERED OFFICE: 19 Prout Grove
Neasden
London
NW10 1PU





REGISTERED NUMBER: 09479390 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Live & Let Buy Ltd (Registered number: 09479390)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 333 444
Investment property 4 279,568 279,568
279,901 280,012

CURRENT ASSETS
Cash at bank 3,117 13,779

CREDITORS
Amounts falling due within one year 5 (71,754 ) (67,576 )
NET CURRENT LIABILITIES (68,637 ) (53,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,264

226,215

CREDITORS
Amounts falling due after more than one year 6 (264,549 ) (264,549 )
NET LIABILITIES (53,285 ) (38,334 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (53,295 ) (38,344 )
(53,285 ) (38,334 )

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 directors acknowledge their 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.

Live & Let Buy Ltd (Registered number: 09479390)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





G Garofalo - Director


Live & Let Buy Ltd (Registered number: 09479390)

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

1. 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.

The accounts have been prepared on the going concern basis due to the loan facility provided by Shawbrook Bank Limited.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Investment Property - No depreciation
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

GOING CONCERN NOTE
The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s directors and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Live & Let Buy Ltd (Registered number: 09479390)

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 2,493 1,292 3,785
DEPRECIATION
At 1 April 2022 2,050 1,291 3,341
Charge for year 111 - 111
At 31 March 2023 2,161 1,291 3,452
NET BOOK VALUE
At 31 March 2023 332 1 333
At 31 March 2022 443 1 444

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 279,568
NET BOOK VALUE
At 31 March 2023 279,568
At 31 March 2022 279,568

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 924 18
Other creditors 1,664 -
Directors' current accounts 68,188 65,908
Accrued expenses 978 1,650
71,754 67,576

Live & Let Buy Ltd (Registered number: 09479390)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 264,549 264,549

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 264,549 264,549

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 264,549 264,549

The loans are secured with a floating charge on the properties within the company