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Company Registration No. SC730439 (Scotland)
Liveoak Technology Ltd Unaudited accounts for the year ended 30 April 2024
Liveoak Technology Ltd Unaudited accounts Contents
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Liveoak Technology Ltd Company Information for the year ended 30 April 2024
Director
Muhammad Bilal Shafqat
Company Number
SC730439 (Scotland)
Registered Office
15 Hoylake Place Dundee DD2 3WR
Accountants
Ecommerce Buddy www.ecommercebuddy.co.uk RM6 6AX
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Liveoak Technology Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
12,550 
4,868 
Debtors
2,943 
922 
Cash at bank and in hand
1 
2,751 
15,494 
8,541 
Creditors: amounts falling due within one year
(16,599)
(11,015)
Net current liabilities
(1,105)
(2,474)
Net liabilities
(1,105)
(2,474)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(1,106)
(2,475)
Shareholders' funds
(1,105)
(2,474)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2024 and were signed on its behalf by
Muhammad Bilal Shafqat Director Company Registration No. SC730439
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Liveoak Technology Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Liveoak Technology Ltd is a private company, limited by shares, registered in Scotland, registration number SC730439. The registered office is 15 Hoylake Place, Dundee, DD2 3WR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,943 
922 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
16,599 
11,015 
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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