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REGISTERED NUMBER: 13771164 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

22LIVE LTD

22LIVE LTD (REGISTERED NUMBER: 13771164)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


22LIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P S Timmins
I T Bidmead FCA
S Gladstone
S Phillips
A J Penn
S J Beard





REGISTERED OFFICE: Unit 9 Colemeadow Road
Moons Moat North Industrial Estate
Redditch
Worcestershire
B98 9PB





REGISTERED NUMBER: 13771164 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

22LIVE LTD (REGISTERED NUMBER: 13771164)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,068 7,581
Tangible assets 5 3,872,430 1,940,823
3,882,498 1,948,404

CURRENT ASSETS
Stocks 26,590 -
Debtors 6 172,504 190,775
Cash at bank and in hand 215,879 19,514
414,973 210,289
CREDITORS
Amounts falling due within one year 7 1,064,526 838,057
NET CURRENT LIABILITIES (649,553 ) (627,768 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,232,945

1,320,636

CREDITORS
Amounts falling due after more than one
year

8

(1,896,998

)

(351,242

)

PROVISIONS FOR LIABILITIES (19,600 ) (18,877 )
NET ASSETS 1,316,347 950,517

CAPITAL AND RESERVES
Called up share capital 10,017 10,017
Share premium 860,022 860,022
Retained earnings 446,308 80,478
1,316,347 950,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

22LIVE LTD (REGISTERED NUMBER: 13771164)

BALANCE SHEET - continued
31 DECEMBER 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 9 September 2024 and were signed on its behalf by:





S J Beard - Director


22LIVE LTD (REGISTERED NUMBER: 13771164)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

22LIVE LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Branding is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Audio Equipment - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


22LIVE LTD (REGISTERED NUMBER: 13771164)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 7,581
Additions 3,606
At 31 December 2023 11,187
AMORTISATION
Charge for year 1,119
At 31 December 2023 1,119
NET BOOK VALUE
At 31 December 2023 10,068
At 31 December 2022 7,581

22LIVE LTD (REGISTERED NUMBER: 13771164)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Audio
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1 January 2023 6,432 24,250 1,980,757 2,011,439
Additions 59,141 - 2,177,457 2,236,598
Disposals - - (10,805 ) (10,805 )
At 31 December 2023 65,573 24,250 4,147,409 4,237,232
DEPRECIATION
At 1 January 2023 840 4,850 64,926 70,616
Charge for year 9,875 4,850 279,521 294,246
Eliminated on disposal - - (60 ) (60 )
At 31 December 2023 10,715 9,700 344,387 364,802
NET BOOK VALUE
At 31 December 2023 54,858 14,550 3,803,022 3,872,430
At 31 December 2022 5,592 19,400 1,915,831 1,940,823

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,185 119,661
Other debtors 91,319 71,114
172,504 190,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 20,938 -
Trade creditors 468,387 787,439
Taxation and social security 3,339 563
Other creditors 571,862 50,055
1,064,526 838,057

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 54,310 -
Other creditors 1,842,688 351,242
1,896,998 351,242