Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07797481 Mr Benjamin Reason Mrs Kiara Coen Mr Robin Mackie iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07797481 2022-12-31 07797481 2023-12-31 07797481 2023-01-01 2023-12-31 07797481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07797481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07797481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07797481 frs-core:CapitalRedemptionReserve 2023-12-31 07797481 frs-core:OtherReservesSubtotal 2023-12-31 07797481 frs-core:SharePremium 2023-12-31 07797481 frs-core:ShareCapital 2023-12-31 07797481 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07797481 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07797481 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07797481 frs-bus:SmallEntities 2023-01-01 2023-12-31 07797481 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07797481 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07797481 frs-core:CostValuation 2022-12-31 07797481 frs-core:CostValuation 2023-12-31 07797481 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 07797481 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 07797481 frs-bus:Director1 2023-01-01 2023-12-31 07797481 frs-bus:Director2 2023-01-01 2023-12-31 07797481 frs-bus:Director3 2023-01-01 2023-12-31 07797481 1 2023-01-01 2023-12-31 07797481 frs-countries:EnglandWales 2023-01-01 2023-12-31 07797481 2021-12-31 07797481 2022-12-31 07797481 2022-01-01 2022-12-31 07797481 frs-core:CurrentFinancialInstruments 2022-12-31 07797481 frs-core:CapitalRedemptionReserve 2022-12-31 07797481 frs-core:OtherReservesSubtotal 2022-12-31 07797481 frs-core:SharePremium 2022-12-31 07797481 frs-core:ShareCapital 2022-12-31 07797481 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07797481 1 2022-01-01 2022-12-31
Registered number: 07797481
Livework Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07797481
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 1,803 2,254
Investments 4 267,180 267,180
268,983 269,434
CURRENT ASSETS
Debtors 5 194,888 150,163
Cash at bank and in hand 122,454 234,225
317,342 384,388
Creditors: Amounts Falling Due Within One Year 6 (1,000 ) (17,293 )
NET CURRENT ASSETS (LIABILITIES) 316,342 367,095
TOTAL ASSETS LESS CURRENT LIABILITIES 585,325 636,529
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,361 ) (1,361 )
NET ASSETS 583,964 635,168
CAPITAL AND RESERVES
Called up share capital 400 430
Share premium account 85,387 85,387
Capital redemption reserve 30 -
Share based payment reserve 154,960 178,974
Profit and Loss Account 343,187 370,377
SHAREHOLDERS' FUNDS 583,964 635,168
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For the year ending 31 December 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Benjamin Reason
Director
9 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.
1.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives of 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
1.4. Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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1.5. Taxation - continued
Deferred tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax is only adjusted if the change in the timing difference is material.
2. Average Number of Employees
2023 2022
Average number of employees, including directors, during the year 3 3
3 3
3. Intangible Assets
Website development
£
Cost
As at 1 January 2023 2,254
As at 31 December 2023 2,254
Amortisation
As at 1 January 2023 -
Provided during the period 451
As at 31 December 2023 451
Net Book Value
As at 31 December 2023 1,803
As at 1 January 2023 2,254
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4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 267,180
As at 31 December 2023 267,180
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 267,180
As at 1 January 2023 267,180
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 80,103
Amounts owed by group undertakings 193,881 63,683
Other debtors 1,007 6,377
194,888 150,163
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 5,785
Amounts owed to group undertakings - 3,108
Other creditors 1,000 8,400
1,000 17,293
7. Related Party Transactions
The amount due from group undertaking at the year end was £193,881 (2022 : £63,683)
The amount due to group undertaking at the year end was £Nil (2022 : £3,108)
8. General Information
Livework Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 07797481 . The registered office is 86-90 Paul Street, London, EC2A 4NE.
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