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REGISTERED NUMBER: 00283192 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

B. LIVESEY LIMITED

B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


B. LIVESEY LIMITED

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Mr C J E Livesey
Mr M A Livesey





REGISTERED OFFICE: Royal Oak Building
Albion Mews
31 Bolton Street
Chorley
Lancashire
PR7 3AA





REGISTERED NUMBER: 00283192 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)

Abridged Balance Sheet
29th February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 249,876 327,643
Investments 5 1,000 1,000
250,876 328,643

CURRENT ASSETS
Stocks 16,384 15,604
Debtors 1,621,657 1,732,779
Cash at bank and in hand 731,326 531,851
2,369,367 2,280,234
CREDITORS
Amounts falling due within one year 695,651 651,086
NET CURRENT ASSETS 1,673,716 1,629,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,924,592

1,957,791

PROVISIONS FOR LIABILITIES - 8,592
NET ASSETS 1,924,592 1,949,199

CAPITAL AND RESERVES
Called up share capital 12,100 12,100
Retained earnings 1,912,492 1,937,099
SHAREHOLDERS' FUNDS 1,924,592 1,949,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)

Abridged Balance Sheet - continued
29th February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29th February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 17th September 2024 and were signed on its behalf by:




Mr C J E Livesey - Director



Mr M A Livesey - Director


B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

B. Livesey Limited 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.

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.

Revenue recognition
The company is not registered for VAT as funeral services are exempt from VAT. Turnover represents the value of goods and services provided to customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of Assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

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.

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.

Investment in subsidiaries
Investments held as fixed assets are stated at cost less provision for any impairment in value.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st March 2023 1,317,621
Additions 2,170
At 29th February 2024 1,319,791
DEPRECIATION
At 1st March 2023 989,978
Charge for year 79,937
At 29th February 2024 1,069,915
NET BOOK VALUE
At 29th February 2024 249,876
At 28th February 2023 327,643

B. LIVESEY LIMITED (REGISTERED NUMBER: 00283192)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st March 2023
and 29th February 2024 1,000
NET BOOK VALUE
At 29th February 2024 1,000
At 28th February 2023 1,000

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 129,500 125,000
Between one and five years 261,500 290,000
In more than five years 69,333 149,333
460,333 564,333

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29th February 2024 and 28th February 2023:

29.2.24 28.2.23
£    £   
Mr C J E Livesey
Balance outstanding at start of year 84,620 84,913
Amounts advanced - (293 )
Amounts repaid (84,620 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 84,620

Mr M A Livesey
Balance outstanding at start of year 7,599 137
Amounts advanced - 7,462
Amounts repaid (7,599 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,599

8. ULTIMATE CONTROLLING PARTY

Throughout the current year, and previous year, Mr CJE Livesey and Mr MA Livesey have controlled the company by each holding 50% of the issued ordinary share capital.