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REGISTERED NUMBER: 10988930 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

CLP LIVE LIMITED

CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 91,787 31,451

CURRENT ASSETS
Debtors 6 95,393 197,017
Cash at bank 27,504 7,577
122,897 204,594
CREDITORS
Amounts falling due within one year 7 75,409 142,650
NET CURRENT ASSETS 47,488 61,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,275

93,395

CREDITORS
Amounts falling due after more than
one year

8

(53,408

)

(20,058

)

PROVISIONS FOR LIABILITIES 9 (9,084 ) (8,335 )
NET ASSETS 76,783 65,002

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 76,781 65,000
SHAREHOLDERS' FUNDS 76,783 65,002

CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

BALANCE SHEET - continued
31 DECEMBER 2023


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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr C P Philpott - Director


CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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


1. STATUTORY INFORMATION

CLP Live Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10988930

Registered office: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant, machinery and festival
equipment

-

20% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.


CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant,
machinery
and
festival Office Motor Computer
equipment equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 26,975 2,683 - 29,499 59,157
Additions 14,599 6,087 58,990 14,363 94,039
Disposals (5,000 ) - - - (5,000 )
At 31 December 2023 36,574 8,770 58,990 43,862 148,196
DEPRECIATION
At 1 January 2023 8,543 900 - 18,263 27,706
Charge for year 5,966 1,180 14,748 8,609 30,503
Eliminated on disposal (1,800 ) - - - (1,800 )
At 31 December 2023 12,709 2,080 14,748 26,872 56,409
NET BOOK VALUE
At 31 December 2023 23,865 6,690 44,242 16,990 91,787
At 31 December 2022 18,432 1,783 - 11,236 31,451

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 58,990
At 31 December 2023 58,990
DEPRECIATION
Charge for year 14,748
At 31 December 2023 14,748
NET BOOK VALUE
At 31 December 2023 44,242

CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,778 139,703
Directors' current account 63,721 57,314
S455 tax recoverable 3,894 -
95,393 197,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,300 8,300
Hire purchase contracts 5,094 -
Trade creditors 3,587 39,872
Corporation tax 25,514 28,551
PAYE and social security 3,378 2,166
VAT 22,423 35,854
Other creditors 1,032 312
Credit card account 3,890 2,293
Accruals and deferred income 2,191 25,302
75,409 142,650

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,300 8,300
Bank loans - 2-5 years 3,458 11,758
Hire purchase contracts 41,650 -
53,408 20,058

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 9,084 8,335

CLP LIVE LIMITED (REGISTERED NUMBER: 10988930)

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


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 8,335
Provided during year 749
Balance at 31 December 2023 9,084

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C P Philpott and Mrs M A Philpott
Balance outstanding at start of year 57,314 27,083
Amounts advanced 52,181 57,314
Amounts repaid (45,774 ) (27,083 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,721 57,314

Advances to the directors are repayable on demand and interest was charged in the year at 2.0% per annum up to 5 April 2023 and at 2.25% per annum thereafter, on balances exceeding £10,000 per director. The interest charged for the year amounted to £1,601 (2022: £1,385).