1 31/12/2023 2023-12-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03889438 2023-01-01 2023-12-31 03889438 2023-12-31 03889438 2022-01-01 2022-12-31 03889438 2022-12-31 03889438 bus:Director3 2023-01-01 2023-12-31 03889438 core:WithinOneYear 2023-12-31 03889438 core:WithinOneYear 2022-12-31 03889438 core:ShareCapital 2023-12-31 03889438 core:ShareCapital 2022-12-31 03889438 core:RetainedEarningsAccumulatedLosses 2023-12-31 03889438 core:RetainedEarningsAccumulatedLosses 2022-12-31 03889438 bus:SmallEntities 2023-01-01 2023-12-31 03889438 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03889438 bus:FullAccounts 2023-01-01 2023-12-31 03889438 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03889438 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03889438 core:WithinOneYear 2023-01-01 2023-12-31
Company registration number: 03889438
Living in the City Limited
Unaudited filleted financial statements
31 December 2023
Living in the City Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Current assets
Stocks 2,040,000 2,040,000
Debtors:
Amounts falling due within one year 5 102,061 71,071
Cash at bank and in hand 118,188 454,098
_______ _______
2,260,249 2,565,169
Creditors: amounts falling due
within one year 6 ( 2,916,366) ( 3,308,680)
_______ _______
Net current liabilities ( 656,117) ( 743,511)
_______ _______
Total assets less current liabilities ( 656,117) ( 743,511)
_______ _______
Net liabilities ( 656,117) ( 743,511)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 656,217) ( 743,611)
_______ _______
Shareholders deficit ( 656,117) ( 743,511)
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
L Jones
Director
Company registration number: 03889438
Living in the City Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 18 Talbot Lane, Leicester, Leicestershire, LE1 4LR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangementconstitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
Debtors falling due within one year are as follows:
2023 2022
£ £
Trade debtors - 2,466
Amounts owed by group undertakings and undertakings in which the company has a participating interest 67,191 37,196
Other debtors 34,870 31,409
_______ _______
102,061 71,071
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 2,333 28,877
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,891,279 3,136,279
Corporation tax - 114,085
Other creditors 22,754 29,439
_______ _______
2,916,366 3,308,680
_______ _______
The bank loans are secured by legal charges against the company's assets.