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Registered Number: 13155520
England and Wales

 

 

 

LIBERTY LIFESTYLES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Kirsty King
Registered Number 13155520
Registered Office 20 Briar Lea Road
Mortimer Common
Reading
Berkshire
RG7 3SA
1
Director's report and financial statements
The directors present her annual report and the financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company in the year under review was that of lifestyle support services.
Directors
The directors who served the company throughout the year were as follows:
Kirsty King



This report was approved by the board and signed on its behalf by:


----------------------------------
Kirsty King
Director

Date approved: 09 April 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 13,938    16,247 
13,938    16,247 
Current assets      
Debtors 4 3,875    4,025 
Cash at bank and in hand 441    3,429 
4,316    7,454 
Creditors: amount falling due within one year 5 (21,694)   (22,765)
Net current assets (17,378)   (15,311)
 
Total assets less current liabilities (3,440)   936 
Creditors: amount falling due after more than one year 6 (9,958)   (13,357)
Provisions for liabilities 7 2,644    2,474 
Net assets (10,754)   (9,947)
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account (10,756)   (9,949)
Shareholders' funds (10,754)   (9,947)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 09 April 2024 and were signed on its behalf by:


-------------------------------
Kirsty King
Director
3
General Information
Liberty Lifestyles Limited is a private company, limited by shares, registered in England and Wales, registration number 13155520, registration address 20 Briar Lea Road, Mortimer Common, Reading, Berkshire, RG7 3SA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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.
Fundamental uncertainties
The company meets its day to day working capital requirements partially through the support of its creditors. The directors have considered the projected cash flow information for the company during the foreseeable post year-end period. On the basis of this cash flow information and discussions with the company's creditor, the directors consider that the company will continue to operate within the available finance facilities. However the margin of finance facilities over requirements is not large and, inherently there can be no certainty in relation to this matter. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the company's creditors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on reducing balance 
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Employees


Average number of employees during the year was 7 (2023 : 11).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 February 2023 16,995    3,913    20,908 
Additions   605    605 
Disposals    
At 31 January 2024 16,995    4,518    21,513 
Depreciation
At 01 February 2023 2,549    2,112    4,661 
Charge for year 2,167    747    2,914 
On disposals    
At 31 January 2024 4,716    2,859    7,575 
Net book values
Closing balance as at 31 January 2024 12,279    1,659    13,938 
Opening balance as at 01 February 2023 14,446    1,801    16,247 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 460    781 
Other Debtors 3,415    3,244 
3,875    4,025 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 315    2,634 
Social Security and Other Tax 4,811    2,117 
Accruals and Deferred Income 201    202 
Other Creditors 6,519    8,150 
Hire Purchase - less than 1 year 3,399    2,767 
Directors' Current Accounts 6,449    6,895 
21,694    22,765 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Hire Purchase - 1-2 years 4,031    3,399 
Hire Purchase - 2-5 years 5,927    9,958 
9,958    13,357 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax (2,644)   (2,474)
(2,644)   (2,474)

4