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REGISTERED NUMBER: 07378285 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Barefoot Live Ltd

Barefoot Live Ltd (Registered number: 07378285)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Barefoot Live Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J P Difazio
C L Difazio





REGISTERED OFFICE: Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP





BUSINESS ADDRESS: Suite 1, The Old Brewery
Bradford On Avon
BA15 1NF





REGISTERED NUMBER: 07378285 (England and Wales)





ACCOUNTANTS: Venture
Chartered Accountants
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

Barefoot Live Ltd (Registered number: 07378285)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 65,322 80,823

CURRENT ASSETS
Debtors 5 1,256,391 1,350,433
Cash at bank 2,713,074 1,529,241
3,969,465 2,879,674
CREDITORS
Amounts falling due within one year 6 407,395 288,666
NET CURRENT ASSETS 3,562,070 2,591,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,627,392

2,671,831

PROVISIONS FOR LIABILITIES 2,227 3,006
NET ASSETS 3,625,165 2,668,825

CAPITAL AND RESERVES
Called up share capital 7 20 20
Retained earnings 3,625,145 2,668,805
SHAREHOLDERS' FUNDS 3,625,165 2,668,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:




J P Difazio - Director


Barefoot Live Ltd (Registered number: 07378285)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Barefoot Live Ltd 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and 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 statement of financial position date.


Barefoot Live Ltd (Registered number: 07378285)

Notes to the Financial Statements - continued
for the Year Ended 31 January 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 statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 7,052 268,273 275,325
Additions - 53,580 53,580
At 31 January 2024 7,052 321,853 328,905
DEPRECIATION
At 1 February 2023 7,052 187,450 194,502
Charge for year - 69,081 69,081
At 31 January 2024 7,052 256,531 263,583
NET BOOK VALUE
At 31 January 2024 - 65,322 65,322
At 31 January 2023 - 80,823 80,823

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 632,799 532,358
Other debtors 623,592 818,075
1,256,391 1,350,433

Barefoot Live Ltd (Registered number: 07378285)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 18,898 94,163
Taxation and social security 385,797 191,803
Other creditors 2,700 2,700
407,395 288,666

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
20 ordinary £1 20 20

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
J P Difazio and C L Difazio
Balance outstanding at start of year 759,971 176,759
Amounts advanced 765,041 583,212
Amounts repaid (1,058,170 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 466,842 759,971

Interest has been charged at the official rate of interest on overdrawn balances.

9. RELATED PARTY DISCLOSURES

On 1 February 2022 the shareholders, Mr and Mrs Difazio, exchanged their shareholding in Barefoot Live Limited for shares held in Barefoot Holdings Limited.