Company Registration No. 03844359 (England and Wales)
LIVE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
LIVE INVESTMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
LIVE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
376
919
Investment properties
4
625,000
625,000
625,376
625,919
Current assets
Debtors
5
359
Cash at bank and in hand
11,363
21,010
11,722
21,010
Creditors: amounts falling due within one year
6
(75,000)
(72,724)
Net current liabilities
(63,278)
(51,714)
Total assets less current liabilities
562,098
574,205
Creditors: amounts falling due after more than one year
7
(100,000)
(100,000)
Provisions for liabilities
8
(26,219)
(26,219)
Net assets
435,879
447,986
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
10
435,877
447,984
Total equity
435,879
447,986
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LIVE INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
H R D Livingstone
Director
Company Registration No. 03844359
The notes on pages 4 to 8 form part of these financial statements
LIVE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information
Live Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rent receivable, recognised on the accruals basis with the days matched to the period.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% straight line
Computers
33.33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
LIVE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LIVE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
8,994
2,733
11,727
Depreciation and impairment
At 1 February 2023
8,994
1,814
10,808
Depreciation charged in the year
543
543
At 31 January 2024
8,994
2,357
11,351
Carrying amount
At 31 January 2024
376
376
At 31 January 2023
919
919
LIVE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
4
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
625,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2024 by the director on an open market value basis.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
359
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
180
Other creditors
72,720
70,544
Accruals and deferred income
2,280
2,000
75,000
72,724
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
100,000
100,000
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
26,219
26,219
LIVE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
9
Called up share capital
2024
2023
£
£
Ordinary share capital
100 Ordinary A shares of 1p each
1
1
98 Ordinary B shares of 1p each
1
1
1 Ordinary C shares of 1p each
-
-
1 Ordinary D shares of 1p each
-
-
2
2
10
Profit and loss reserves
Included within profit and loss reserves are non-distributable reserves of £240,414 (2023: £240,414)