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Registration number: 10629562

LIVR Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

LIVR Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

LIVR Limited

(Registration number: 10629562)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,214

17,172

Investments

6

411

-

Other financial assets

5

30

30

 

10,655

17,202

Current assets

 

Stocks

7

-

200

Debtors

9,938

79,860

Cash at bank and in hand

 

2,442

83,174

 

12,380

163,234

Creditors: Amounts falling due within one year

(64,080)

(32,285)

Net current (liabilities)/assets

 

(51,700)

130,949

Net (liabilities)/assets

 

(41,045)

148,151

Capital and reserves

 

Called up share capital

12

1,479

1,475

Share premium reserve

874,531

849,535

Retained earnings

(917,055)

(702,859)

Shareholders' (deficit)/funds

 

(41,045)

148,151

For the financial year ending 29 February 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

LIVR Limited

(Registration number: 10629562)
Balance Sheet as at 29 February 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Leo Kellgren-Parker
Director

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
127 Mortimer Road
London
NW10 5TN
United Kingdom

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors believe that the company is well placed to manage its financing and other business risks satisfactorily, and have a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months from the signing date of these financial statements. The directors have not identified any material uncertainties to the company's ability to continue as a going concern. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

straight line 25%

Fixtures & fittings

straight line 25%

Office equipment

straight line 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

6,884

6,041

24,771

37,696

Additions

113

-

3,490

3,603

Disposals

(3,883)

-

(62)

(3,945)

At 29 February 2024

3,114

6,041

28,199

37,354

Depreciation

At 1 March 2023

2,795

6,041

11,688

20,524

Charge for the year

142

-

6,671

6,813

Eliminated on disposal

(189)

-

(8)

(197)

At 29 February 2024

2,748

6,041

18,351

27,140

Carrying amount

At 29 February 2024

366

-

9,848

10,214

At 28 February 2023

4,089

-

13,083

17,172

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2023

30

30

At 29 February 2024

30

30

Impairment

Carrying amount

At 29 February 2024

30

30

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Investments

Subsidiaries

£

Cost or valuation

Additions

411

Provision

Carrying amount

At 29 February 2024

411

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

XCR Tech Ltd

127 Mortimer Road
London
NW10 5TN

United Kingdom

Ordinary

65%

0%

Subsidiary undertakings

XCR Tech Ltd

The principal activity of XCR Tech Ltd is business and domestic software development..

7

Stocks

2024
£

2023
£

Other inventories

-

200

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Debtors

2024
£

2023
£

Trade debtors

-

30,000

Prepayments

9,517

1,208

Other debtors

-

48,652

VAT Control account

421

-

9,938

79,860

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

682

1,305

Amounts owed to subsidiaries

10

41,811

-

Other related parties

 

17,546

17,546

PAYE and NIC

 

1,345

5,164

VAT

 

-

3,055

Accruals and deferred income

 

2,440

2,440

Other creditors

 

256

2,775

 

64,080

32,285

 

LIVR Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Related party transactions

Loans from related parties

2024

Subsidiary
£

Key management
£

Total
£

At start of period

-

17,546

17,546

Advanced

41,811

-

41,811

At end of period

41,811

17,546

59,357

2023

Key management
£

Total
£

At start of period

797

797

Advanced

16,749

16,749

At end of period

17,546

17,546

Terms of loans from related parties

Loans owed to key management relate to working capital advances provided by directors. The balance is non interest bearing and repayable on demand.
The loan owed to the subsidiary XCR Tech Ltd, is a short term loan. The balance is non interest bearing and repayable on demand.
 

11

Non adjusting events after the financial period

The company issued 4,930 £0.001 ordinary shares on 21 March 2024 at a subscription price of £10.14 per share.

12

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.001 each

1,478,925

1,478.93

1,475,228

1,475.23