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REGISTERED NUMBER: 10556479 (England and Wales)















UDlive Limited

Unaudited Financial Statements for the Year Ended 29th February 2024






UDlive Limited (Registered number: 10556479)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


UDlive Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: T Bennett
P J Bennett
R Strogonovs
R A M Del Campo Gonzalez





REGISTERED OFFICE: The Barn
8 Will Hall Farm
Alton
Hampshire
GU34 1QL





REGISTERED NUMBER: 10556479 (England and Wales)





ACCOUNTANTS: Palmer Gray LLP
2 & 3 The Barns
Longham Farm Close
Ferndown
Dorset
BH22 9DE

UDlive Limited (Registered number: 10556479)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
ASSETS

FIXED ASSETS
Intangible assets 4 404,488 268,971
Tangible assets 5 33,970 29,094
Investments 6 - -
438,458 298,065

CURRENT ASSETS
Stocks 1,267,955 809,087
Debtors 7 634,294 1,036,351
Cash at bank and in hand 84,551 157,031
1,986,800 2,002,469
2,425,258 2,300,534

UDlive Limited (Registered number: 10556479)

Balance Sheet - continued
29th February 2024

2024 2023
Notes £    £    £    £   
CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 8 665 665
Share premium 795,757 795,757
Retained earnings (1,296,769 ) (793,634 )
SHAREHOLDERS' FUNDS (500,347 ) 2,788

CREDITORS
Amounts falling due within one year 9 577,152 422,666
Amounts falling due after more than
one year

10

1,664,881

1,357,391
2,242,033 1,780,057

ACCRUALS AND DEFERRED INCOME 683,572 517,689
2,425,258 2,300,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

UDlive Limited (Registered number: 10556479)

Balance Sheet - continued
29th February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:




T Bennett - Director



P J Bennett - Director


UDlive Limited (Registered number: 10556479)

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

1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of six years.

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 - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


UDlive Limited (Registered number: 10556479)

Notes to the Financial Statements - continued
for the Year Ended 29th February 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 balance sheet 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.

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 14 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st March 2023 268,971
Additions 180,329
At 29th February 2024 449,300
AMORTISATION
Charge for year 44,812
At 29th February 2024 44,812
NET BOOK VALUE
At 29th February 2024 404,488
At 28th February 2023 268,971

UDlive Limited (Registered number: 10556479)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2023 94,096
Additions 20,109
Disposals (1,560 )
At 29th February 2024 112,645
DEPRECIATION
At 1st March 2023 65,002
Charge for year 14,096
Eliminated on disposal (423 )
At 29th February 2024 78,675
NET BOOK VALUE
At 29th February 2024 33,970
At 28th February 2023 29,094

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2023 2
Disposals (2 )
At 29th February 2024 -
PROVISIONS
At 1st March 2023 2

Eliminated on disposal (2 )
At 29th February 2024 -
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 -

UDlive Limited (Registered number: 10556479)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 553,370 1,034,265
Other debtors 80,924 2,086
634,294 1,036,351

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
255,565 A Ordinary shares 0.1p 256 256
409,206 B Ordinary shares 0.1p 409 409
2 Y and Z Ordinary shares 0.1p - -
665 665

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 422,287 260,383
Taxation and social security 41,873 162,283
Other creditors 112,992 -
577,152 422,666

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,664,881 1,357,391

Other creditors include £1,664,881 (2023 - £1,357,391) relating to long-term unsecured loans from investors and related entities.

11. POST BALANCE SHEET EVENTS

The company has secured a loan facility from Innovate UK of £473,318 to be drawn down over 18 months with the first instalment paid in May 2024.