Registered number
09345044
Livermorium Limited
Filleted Accounts
31 December 2023
Livermorium Limited
Registered number: 09345044
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,345,380 1,345,380
Tangible assets 4 123 153
Investments 5 300 300
1,345,803 1,345,833
Current assets
Debtors 6 30,875 28,268
Cash at bank and in hand 1,803 6,309
32,678 34,577
Creditors: amounts falling due within one year 7 (1,177,574) (1,078,385)
Net current liabilities (1,144,896) (1,043,808)
Total assets less current liabilities 200,907 302,025
Creditors: amounts falling due after more than one year 8 (218,510) (227,431)
Net (liabilities)/assets (17,603) 74,594
Capital and reserves
Called up share capital 228 228
Share premium 889,896 889,896
Profit and loss account (907,727) (815,530)
Shareholders' funds (17,603) 74,594
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Liangchen Chen Mr Adrian C K Li Mow Ching
Director
Approved by the board on 30 September 2024
Livermorium Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Consolidation
The company is a parent company subject to the small company regimes. The company and its subsidiary company comprise a small group. The company is therefore not required to and has not chosen to prepare group accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 5
3 Intangible fixed assets £
Research and developments, and trademarks:
Cost
At 1 January 2023 1,345,380
At 31 December 2023 1,345,380
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 1,345,380
At 31 December 2022 1,345,380
Intangible assets comprise of research and development and trade mark costs which are not currently being amortised.
4 Tangible fixed assets
Fixtures, fttings, tool and equipment
£
Cost
At 1 January 2023 755
At 31 December 2023 755
Depreciation
At 1 January 2023 602
Charge for the year 30
At 31 December 2023 632
Net book value
At 31 December 2023 123
At 31 December 2022 153
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 300
At 31 December 2023 300
6 Debtors 2023 2022
£ £
Other debtors 30,875 28,268
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 841 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 920,660 832,435
Taxation and social security costs 18,068 13,310
Other creditors 227,357 221,992
1,177,574 1,078,385
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,510 27,431
Director's loan - unsecured and subordinated 200,000 200,000
218,510 227,431
9 Related party transactions
FX Technology Limited (100% owned subsidiary by Livermorium Limited)
2023 2022
£ £
Value of licence fee charged to FX Technology Limited 12,435 210,100
Balance owing (by)/to FX Technology Limited at the year end 920,660 832,435
10 Other information
Livermorium Limited is a private company limited by shares and incorporated in England. Its registered office is:
86 - 90 Paul Street
London
EC2A 4NE
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