Living Club Limited 10720117 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 10720117 2023-05-01 2024-04-30 10720117 2024-04-30 10720117 bus:Director1 1 2024-04-30 10720117 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 10720117 bus:SmallEntities 2023-05-01 2024-04-30 10720117 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10720117 bus:FullAccounts 2023-05-01 2024-04-30 10720117 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10720117 bus:RegisteredOffice 2023-05-01 2024-04-30 10720117 bus:Director1 2023-05-01 2024-04-30 10720117 bus:Director1 1 2023-05-01 2024-04-30 10720117 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10720117 countries:EnglandWales 2023-05-01 2024-04-30 10720117 2023-04-30 10720117 bus:Director1 1 2023-04-30 10720117 2022-05-01 2023-04-30 10720117 2023-04-30 10720117 bus:Director1 1 2023-04-30 10720117 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10720117 bus:Director1 1 2022-05-01 2023-04-30 10720117 bus:Director1 1 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 10720117

Living Club Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Living Club Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Living Club Limited

Company Information

Director

Mr M A Bacha

Registered office

31 Kensington Mansions
Trebovir Road
London
SW5 9TQ

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Living Club Limited

(Registration number: 10720117)
Balance Sheet as at 30 April 2024

Note

30 April
2024
£

30 April
2023
£

Fixed assets

 

Investment property

4

316,270

316,270

Current assets

 

Cash at bank and in hand

 

538

91

Creditors: Amounts falling due within one year

5

(328,612)

(325,606)

Net current liabilities

 

(328,074)

(325,515)

Net liabilities

 

(11,804)

(9,245)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(11,805)

(9,246)

Shareholders' deficit

 

(11,804)

(9,245)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 December 2024
 

.........................................
Mr M A Bacha
Director

 

Living Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
31 Kensington Mansions
Trebovir Road
London
SW5 9TQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Living Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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 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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

Living Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Investment properties

30 April
2024
£

At 1 May

316,270

At 30 April

316,270

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

30 April
2024
£

30 April
2023
£

Due within one year

Trade creditors

103

97

Accruals and deferred income

600

600

Other creditors

327,909

324,909

328,612

325,606

6

Share capital

Allotted, called up and fully paid shares

 

30 April
2024

30 April
2023

 

No.

£

No.

£

Odinary share of £0.01 each

100

1

100

1

         
 

Living Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr M A Bacha

Amount owed (to)/from director

(160,859)

(2,000)

(162,859)

       
     

 

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mr M A Bacha

Amount owed (to)/from director

(159,359)

(1,500)

(160,859)