Registered number
05884849
Live and Learn UK Limited
Filleted Accounts
31 July 2024
Live and Learn UK Limited
Registered number: 05884849
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,412 1,765
Current assets
Debtors 4 10,097 10,097
Cash at bank and in hand 75,494 38,291
85,591 48,388
Creditors: amounts falling due within one year 5 (45,460) (20,708)
Net current assets 40,131 27,680
Total assets less current liabilities 41,543 29,445
Creditors: amounts falling due after more than one year 6 (10,983) (16,609)
Net assets 30,560 12,836
Capital and reserves
Called up share capital 110 110
Profit and loss account 30,450 12,726
Shareholders' funds 30,560 12,836
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.
R W Mercer
Director
Approved by the board on 9 December 2024
Live and Learn UK Limited
Notes to the Accounts
for the year ended 31 July 2024
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).
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.
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 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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment
£
Cost
At 1 August 2023 16,712
At 31 July 2024 16,712
Depreciation
At 1 August 2023 14,947
Charge for the year 353
At 31 July 2024 15,300
Net book value
At 31 July 2024 1,412
At 31 July 2023 1,765
4 Debtors 2024 2023
£ £
Other debtors 10,097 10,097
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,750 8,298
Trade creditors 2,646 660
Taxation and social security costs 12,319 9,816
Other creditors 24,745 1,934
45,460 20,708
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,983 16,609
7 Other information
Live and Learn UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
4a Swinburne Place
Royal Wootton Bassett
Swindon
Wiltshire
SN4 8LE
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