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Company Registration No. 09390552 (England and Wales)
LIBERTY VAULTS LIMITED Unaudited accounts for the year ended 28 April 2024
LIBERTY VAULTS LIMITED Unaudited accounts Contents
Page
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LIBERTY VAULTS LIMITED Company Information for the year ended 28 April 2024
Director
Christopher Iain Johnston
Company Number
09390552 (England and Wales)
Registered Office
128 CITY ROAD LONDON EC1V 2NX UNITED KINGDOM
Accountants
Smart Accounting & Finance Services LLP 128 City Road London EC1V 2NX
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LIBERTY VAULTS LIMITED Statement of financial position as at 28 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
281,478 
293,864 
Tangible assets
315 
466 
281,793 
294,330 
Current assets
Debtors
29,194 
21,579 
Cash at bank and in hand
356 
- 
29,550 
21,579 
Creditors: amounts falling due within one year
(6,494,631)
(6,323,254)
Net current liabilities
(6,465,081)
(6,301,675)
Total assets less current liabilities
(6,183,288)
(6,007,345)
Creditors: amounts falling due after more than one year
(45,787)
(45,787)
Net liabilities
(6,229,075)
(6,053,132)
Capital and reserves
Called up share capital
292 
292 
Share premium
880,240 
880,240 
Revaluation reserve
245,667 
245,667 
Profit and loss account
(7,355,274)
(7,179,331)
Shareholders' funds
(6,229,075)
(6,053,132)
For the year ending 28 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 January 2025 and were signed on its behalf by
Christopher Iain Johnston Director Company Registration No. 09390552
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LIBERTY VAULTS LIMITED Notes to the Accounts for the year ended 28 April 2024
1
Statutory information
LIBERTY VAULTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09390552. The registered office is 128 CITY ROAD, LONDON, EC1V 2NX, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years
Intangible fixed assets
Other intangible assets are patents. They are amortised to profit and loss account up to the patent expiry date which is 23 February 2032.
Going concern
The director has confirmed that he will continue to make funds available to the company to support its day-to-day working capital requirements for a period of at least twelve months from the date of approval of the financial statements.
4
Intangible fixed assets
Other 
£ 
Cost
At 29 April 2023
381,813 
Additions
8,334 
At 28 April 2024
390,147 
Amortisation
At 29 April 2023
87,949 
Charge for the year
20,720 
At 28 April 2024
108,669 
Net book value
At 28 April 2024
281,478 
At 28 April 2023
293,864 
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LIBERTY VAULTS LIMITED Notes to the Accounts for the year ended 28 April 2024
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 29 April 2023
2,093 
At 28 April 2024
2,093 
Depreciation
At 29 April 2023
1,627 
Charge for the year
151 
At 28 April 2024
1,778 
Net book value
At 28 April 2024
315 
At 28 April 2023
466 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
10,265 
2,650 
Other debtors
18,929 
18,929 
29,194 
21,579 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
16,471 
4,213 
VAT
- 
14,796 
Taxes and social security
- 
(373,472)
Other creditors
988,813 
988,813 
Loans from directors
5,489,347 
5,688,904 
6,494,631 
6,323,254 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
45,787 
45,787 
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LIBERTY VAULTS LIMITED Notes to the Accounts for the year ended 28 April 2024
9
Transactions with related parties
Shareholder Loans Included in other creditors (amounts due within one year and amounts due over one year) are the present values of interest-free loans received from shareholders. These loans have been discounted to the present value using a best estimate market interest rate of 6%. The amount due to shareholders as at 28 April 2022 was £94,281 (30 March 2021: £91,418). Companies Under Common Control At the year-end, an amount of £480,931 was owed to companies under common control and included in other creditors (30 March 2021: £339,387). Directors Loans Included in the director's loan account is the present value of an interest-free loan. This loan has been discounted to the present value using a best estimate market interest rate of 10%. The amount due to the director as at 28 April 2022 was £4,856,211 (30 March 2021: £3,243,761).
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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