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REGISTERED NUMBER: SC453784 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Livelines Tackle & Guns Limited

Livelines Tackle & Guns Limited (Registered number: SC453784)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Livelines Tackle & Guns Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S Hastie
Y Hastie





REGISTERED OFFICE: 26 South Street
Armadale
Bathgate
EH48 3ES





REGISTERED NUMBER: SC453784 (Scotland)





ACCOUNTANTS: MRA Business Services Limited
Chartered Accountants
2 & 6 Wellgatehead
Lanark
Lanarkshire
ML11 9AA

Livelines Tackle & Guns Limited (Registered number: SC453784)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 52,500 70,000
Tangible assets 5 18,976 23,236
71,476 93,236

CURRENT ASSETS
Stocks 237,325 198,051
Debtors 6 1,537 420
Cash at bank and in hand 153,081 144,483
391,943 342,954
CREDITORS
Amounts falling due within one year 7 170,495 179,549
NET CURRENT ASSETS 221,448 163,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,924

256,641

CREDITORS
Amounts falling due after more than one year 8 - 1,579
NET ASSETS 292,924 255,062

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 292,922 255,060
292,924 255,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





Y Hastie - Director


Livelines Tackle & Guns Limited (Registered number: SC453784)

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

1. STATUTORY INFORMATION

Livelines Tackle & Guns Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

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 reducing balance

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 Income Statement, 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.

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 3 (2023 - 3 ) .

Livelines Tackle & Guns Limited (Registered number: SC453784)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 175,000
AMORTISATION
At 1 May 2023 105,000
Charge for year 17,500
At 30 April 2024 122,500
NET BOOK VALUE
At 30 April 2024 52,500
At 30 April 2023 70,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 40,978
DEPRECIATION
At 1 May 2023 17,742
Charge for year 4,260
At 30 April 2024 22,002
NET BOOK VALUE
At 30 April 2024 18,976
At 30 April 2023 23,236

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,537 420

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts - 3,667
Trade creditors 31,329 35,239
Taxation and social security 49,647 42,499
Other creditors 89,519 98,144
170,495 179,549

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1,579