1 October 2023 false No description of principal activity Taxfiler 2024.6 05986231business:PrivateLimitedCompanyLtd2023-10-012024-09-30 059862312023-09-30 059862312023-10-012024-09-30 05986231business:AuditExemptWithAccountantsReport2023-10-012024-09-30 05986231business:FilletedAccounts2023-10-012024-09-30 059862312024-09-30 05986231business:Director12023-10-012024-09-30 05986231business:CompanySecretary12023-10-012024-09-30 05986231business:RegisteredOffice2023-10-012024-09-30 059862312023-09-30 05986231core:WithinOneYear2024-09-30 05986231core:WithinOneYear2023-09-30 05986231core:AfterOneYear2024-09-30 05986231core:AfterOneYear2023-09-30 05986231core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 05986231core:ShareCapitalcore:PreviouslyStatedAmount2023-09-30 05986231core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 05986231core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-09-30 05986231core:PreviouslyStatedAmount2024-09-30 05986231core:PreviouslyStatedAmount2023-09-30 05986231business:SmallEntities2023-10-012024-09-30 05986231countries:EnglandWales2023-10-012024-09-30 05986231core:IntangibleAssetsOtherThanGoodwill2023-09-30 05986231core:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-30 05986231core:IntangibleAssetsOtherThanGoodwill2024-09-30 059862312022-10-012023-09-30 iso4217:GBP xbrli:pure
Company Registration No. 05986231 (England and Wales)
LIV2RACE LTD Unaudited accounts for the year ended 30 September 2024
LIV2RACE LTD Unaudited accounts Contents
Page
- 2 -
LIV2RACE LTD Company Information for the year ended 30 September 2024
Director
T J Ball
Secretary
Mrs H L G Ball
Company Number
05986231 (England and Wales)
Registered Office
3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU United Kingdom
Accountants
G Schulz & Company Ltd Chartered Management Accountants G W Schulz FCMA CGMA 3 Lane Close Horsham, West Sussex RH12 3UF
- 3 -
LIV2RACE LTD Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
101 
101 
Current assets
Debtors
(761)
13,255 
Cash at bank and in hand
31,210 
105 
30,449 
13,360 
Creditors: amounts falling due within one year
(5,034)
(24,552)
Net current assets/(liabilities)
25,415 
(11,192)
Total assets less current liabilities
25,516 
(11,091)
Creditors: amounts falling due after more than one year
(137,632)
(141,504)
Net liabilities
(112,116)
(152,595)
Capital and reserves
Called up share capital
700 
700 
Profit and loss account
(112,816)
(153,295)
Shareholders' funds
(112,116)
(152,595)
For the year ending 30 September 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 15 February 2025 and were signed on its behalf by
T J Ball Director Company Registration No. 05986231
- 4 -
LIV2RACE LTD Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
LIV2RACE LTD is a private company, limited by shares, registered in England and Wales, registration number 05986231. The registered office is 3 Newhouse Business Centre, Old Crawley Road, Horsham, West Sussex, RH12 4RU, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investments
Investments in shares are included at fair value.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 5 -
LIV2RACE LTD Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 October 2023
272,438 
Disposals
(272,438)
At 30 September 2024
- 
Amortisation
At 1 October 2023
272,438 
On disposals
(272,438)
At 30 September 2024
- 
Net book value
At 30 September 2024
- 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 October 2023
101 
Valuation at 30 September 2024
101 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
(761)
750 
Trade debtors
- 
12,505 
(761)
13,255 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,872 
1,600 
Trade creditors
(362)
9,783 
Amounts owed to group undertakings and other participating interests
100 
100 
Taxes and social security
722 
2,381 
Other creditors
252 
10,238 
Accruals
450 
450 
5,034 
24,552 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,739 
26,611 
Loans from directors
114,893 
114,893 
137,632 
141,504 
- 6 -
LIV2RACE LTD Notes to the Accounts for the year ended 30 September 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
- 7 -