Registered number
12322164
GitLive Ltd
Unaudited Filleted Accounts
31 July 2024
GitLive Ltd
Registered number: 12322164
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 378 311
Cash at bank and in hand 9,076 12,711
9,454 13,022
Creditors: amounts falling due within one year 4 2,143 3,165
Net current assets 11,597 16,187
Net assets 11,597 16,187
Capital and reserves
Called up share capital 1 1
Share premium 407,972 407,972
Profit and loss account (396,376) (391,786)
Shareholders' funds 11,597 16,187
The director is 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 director acknowledges his 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.
Nicholas Bransby-Williams
Director
Approved by the board on 24 April 2025
GitLive Ltd
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. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Debtors 2024 2023
£ £
Other debtors 378 311
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 578 (444)
Other creditors (2,721) (2,721)
(2,143) (3,165)
5 Other information
GitLive Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Gitlive, 13 Freeland Park
Wareham Road
Lytchett Matravers
Poole
BH16 6FA
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