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Registration number: 10390237

Living Spit

(A company limited by guarantee)

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Living Spit

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Living Spit

Company Information

Directors

C Edwards

S McLoughlin

F Trim

Registered office

15 Crossman Walk
Clevedon
BS21 6YD

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisors
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS38 1UR

 

Living Spit

(Registration number: 10390237)
Balance Sheet
31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,845

5,161

Current assets

 

Debtors

5

16,622

1,915

Cash at bank and in hand

 

18,338

35,068

 

34,960

36,983

Creditors: Amounts falling due within one year

6

(24,603)

(24,326)

Net current assets

 

10,357

12,657

Net assets

 

15,202

17,818

Reserves

 

Retained earnings

15,202

17,818

Surplus

 

15,202

17,818

 

Living Spit

(Registration number: 10390237)
Balance Sheet
31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

.........................................
F Trim
Director

 

Living Spit

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
15 Crossman Walk
Clevedon
BS21 6YD

These financial statements were authorised for issue by the Board on 6 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Living Spit

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

Government grants

Government grants are recognised when the company is reasonably assured they will comply with the conditions attached to them and the grant will be received.

Other grants

Revenue grants are recognised under the accruals model as income on a systematic basis over the periods in which the company recognises the related costs the grant is intended to compensate.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

5 years straight line

Motor Vehicles

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

 

Living Spit

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

5,875

4,200

10,075

Additions

4,714

-

4,714

Disposals

-

(4,200)

(4,200)

At 31 August 2024

10,589

-

10,589

Depreciation

At 1 September 2023

3,864

1,050

4,914

Charge for the year

1,880

-

1,880

Eliminated on disposal

-

(1,050)

(1,050)

At 31 August 2024

5,744

-

5,744

Carrying amount

At 31 August 2024

4,845

-

4,845

At 31 August 2023

2,011

3,150

5,161

 

Living Spit

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

5

Debtors

2024
£

2023
£

Prepayments

438

783

Income tax asset

16,184

1,132

16,622

1,915

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,560

1,284

Other creditors

23,043

23,042

24,603

24,326