IRIS Accounts Production v25.1.0.734 11007812 director 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110078122023-10-31110078122024-10-31110078122023-11-012024-10-31110078122022-10-31110078122022-11-012023-10-31110078122023-10-3111007812ns15:EnglandWales2023-11-012024-10-3111007812ns14:PoundSterling2023-11-012024-10-3111007812ns10:Director12023-11-012024-10-3111007812ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3111007812ns10:SmallEntities2023-11-012024-10-3111007812ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3111007812ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3111007812ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3111007812ns10:FullAccounts2023-11-012024-10-3111007812ns10:RegisteredOffice2023-11-012024-10-3111007812ns5:CurrentFinancialInstruments2024-10-3111007812ns5:CurrentFinancialInstruments2023-10-3111007812ns5:Non-currentFinancialInstruments2024-10-3111007812ns5:Non-currentFinancialInstruments2023-10-3111007812ns5:ShareCapital2024-10-3111007812ns5:ShareCapital2023-10-3111007812ns5:SharePremium2024-10-3111007812ns5:SharePremium2023-10-3111007812ns5:RetainedEarningsAccumulatedLosses2024-10-3111007812ns5:RetainedEarningsAccumulatedLosses2023-10-3111007812ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-11-012024-10-3111007812ns5:FurnitureFittings2023-11-012024-10-3111007812ns5:MotorVehicles2023-11-012024-10-3111007812ns5:LandBuildings2023-10-3111007812ns5:PlantMachinery2023-10-3111007812ns5:FurnitureFittings2023-10-3111007812ns5:MotorVehicles2023-10-3111007812ns5:LandBuildings2023-11-012024-10-3111007812ns5:PlantMachinery2023-11-012024-10-3111007812ns5:LandBuildings2024-10-3111007812ns5:PlantMachinery2024-10-3111007812ns5:FurnitureFittings2024-10-3111007812ns5:MotorVehicles2024-10-3111007812ns5:LandBuildings2023-10-3111007812ns5:PlantMachinery2023-10-3111007812ns5:FurnitureFittings2023-10-3111007812ns5:MotorVehicles2023-10-3111007812ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3111007812ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3111007812ns5:Secured2024-10-3111007812ns5:Secured2023-10-31
REGISTERED NUMBER: 11007812 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2024

for

LIVE INNOVATIVE SOLUTIONS LIMITED

LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIVE INNOVATIVE SOLUTIONS LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: H J Weekes





REGISTERED OFFICE: 22 b Leathermarket Street
London
SE1 3HP





REGISTERED NUMBER: 11007812 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Balance Sheet
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,048,682 58,478

CURRENT ASSETS
Stocks 356,070 533,863
Debtors 5 2,674,576 586,576
Cash at bank and in hand 467,830 1,435,046
3,498,476 2,555,485
CREDITORS
Amounts falling due within one year 6 2,732,521 1,594,079
NET CURRENT ASSETS 765,955 961,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,814,637

1,019,884

CREDITORS
Amounts falling due after more than one
year

7

(597,292

)

(16,667

)

PROVISIONS FOR LIABILITIES (30,752 ) (14,620 )
NET ASSETS 1,186,593 988,597

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 149,936 149,936
Retained earnings 1,036,557 838,561
SHAREHOLDERS' FUNDS 1,186,593 988,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Balance Sheet - continued
31 OCTOBER 2024


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 director and authorised for issue on 6 May 2025 and were signed by:





H J Weekes - Director


LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Live Innovative Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the turnover recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

Financial instruments
Basic financial assets/liabilities including trade and other receivables/payables, cash and bank balances, are initially recognised at transaction price unless the arrangement constitutes a financing transaction (loan over period of time) where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Such assets/liabilities are subsequently carried at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 11 ) .

LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 - 46,081 19,758 77,598 143,437
Additions 947,300 13,818 42,664 33,985 1,037,767
Disposals - - (2,708 ) (18,490 ) (21,198 )
At 31 October 2024 947,300 59,899 59,714 93,093 1,160,006
DEPRECIATION
At 1 November 2023 - 45,373 17,422 22,164 84,959
Charge for year 3,719 2,927 4,264 18,161 29,071
Eliminated on disposal - - (2,706 ) - (2,706 )
At 31 October 2024 3,719 48,300 18,980 40,325 111,324
NET BOOK VALUE
At 31 October 2024 943,581 11,599 40,734 52,768 1,048,682
At 31 October 2023 - 708 2,336 55,434 58,478

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 489,095 427,819
Other debtors 2,185,481 158,757
2,674,576 586,576

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 188,973 10,000
Trade creditors 1,399,904 717,718
Taxation and social security 141,904 206,735
Other creditors 1,001,740 659,626
2,732,521 1,594,079

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 597,292 16,667

LIVE INNOVATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 11007812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 546,726 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 786,265 -

The bank loan is secured by a fixed and floating charge over the assets of the company.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H J Weekes.