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Registration number: 00080205

Livingston & Doughty Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Livingston & Doughty Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Livingston & Doughty Limited

Company Information

Directors

P. B. D. Murray

U. E. F. S Murray

Registered office

17 Mandervell Road
Oadby
Leicester
LE2 5LR

Accountants

Robert Whowell & Partners LLP
Chartered AccountantsWestwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Livingston & Doughty Limited

(Registration number: 00080205)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,801,231

1,830,553

Investment property

5

515,531

515,531

 

2,316,762

2,346,084

Current assets

 

Stocks

6

42,936

37,468

Debtors

7

72,031

66,962

Investments

8

208,323

138,522

Cash at bank and in hand

 

205,220

264,539

 

528,510

507,491

Creditors: Amounts falling due within one year

9

(50,006)

(43,175)

Net current assets

 

478,504

464,316

Total assets less current liabilities

 

2,795,266

2,810,400

Provisions for liabilities

(277,384)

(279,940)

Net assets

 

2,517,882

2,530,460

Capital and reserves

 

Called up share capital

10

13,777

13,777

Capital redemption reserve

11,166

11,166

Revaluation reserve

1,475,516

1,486,806

Retained earnings

1,017,423

1,018,711

Shareholders' funds

 

2,517,882

2,530,460

 

Livingston & Doughty Limited

(Registration number: 00080205)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 and 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 7 April 2025 and signed on its behalf by:
 

.........................................
P. B. D. Murray
Director

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Mandervell Road
Oadby
Leicester
LE2 5LR

These financial statements were authorised for issue by the Board on 7 April 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

2% straight line

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

15% straight line

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit and loss account. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and goods for resale comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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. Trade creditors 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 and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Freehold property
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

1,800,000

206,137

22,490

105,665

2,134,292

At 31 December 2024

1,800,000

206,137

22,490

105,665

2,134,292

Depreciation

At 1 January 2024

-

205,087

5,622

93,030

303,739

Charge for the year

23,000

210

4,217

1,895

29,322

At 31 December 2024

23,000

205,297

9,839

94,925

333,061

Carrying amount

At 31 December 2024

1,777,000

840

12,651

10,740

1,801,231

At 31 December 2023

1,800,000

1,050

16,868

12,635

1,830,553

The fair value of the company's freehold property was revalued by the directors on 31 December 2023. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £197,506 (2023 - £209,216).

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Investment properties

2024
£

At 1 January 2024

515,531

At 31 December 2024

515,531

The investment property is shown at cost; the directors believe that this is a fair reflection of the open market value. There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

42,936

37,468

7

Debtors

Current

2024
£

2023
£

Trade debtors

57,915

52,899

Other debtors

14,116

14,063

 

72,031

66,962

8

Current asset investments

2024
£

2023
£

Other investments

208,323

138,522

Listed investments

Investments having a net book value of £208,323 (31 December 2023 - £138,522) are listed on a recognised stock exchange and had a market value of £208,323 at the end of the year (31 December 2023 - £138,522).

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,124

2,524

Taxation and social security

15,018

23,478

Accruals and deferred income

27,730

14,065

Other creditors

1,134

3,108

50,006

43,175

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

1,904

1,904

1,904

1,904

Ordinary B shares of £1 each

11,873

11,873

11,873

11,873

 

13,777

13,777

13,777

13,777

 

Livingston & Doughty Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

P. B. D. Murray

Director's loan account

286

3,559

(3,508)

337

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

P. B. D. Murray

Director's loan account

(214)

2,233

(1,733)

286