1 September 2023 false No description of principal activity Taxfiler 2024.6 05314031business:CompanyLimitedByGuarantee2023-09-012024-08-31 053140312023-08-31 053140312023-09-012024-08-31 05314031business:AuditExemptWithAccountantsReport2023-09-012024-08-31 05314031business:FilletedAccounts2023-09-012024-08-31 053140312024-08-31 05314031business:Director12023-09-012024-08-31 05314031business:Director22023-09-012024-08-31 05314031business:Director32023-09-012024-08-31 05314031business:Director42023-09-012024-08-31 05314031business:RegisteredOffice2023-09-012024-08-31 053140312023-08-31 05314031core:WithinOneYear2024-08-31 05314031core:WithinOneYear2023-08-31 05314031core:AfterOneYear2024-08-31 05314031core:AfterOneYear2023-08-31 05314031core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 05314031core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 05314031core:PreviouslyStatedAmount2024-08-31 05314031core:PreviouslyStatedAmount2023-08-31 05314031business:SmallEntities2023-09-012024-08-31 05314031countries:EnglandWales2023-09-012024-08-31 05314031core:PlantMachinery2023-09-012024-08-31 05314031core:PlantMachinery2023-08-31 05314031core:FurnitureFittings2023-08-31 05314031core:PlantMachinery2024-08-31 05314031core:FurnitureFittings2024-08-31 05314031core:FurnitureFittings2023-09-012024-08-31 053140312022-09-012023-08-31 iso4217:GBP xbrli:pure
Company Registration No. 05314031 (England and Wales)
Living Faith Foundation Unaudited accounts for the year ended 31 August 2024
Living Faith Foundation Unaudited accounts Contents
Page
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Living Faith Foundation Company Information for the year ended 31 August 2024
Directors
Joseph Adeolu Olaiya Ayodele Betts-Priddy Gabriel Gringo Orakpo LF Foundation
Company Number
05314031 (England and Wales)
Registered Office
16 BEECH ROAD BIRMINGHAM B17 9TD
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Living Faith Foundation Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,208 
30,793 
Current assets
Debtors
(113,420)
(87,522)
Cash at bank and in hand
2,610 
2,013 
(110,810)
(85,509)
Creditors: amounts falling due within one year
(1,721)
(1,721)
Net current liabilities
(112,531)
(87,230)
Total assets less current liabilities
(91,323)
(56,437)
Creditors: amounts falling due after more than one year
3,642 
3,391 
Net liabilities
(87,681)
(53,046)
Reserves
Profit and loss account
(87,681)
(53,046)
Members' funds
(87,681)
(53,046)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 of Directors and authorised for issue on 5 June 2025 and were signed on its behalf by
Gabriel Gringo Orakpo Director Company Registration No. 05314031
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Living Faith Foundation Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Living Faith Foundation is a private company, limited by guarantee, registered in England and Wales, registration number 05314031. The registered office is 16 BEECH ROAD, BIRMINGHAM, B17 9TD.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
48,241 
1,050 
49,291 
At 31 August 2024
48,241 
1,050 
49,291 
Depreciation
At 1 September 2023
17,745 
753 
18,498 
Charge for the year
9,375 
210 
9,585 
At 31 August 2024
27,120 
963 
28,083 
Net book value
At 31 August 2024
21,121 
87 
21,208 
At 31 August 2023
30,496 
297 
30,793 
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Living Faith Foundation Notes to the Accounts for the year ended 31 August 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
(129,317)
(103,419)
Accrued income and prepayments
2,897 
2,897 
Other debtors
13,000 
13,000 
(113,420)
(87,522)
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
(11,619)
(11,619)
Deferred income
13,340 
13,340 
1,721 
1,721 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
(3,642)
(3,391)
8
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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