2023-05-012024-10-312024-10-31false12796832LIVE WITH SPIRIT 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LIVE WITH SPIRIT LTD

Registered Number
12796832
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

LIVE WITH SPIRIT LTD
Company Information
for the period from 1 May 2023 to 31 October 2024

Director

VALLESI, Giorgio

Registered Address

C/O Smooth Accounting Limited
Building 1000 Lakeside North Harbour
Western Road
PO6 3EN

Registered Number

12796832 (England and Wales)
LIVE WITH SPIRIT LTD
Balance Sheet as at
31 October 2024

Notes

31 Oct 2024

30 Apr 2023

£

£

£

£

Fixed assets
Intangible assets3-2,220
Tangible assets4-1,248
-3,468
Current assets
Debtors-5,527
Cash at bank and on hand-862
-6,389
Creditors amounts falling due within one year5(113)(2,393)
Net current assets (liabilities)(113)3,996
Total assets less current liabilities(113)7,464
Creditors amounts falling due after one year6-(6,812)
Provisions for liabilities7-(700)
Net assets(113)(48)
Capital and reserves
Called up share capital44
Profit and loss account(117)(52)
Shareholders' funds(113)(48)
The financial statements were approved and authorised for issue by the Director on 16 June 2025, and are signed on its behalf by:
VALLESI, Giorgio
Director
Registered Company No. 12796832
LIVE WITH SPIRIT LTD
Notes to the Financial Statements
for the period ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the director has decided to cease trade immediately. The company is no longer is a going concern due to cessation of trade.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment5
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 232,2202,220
Disposals(2,220)(2,220)
Net book value
At 31 October 24--
At 30 April 232,2202,220
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 231,5601,560
Disposals(1,560)(1,560)
Depreciation and impairment
At 01 May 23312312
On disposals(312)(312)
Net book value
At 31 October 24--
At 30 April 231,2481,248
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-2,387
Bank borrowings and overdrafts-6
Taxation and social security113-
Total1132,393
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-6,812
Total-6,812
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-700
Total-700
8.Related party transactions
At the end of the prior year, the company owed the Director £6. This loan was interest free and unsecured, it has been repaid in full during the year.