Registered number
08307715
Location Live Limited
Filleted Accounts
31 December 2024
Location Live Limited
Registered number: 08307715
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 423,119 291,129
Tangible assets 4 47,327 39,076
Investments 5 64,972 147,304
535,418 477,509
Current assets
Debtors 6 894,755 370,620
Cash at bank and in hand 771,174 1,721,890
1,665,929 2,092,510
Creditors: amounts falling due within one year 7 (1,610,794) (1,687,478)
Net current assets 55,135 405,032
Total assets less current liabilities 590,553 882,541
Creditors: amounts falling due after more than one year 8 (296,328) (162,505)
Net assets 294,225 720,036
Capital and reserves
Called up share capital 1 1
Share premium 3,185,999 3,185,999
Profit and loss account (2,891,775) (2,465,964)
Shareholder's funds 294,225 720,036
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Neil Jones
Director
Approved by the board on 16 June 2025
Location Live Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 3 years
Motor vehicles 4 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 24
3 Intangible fixed assets £
Software development:
Cost
At 1 January 2024 547,714
Additions 336,295
Disposals (177,924)
At 31 December 2024 706,085
Amortisation
At 1 January 2024 256,585
Provided during the year 204,305
On disposals (177,924)
At 31 December 2024 282,966
Net book value
At 31 December 2024 423,119
At 31 December 2023 291,129
Intangible fixed assets are being written off in equal annual instalments over their estimated economic life of 3 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 44,140 65,000 109,140
Additions 4,274 30,000 34,274
Disposals (1,243) (65,000) (66,243)
At 31 December 2024 47,171 30,000 77,171
Depreciation
At 1 January 2024 17,252 52,812 70,064
Charge for the year 11,093 13,687 24,780
On disposals - (65,000) (65,000)
At 31 December 2024 28,345 1,499 29,844
Net book value
At 31 December 2024 18,826 28,501 47,327
At 31 December 2023 26,888 12,188 39,076
5 Investments
Other
investments
£
Cost
At 1 January 2024 147,304
Additions 64,972
Disposals (147,304)
At 31 December 2024 64,972
6 Debtors 2024 2023
£ £
Trade debtors 160,762 37,170
Amounts owed by group undertakings and undertakings in which the company has a participating interest 114,124 112,219
Other debtors 619,869 221,231
894,755 370,620
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 159,486 124,283
Obligations under finance lease and hire purchase contracts - 9,276
Trade creditors 216,516 181,214
Taxation and social security costs 138,748 120,285
Other creditors 1,096,044 1,252,420
1,610,794 1,687,478
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 296,328 162,505
9 Related party transactions
Mr N Jones
It is confirmed the director's loan account is debited with personal funds withdrawn from the company. The loan has interest charged at 2% and does not have fixed repayment terms.
2024 2023
£ £
Amount due from related party at the balance sheet date 114,124 112,219
10 Other information
Location Live Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Courtyard
37 Sheen Road
Richmond
TW9 1AJ
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