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Registration number: 04006521

Live Promotions Events Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 December 2024

 

Live Promotions Events Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 11

 

Live Promotions Events Limited

Company Information

Directors

Mr C A Ward

Mr R Limming

Mrs D N Ward

Company secretary

Mrs D N Ward

Registered office

Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

Accountants

Cannon Williamson
Chartered Certified AccountantsAlbion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

 

Live Promotions Events Limited

(Registration number: 04006521)
Balance Sheet as at 30 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

63,998

39,342

Tangible Assets

5

56,912

65,694

 

120,910

105,036

Current assets

 

Debtors

6

1,737,244

1,154,836

Cash at bank and in hand

 

81,859

76,772

 

1,819,103

1,231,608

Creditors: Amounts falling due within one year

7

(878,432)

(513,957)

Net current assets

 

940,671

717,651

Total assets less current liabilities

 

1,061,581

822,687

Creditors: Amounts falling due after more than one year

7

(184,774)

(41,475)

Net assets

 

876,807

781,212

Capital and Reserves

 

Called up share capital

8

202

202

Retained Earnings

876,605

781,010

Shareholders' funds

 

876,807

781,212

For the financial year ending 30 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 4 June 2025 and signed on its behalf by:
 

.........................................
Mr C A Ward
Director

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 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:
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the Board on 4 June 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.

Group accounts not prepared

The company has taken advantage of the option to not prepare consolidated financial statements contained in section 398 of the Companies Act 2006 on the basis that the company and its subsidiary comprise a small group..

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 sales/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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

2

Accounting policies (continued)

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Straight line

Fixtures, fittings and equipment

33% Straight line

Motor vehicles

20% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

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 receivables.

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

2

Accounting policies (continued)

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

2

Accounting policies (continued)

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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 10).

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 31 December 2023

243,437

243,437

Additions acquired separately

40,000

40,000

At 30 December 2024

283,437

283,437

Amortisation

At 31 December 2023

204,095

204,095

Amortisation charge

15,344

15,344

At 30 December 2024

219,439

219,439

Carrying amount

At 30 December 2024

63,998

63,998

At 30 December 2023

39,342

39,342

5

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 31 December 2023

49,425

85,645

72,790

207,860

Additions

2,261

8,495

-

10,756

At 30 December 2024

51,686

94,140

72,790

218,616

Depreciation

At 31 December 2023

45,849

29,765

66,552

142,166

Charge for the year

2,976

15,669

893

19,538

At 30 December 2024

48,825

45,434

67,445

161,704

Carrying amount

At 30 December 2024

2,861

48,706

5,345

56,912

At 30 December 2023

3,576

55,880

6,238

65,694

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

6

Debtors

Current

Note

2024
£

2023
£

Trade Debtors

 

725,175

552,004

Amounts owed by related parties

10

552,306

210,554

Prepayments

 

27,253

41,592

Other debtors

 

432,510

350,686

   

1,737,244

1,154,836

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

27,794

59,791

Trade Creditors

 

228,610

(4,532)

Taxation and social security

 

165,151

163,116

Accruals and deferred income

 

454,817

269,294

Other creditors

 

2,060

26,288

 

878,432

513,957

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

184,774

41,475

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

Ordinary C of £1 each

2

2

2

2

202

202

202

202

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

154,039

-

Hire purchase contracts

30,735

41,475

184,774

41,475

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

9

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,114

22,124

Bank overdrafts

-

26,987

Hire purchase contracts

10,680

10,680

27,794

59,791

10

Related party transactions

 

Live Promotions Events Limited

Notes to the Financial Statements for the Year Ended 30 December 2024 (continued)

10

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

75,000

75,000