| REGISTERED NUMBER: 15573480 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| AUDITED CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| FOR |
| LIVEXPO HOLDINGS LIMITED |
| REGISTERED NUMBER: 15573480 (England and Wales) |
| GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| AUDITED CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| FOR |
| LIVEXPO HOLDINGS LIMITED |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 | to | 4 |
| Report of the Directors | 5 | to | 6 |
| Report of the Independent Auditors | 7 | to | 10 |
| Consolidated Income Statement | 11 |
| Consolidated Other Comprehensive Income | 12 |
| Consolidated Statement of Financial Position | 13 |
| Company Statement of Financial Position | 14 |
| Consolidated Statement of Changes in Equity | 15 |
| Company Statement of Changes in Equity | 16 |
| Consolidated Statement of Cash Flows | 17 |
| Notes to the Consolidated Statement of Cash Flows | 18 |
| Notes to the Consolidated Financial Statements | 19 | to | 31 |
| LIVEXPO HOLDINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: | Helen Tidyman |
| AUDITORS: |
| Chartered Accountants & Statutory Auditors |
| Stone House |
| Stone Road Business Park |
| Stoke-on-Trent |
| ST4 6SR |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| GROUP STRATEGIC REPORT |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| The directors present their strategic report of the company and the group for the period 18 March 2024 to 30 November 2024. |
| Principal Activities of the group |
| The group provides exhibition services to organisers of events, conferences and exhibitions across exhibitions venues and supplies large-format specialist graphics for retail, events, museums, constructions and visitor attractions. |
| REVIEW OF BUSINESS |
| The financial year marked a significant milestone for the business with the successful completion of a Management Buy-Out (MBO). This transition represents a new chapter in the group's evolution, empowering the leadership team to implement a clear and focused strategic direction. |
| Under the guidance of the new management team, the business has strengthened its market position and expanded its presence across core and emerging sectors. Our diverse team, comprising individuals with a broad range of industry experience and technical expertise, continues to be a key driver of innovation and performance. Over the period, we have further enriched our collective skill set through targeted recruitment, development programs, and a commitment to inclusive leadership. |
| The business has seen growth in customer engagement and market recognition, driven by strategic investments in client focused solutions. We remain confident that our people, supported by a clear vision and a robust operating model, will continue to deliver long-term value for all stakeholders. |
| The results of the audit show a pre-tax profit of £311,209. The directors are pleased with the group performance over the period with significant growth in all areas of the business. |
| The group recognises its responsibilities in terms of equality and human rights towards its employees and individuals involved with the group. To these ends a high priority is given to ethical considerations in supplier and employee selection and partnership. The group has well established codes in respect of employee welfare and respect for the community and the group operates these. |
| KPIs |
| KPIs for Turnover, Gross Profit, year on year trading, performance against budget are reviewed by the and group and board at the monthly meetings. |
| There will a continued focus on the upselling to exhibitors where we are the main contractors on site to drive revenue and increase margin. |
| We have taken a strategic approach to how we invested in 2024, with sustainability principals in mind, to reduce our environmental impact. Transitioning from conventional timber products to sustainable stock is at the centre of our design thinking process. |
| The directors review cash flow on a weekly and monthly basis to ensure all our short- and long-term obligations and strategies can be met. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| GROUP STRATEGIC REPORT |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| Credit Risk |
| The group is exposed to credit risk arising from its contractual arrangements with customers. However, this risk is mitigated by the nature of the group's billing model, whereby a significant proportion of the contracted value is collected in advance of the service being delivered. This upfront collection significantly reduces the risk of non-payment. |
| Additionally, the group operates a robust internal credit checking process to assess the creditworthiness of potential customers before agreements are finalised. This process ensures that credit is only extended to customers who meet defined financial criteria. |
| During the reporting period, all customers adhered to agreed payment terms, and there were no significant credit defaults. The group continues to monitor credit exposure closely and regularly reviews its credit control procedures to ensure they remain effective. |
| Marketing Risk |
| The group faces marketing risk related to changing customer preferences, competitive activity and the Economic conditions impacting client budgets. |
| Inflation and cost pressures: Increasing costs of materials and personnel may affect margins. |
| Operational risks: Delivery risks associated with event or project execution. |
| The group mitigates both these risks through maintaining strong relationships with our clients and careful project planning. |
| Interest Rate Risk |
| The group has a long-term loan in place with a fixed interest rate, which significantly reduces exposure to interest rate volatility. As a result, fluctuations in market interest rates are not expected to have a material impact on the cost of borrowing over the term of the loan. |
| This fixed-rate structure provides certainty over interest payments and supports more accurate financial planning and forecasting. The group continues to monitor market conditions and reviews its financing strategy periodically to ensure it remains aligned with long-term objectives. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| GROUP STRATEGIC REPORT |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| EVENTS AFTER THE POSTING DATE |
| Following the reporting period, the business has entered a phase focused on consolidation and strategic growth. Immediate post-year-end actions have been centred on stabilising operations post-MBO, ensuring continuity in service delivery, and reinforcing organisational resilience. |
| Key initiatives underway include the refinement of internal processes, alignment of the leadership structure, and a review of strategic priorities to capitalise on emerging market opportunities. Early indicators suggest positive momentum, with strengthened client relationships and increased interest in our offerings. |
| The business remains committed to sustainable growth, supported by ongoing investment in talent, technology, and market development. These post-year-end developments position the company to build on recent successes and deliver continued value in the coming year. |
| ON BEHALF OF THE BOARD: |
| 29 August 2025 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| REPORT OF THE DIRECTORS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| The directors present their report with the financial statements of the company and the group for the period 18 March 2024 to 30 November 2024. |
| INCORPORATION |
| The group was incorporated on 18 March 2024. |
| The group acquired Full Circle Events & Exhibitions Limited and Psycho Peacock Limited on 23 August 2024. |
| DIVIDENDS |
| The total distribution of dividends for the period ended 30 November 2024 will be £94,588. |
| EVENTS SINCE THE END OF THE PERIOD |
| Information relating to events since the end of the period is given in the notes to the financial statements. |
| DIRECTORS |
| The directors who have held office during the period from 18 March 2024 to the date of this report are as follows: |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| REPORT OF THE DIRECTORS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| AUDITORS |
| Sumer AuditCo Limited are deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LIVEXPO HOLDINGS LIMITED |
| Opinion |
| We have audited the financial statements of LivExpo Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 November 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 30 November 2024 and of the group's profit for the period then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LIVEXPO HOLDINGS LIMITED |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LIVEXPO HOLDINGS LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit |
| evidence that is sufficient and appropriate to provide a basis for our opinion. |
| Identifying and assessing potential risks related to irregularities |
| In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: |
| • | the nature of the industry and sector, control environment and business performance including the design of the group remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets; |
| • | results of our enquiries of management about their own identification and assessment of the risks of irregularities; |
| • | any matters we identified having obtained and reviewed the group documentation of their policies and procedures relating to: |
| - | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; |
| - | detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
| - | the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |
| • | the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |
| Based on this approach, we were able to assess the group risks and ensure the risks were considered throughout all areas of audit testing. The audit team was professionally sceptical throughout the audit and remained alert for inaccurate or misleading information. |
| Audit response to risks identified |
| As a result of performing the above, we identified the sale of the group related to the potential risk of fraud or irregularities. Our procedures to respond to risks identified included the following: |
| • reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
| • enquiring of management concerning actual and potential litigation and claims; |
| • performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
| • obtaining an understanding of provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions; and |
| • in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| LIVEXPO HOLDINGS LIMITED |
| Audit testing was completed on a targeted sample basis based on our assessment of risk and materiality. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
| As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: |
| - | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
| - | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. |
| - | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
| - | Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. |
| - | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
| - | Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express and opinion on the consolidated financial statements. |
| We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants & Statutory Auditors |
| Stone House |
| Stone Road Business Park |
| Stoke-on-Trent |
| ST4 6SR |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONSOLIDATED INCOME STATEMENT |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Notes | £ |
| TURNOVER | 3 | 8,602,553 |
| Cost of sales | (4,861,556 | ) |
| GROSS PROFIT | 3,740,997 |
| Administrative expenses | (2,899,329 | ) |
| OPERATING PROFIT | 5 | 841,668 |
| Interest payable and similar expenses | 6 | (530,459 | ) |
| PROFIT BEFORE TAXATION | 311,209 |
| Tax on profit | 7 | (185,461 | ) |
| PROFIT FOR THE FINANCIAL PERIOD |
| Profit attributable to: |
| Owners of the parent | 125,748 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONSOLIDATED OTHER COMPREHENSIVE INCOME |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Notes | £ |
| PROFIT FOR THE PERIOD | 125,748 |
| OTHER COMPREHENSIVE INCOME | - |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
125,748 |
| Total comprehensive income attributable to: |
| Owners of the parent | 125,748 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2024 |
| Notes | £ |
| FIXED ASSETS |
| Intangible assets | 10 | 12,111,826 |
| Tangible assets | 11 | 2,633,237 |
| Investments | 12 | - |
| 14,745,063 |
| CURRENT ASSETS |
| Stocks | 13 | 768,040 |
| Debtors | 14 | 2,508,274 |
| Cash at bank | 1,863,662 |
| 5,139,976 |
| CREDITORS |
| Amounts falling due within one year | 15 | (6,106,894 | ) |
| NET CURRENT LIABILITIES | (966,918 | ) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
13,778,145 |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
(11,988,626 |
) |
| PROVISIONS FOR LIABILITIES | 20 | (525,026 | ) |
| NET ASSETS | 1,264,493 |
| CAPITAL AND RESERVES |
| Called up share capital | 21 | 1,233,333 |
| Retained earnings | 22 | 31,160 |
| SHAREHOLDERS' FUNDS | 1,264,493 |
| The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by: |
| S Green - Director |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| COMPANY STATEMENT OF FINANCIAL POSITION |
| 30 NOVEMBER 2024 |
| Notes | £ |
| FIXED ASSETS |
| Intangible assets | 10 |
| Tangible assets | 11 |
| Investments | 12 |
| CURRENT ASSETS |
| Debtors | 14 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 15 | ( |
) |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 21 |
| Retained earnings | 22 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 227,604 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Changes in equity |
| Issue of share capital | 1,233,333 | - | 1,233,333 |
| Dividends | - | (94,588 | ) | (94,588 | ) |
| Total comprehensive income | - | 125,748 | 125,748 |
| Balance at 30 November 2024 | 1,233,333 | 31,160 | 1,264,493 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Changes in equity |
| Issue of share capital | - |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 30 November 2024 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| CONSOLIDATED STATEMENT OF CASH FLOWS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| Notes | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 9,080,136 |
| Interest paid | (500,409 | ) |
| Interest element of hire purchase payments paid |
(30,050 |
) |
| Tax paid | 293,466 |
| Net cash from operating activities | 8,843,143 |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | (12,749,291 | ) |
| Purchase of tangible fixed assets | (172,772 | ) |
| Sale of tangible fixed assets | 22,001 |
| Net cash from investing activities | (12,900,062 | ) |
| Cash flows from financing activities |
| New loans in year | 4,272,335 |
| Loan repayments in year | (555,301 | ) |
| Cash acquired from investments | 1,459,955 |
| Capital repayments in year | (395,153 | ) |
| Amount introduced by directors | 456,910 |
| Amount withdrawn by directors | (456,910 | ) |
| Share issue | 1,233,333 |
| Equity dividends paid | (94,588 | ) |
| Net cash from financing activities | 5,920,581 |
| Increase in cash and cash equivalents | 1,863,662 |
| Cash and cash equivalents at beginning of period |
2 |
- |
| Cash and cash equivalents at end of period |
2 |
1,863,662 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| £ |
| Profit before taxation | 311,209 |
| Depreciation charges | 803,530 |
| Loss on disposal of fixed assets | 29,903 |
| Finance costs | 530,459 |
| 1,675,101 |
| Increase in stocks | (768,040 | ) |
| Increase in trade and other debtors | (2,508,274 | ) |
| Increase in trade and other creditors | 10,681,349 |
| Cash generated from operations | 9,080,136 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
| Period ended 30 November 2024 |
| 30.11.24 | 18.3.24 |
| £ | £ |
| Cash and cash equivalents | 1,863,662 | - |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 18.3.24 | Cash flow | At 30.11.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | - | 1,863,662 | 1,863,662 |
| - | 1,863,662 | 1,863,662 |
| Debt |
| Finance leases | - | (123,388 | ) | (123,388 | ) |
| Debts falling due within 1 year | - | (808,086 | ) | (808,086 | ) |
| Debts falling due after 1 year | - | (5,999,995 | ) | (5,999,995 | ) |
| - | (6,931,469 | ) | (6,931,469 | ) |
| Total | - | (5,067,807 | ) | (5,067,807 | ) |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| LivExpo Holdings Limited is a |
| The principal activity of the company is that of a holding company. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements are prepared in sterling, which is the functional currency of the group. |
| BASIS OF CONSOLIDATION |
| The consolidated financial statements incorporate those of LivExpo Holdings Limited and its subsidiary undertakings for the year. Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes. The difference between the cost of acquisition of shares in subsidiaries and the fair value of the identifiable net assets acquired is capitalised as purchased goodwill and amortised through the profit and loss account over its estimated economic life. Provision is made for any impairment. The financial statements are made up to 30 November 2024. |
| All companies have co-terminus year ends. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. |
| As permitted by Section 408 of the Companies Act 2006, the company has not presented its own profit and loss account. The company's profit and total comprehensive income are presented in the company Statement of Financial Position. |
| GOING CONCERN |
| The negative net assets position is primarily due to the impact of the management buyout (MBO), during which all long-term liabilities were settled. The repayment of these liabilities was funded from existing cash reserves. As a result, the group's cash balance was materially reduced, leading to a negative net asset position. This outcome reflects a strategic decision to deleverage the business, positioning it for greater financial stability moving forward. |
| The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| REVENUE RECOGNITION |
| Sales of services |
| Revenue from exhibition activities is recognised on the date the exhibition opens. This reflects the point at which the significant risks and rewards of ownership have been transferred, and the performance obligation is considered satisfied. Any fees received in advance of the exhibition opening are recorded as deferred revenue and recognised as income when the exhibition commences. |
| Sales of goods |
| Revenue is recognised when control of the goods has been transferred to the customer, which occurs upon dispatch. This reflects the point at which the significant risks and rewards of ownership are passed to the customer and the performance obligation is satisfied. Revenue is measured at the fair value of the consideration received or receivable, net of returns, trade discounts, and volume rebates. |
| GOODWILL |
| Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. |
| Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. |
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: |
| Goodwill - 5 years straight line |
| If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. |
| TANGIBLE FIXED ASSETS |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
| Hire equipment | - 10% on cost |
| Theatre systems | - 10% reducing balance |
| Plant and machinery | - 10% reducing balance |
| Fixtures and fittings | - 15% reducing balance |
| Motor vehicles | - 25% reducing balance |
| Computer equipment | - 33.3% reducing balance and 20% reducing balance |
| Short leasehold | - straight line over the life of the lease |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| FINANCIAL INSTRUMENTS |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| TAXATION |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
| Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
| When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by class of business is given below: |
| £ |
| Sale of services | 8,031,388 |
| Sale of goods | 571,165 |
| 8,602,553 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 4. | EMPLOYEES AND DIRECTORS |
| £ |
| Wages and salaries | 1,312,638 |
| Social security costs | 122,055 |
| Other pension costs | 167,873 |
| 1,602,566 |
| The average number of employees during the period was as follows: |
| Administration and management |
| £ |
| Directors' remuneration | 79,172 |
| Directors' pension contributions to money purchase schemes | 3,607 |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes | 2 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| £ |
| Other operating leases | 118,290 |
| Depreciation - owned assets | 167,121 |
| Loss on disposal of fixed assets | 29,903 |
| Goodwill amortisation | 637,465 |
| Auditors' remuneration | 19,650 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| £ |
| Bank interest | 92,495 |
| Bank loan interest | 185,950 |
| Other interest payable | 221,964 |
| Hire purchase interest | 30,050 |
| 530,459 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the period was as follows: |
| £ |
| Current tax: |
| UK corporation tax | 189,236 |
| Deferred tax | (3,775 | ) |
| Tax on profit | 185,461 |
| RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS |
| The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| £ |
| Profit before tax | 311,209 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % |
77,802 |
| Effects of: |
| Expenses not deductible for tax purposes | 100,860 |
| Income not taxable for tax purposes | (5,412 | ) |
| Depreciation in excess of capital allowances | 15,986 |
| Deferred tax | (3,775 | ) |
| Total tax charge | 185,461 |
| 8. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 9. | DIVIDENDS |
| £ |
| Ordinary shares of £1 each |
| Final | 94,588 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 10. | INTANGIBLE FIXED ASSETS |
| Group |
| Goodwill |
| £ |
| COST |
| Additions | 12,749,291 |
| At 30 November 2024 | 12,749,291 |
| AMORTISATION |
| Amortisation for period | 637,465 |
| At 30 November 2024 | 637,465 |
| NET BOOK VALUE |
| At 30 November 2024 | 12,111,826 |
| 11. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements |
| Short | Long | to | Plant and |
| leasehold | leasehold | property | machinery |
| £ | £ | £ | £ |
| COST |
| Additions | - | 1,200 | - | 143,786 |
| Disposals | - | - | - | - |
| On acquisition | 159,591 | 138,644 | 101,452 | 3,101,494 |
| At 30 November 2024 | 159,591 | 139,844 | 101,452 | 3,245,280 |
| DEPRECIATION |
| Charge for period | 2,960 | 1,375 | 1,092 | 120,223 |
| Eliminated on disposal | - | - | - | - |
| On acquisition | 78,879 | 94,185 | 67,214 | 1,131,877 |
| At 30 November 2024 | 81,839 | 95,560 | 68,306 | 1,252,100 |
| NET BOOK VALUE |
| At 30 November 2024 | 77,752 | 44,284 | 33,146 | 1,993,180 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 11. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| Additions | 8,932 | - | 18,854 | 172,772 |
| Disposals | - | (97,500 | ) | (26,954 | ) | (124,454 | ) |
| On acquisition | 401,207 | 480,836 | 324,793 | 4,708,017 |
| At 30 November 2024 | 410,139 | 383,336 | 316,693 | 4,756,335 |
| DEPRECIATION |
| Charge for period | 6,504 | 4,347 | 30,620 | 167,121 |
| Eliminated on disposal | - | (47,907 | ) | (24,643 | ) | (72,550 | ) |
| On acquisition | 207,563 | 301,476 | 147,333 | 2,028,527 |
| At 30 November 2024 | 214,067 | 257,916 | 153,310 | 2,123,098 |
| NET BOOK VALUE |
| At 30 November 2024 | 196,072 | 125,420 | 163,383 | 2,633,237 |
| Finance leases and hire purchase contracts |
| Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements: |
| Plant & Machinery |
| £ |
| At 30 November 2024 | 497,354 |
| 12. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 12. | FIXED ASSET INVESTMENTS - continued |
| The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
| SUBSIDIARIES |
| Registered office: Engels House Victoria Mills, Weaste Trading Estate, Salford, Greater Manchester, M5 5HD |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Engels House Victoria Mills, Weaste Trading Estate, Salford, Greater Manchester, M5 5HD |
| Nature of business: |
| % |
| Class of shares: | holding |
| 13. | STOCKS |
| Group |
| £ |
| Stocks | 672,770 |
| Finished goods | 95,270 |
| 768,040 |
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| £ | £ |
| Trade debtors | 1,785,307 |
| Other debtors | 100 |
| VAT | - |
| Prepayments and accrued income | 722,867 |
| 2,508,274 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| £ | £ |
| Bank loans and overdrafts (see note 17) | 808,086 |
| Hire purchase contracts (see note 18) | 123,388 |
| Trade creditors | 2,029,873 |
| Amounts owed to group undertakings | - |
| Tax | 482,702 |
| Social security and other taxes | 130,160 |
| VAT | 296,704 | - |
| Other creditors | 142,447 |
| Accruals and deferred income | 2,093,534 |
| 6,106,894 |
| Amounts owed to group undertakings are unsecured, interest free and are repayable on demand. |
| 16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| £ | £ |
| Bank loans (see note 17) | 5,999,995 |
| Other creditors | 5,988,631 |
| 11,988,626 |
| Included in other creditors are secured loan notes of £5,988,631 which attract an interest rate of 14% |
| per annum. The final redemption date is 23 August 2029. |
| 17. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group | Company |
| £ | £ |
| Amounts falling due within one year or | on demand: |
| Bank loans | 808,086 |
| Amounts falling due between one and | two years: |
| Bank loans - 1-2 years | 800,004 |
| Amounts falling due between two and | five years: |
| Bank loans - 2-5 years | 5,199,991 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 17. | LOANS - continued |
| There are two bank loan facilities with Shawbrook Bank Limited; one is repayable over 5 years by |
| monthly instalments of £66,667 at an interest rate of 5.25% plus the higher of the Sterling Overnight |
| Index Average Reference Rate and 0.25% per annum, and one is repayable in full on 23 August 2029 at an interest rate of 5.85% plus the higher of the Sterling Overnight Index Average Reference Rate and 0.25% per annum. During the period total interest of £185,950 was accrued. |
| There is a bank loan with GC Business Finance and this is repayable by monthly instalments of £2,033. The loan was repaid in full on 15 March 2025. |
| 18. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire |
| purchase |
| contracts |
| £ |
| Net obligations repayable: |
| Within one year | 123,388 |
| Group |
| Non- |
| cancellable |
| operating |
| leases |
| £ |
| Within one year | 676,169 |
| Between one and five years | 1,858,685 |
| In more than five years | 303,445 |
| 2,838,299 |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 19. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| £ |
| Bank loans | 6,808,081 |
| Hire purchase contracts | 123,388 |
| 6,931,469 |
| The hire purchase liabilities are secured on the related assets. |
| The bank loans are secured by a fixed and floating charge over the assets of the company. |
| The group has the following charges - |
| Fixed and floating charge dated 23 August 2024 over the property or undertaking of the company in favour of Shawbrook Bank Limited. |
| Floating charge dated 23 August 2024 over the property or undertaking of the company in favour of Panoramic Sme Fund 3 LP. |
| 20. | PROVISIONS FOR LIABILITIES |
| Group |
| £ |
| Deferred tax |
| Accelerated capital allowances | 525,026 |
| Group |
| Deferred |
| tax |
| £ |
| On acquisition | 528,801 |
| Credit to Income Statement | (3,775 | ) |
| Balance at 30 November 2024 | 525,026 |
| 21. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary | £1 | 740,000 |
| Ordinary A | £1 | 493,333 |
| 1,233,333 |
| All shares rank pari passu. There are no restrictions on distribution of dividends and repayment of capital. |
| LIVEXPO HOLDINGS LIMITED (REGISTERED NUMBER: 15573480) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 18 MARCH 2024 TO 30 NOVEMBER 2024 |
| 22. | RESERVES |
| Group |
| Retained |
| earnings |
| £ |
| Profit for the period | 125,748 |
| Dividends | (94,588 | ) |
| At 30 November 2024 | 31,160 |
| Company |
| Retained |
| earnings |
| £ |
| Profit for the period |
| Dividends | ( |
) |
| At 30 November 2024 |
| 23. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the period ended 30 November 2024 advances of £94,589 were made by the group to the directors. Repayments of £94,589 were made during the period by the directors to the group and the highest paid amount outstanding by the directors to the group during the year was £63,961. |
| The amounts advanced are interest free, unsecured and repayable on demand. |
| 24. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 25. | POST BALANCE SHEET EVENTS |
| There were no material events up to the date of approval of the financial statement by the board. |
| 26. | ULTIMATE CONTROLLING PARTY |
| There is no one ultimate controlling party of the parent undertaking. |