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REGISTERED NUMBER: 12332559 (United Kingdom)















LIBERTY TRAILS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






LIBERTY TRAILS LIMITED (REGISTERED NUMBER: 12332559)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


LIBERTY TRAILS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Ms E Prior





REGISTERED OFFICE: Prospect House
11 Western Road
Launceston
Cornwall
PL15 7AS





REGISTERED NUMBER: 12332559 (United Kingdom)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

LIBERTY TRAILS LIMITED (REGISTERED NUMBER: 12332559)

ABRIDGED BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,614 4,819
Tangible assets 5 5,881 8,716
9,495 13,535

CURRENT ASSETS
Debtors 22,208 33,888
Cash at bank 10,495 12,780
32,703 46,668
CREDITORS
Amounts falling due within one year (26,982 ) (46,260 )
NET CURRENT ASSETS 5,721 408
TOTAL ASSETS LESS CURRENT LIABILITIES 15,216 13,943

CREDITORS
Amounts falling due after more than one year 6 (26,624 ) (32,069 )
NET LIABILITIES (11,408 ) (18,126 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (11,409 ) (18,127 )
(11,408 ) (18,126 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:



Ms E Prior - Director


LIBERTY TRAILS LIMITED (REGISTERED NUMBER: 12332559)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Liberty Trails Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 November 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 December 2022.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Going concern
These financial statements have been prepared on a going concern basis as the directors have agreed to provide ongoing financial support via their directors' loan accounts.

The directors have assessed the company's financial position as well as considered the future sales expectation. They have concluded that the company will still be able to trade for at least the next eighteen months. They, therefore, consider it correct to continue to adopt the going concern basis of accounting.

LIBERTY TRAILS LIMITED (REGISTERED NUMBER: 12332559)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 9,563
AMORTISATION
At 1 December 2023 4,744
Amortisation for year 1,205
At 30 November 2024 5,949
NET BOOK VALUE

At 30 November 2024 3,614
At 30 November 2023 4,819

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023 16,501
Disposals (3,500 )
At 30 November 2024 13,001
DEPRECIATION
At 1 December 2023 7,785
Charge for year 1,960
Eliminated on disposal (2,625 )
At 30 November 2024 7,120
NET BOOK VALUE
At 30 November 2024 5,881
At 30 November 2023 8,716

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 1,293 6,738

LIBERTY TRAILS LIMITED (REGISTERED NUMBER: 12332559)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Ms E Prior
Balance outstanding at start of year 23,688 -
Amounts advanced - 23,688
Amounts repaid (16,879 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,809 23,688

The company charged interest on the loan to the directors at a rate of 2.25% per annum. As at the year end the interest unpaid was nil.

8. GOING CONCERN

These financial statements have been prepared on a going concern basis as the directors have agreed to provide ongoing financial support via their directors' loan accounts.

The directors have assessed the company's financial position as well as considered the future sales expectation. They have concluded that the company will still be able to trade for at least the next eighteen months. They, therefore, consider it correct to continue to adopt the going concern basis of accounting.