Living Easy Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Living Easy Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	231,680	147,410
Current assets
Debtors	5	1,000	3,110
Cash at bank and in hand		2,804	865
		3,804	3,975
Creditors: Amounts falling due within one year	6	(85,733)	(1,014)
Net current (liabilities)/assets		(81,929)	2,961
Total assets less current liabilities		149,751	150,371
Creditors: Amounts falling due after more than one year	6	(144,431)	(145,631)
Provisions for liabilities		(145)	-
Net assets		5,175	4,740
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		4,175	3,740
Shareholders' funds		5,175	4,740

Living Easy Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 April 2025
 

......................................... Mr K E Avis Director

Company Registration Number: 12355814

Living Easy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
103 Heath Road South
Weston
Runcorn
WA7 4QH

These financial statements were authorised for issue by the director on 9 April 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

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.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

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 corporation 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.

Living Easy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

Living Easy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Living Easy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	147,410	-	147,410
Additions	83,353	1,146	84,499
At 31 December 2024	230,763	1,146	231,909
Depreciation
Charge for the year	-	229	229
At 31 December 2024	-	229	229
Carrying amount
At 31 December 2024	230,763	917	231,680
At 31 December 2023	147,410	-	147,410

Included within the net book value of land and buildings above is £230,763 (2023 - £147,410) in respect of freehold land and buildings.
 

5

Debtors

	2024 £	2023 £
Trade debtors	1,000	1,000
Prepayments	-	2,110
	1,000	3,110

Living Easy Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	-	668
Accruals and deferred income	330	300
Other creditors	85,403	46
	85,733	1,014

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	144,431	145,631

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	144,431	145,631