REGISTERED NUMBER: 08923327 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Live in Style Renovations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P. Holland

J.P. Holland

REGISTERED OFFICE:

62 Bedworth Road

Bulkington

West Midlands

CV12 9LL

REGISTERED NUMBER:

08923327 (England and Wales)

ACCOUNTANTS:

James, Stanley & Co. Limited

1,733 Coventry Road

South Yardley

Birmingham

West Midlands

B26 1DT

FIXED ASSETS

Property, plant and equipment

5

94

282

Investments

6

2

2

Investment property

7

458,824

360,144

458,920

360,428

CURRENT ASSETS

Inventories

8

587,353

556,150

Debtors

9

1,221

1,309

Cash at bank and in hand

4,983

9,265

593,557

566,724

CREDITORS

Amounts falling due within one year

10

403,415

403,444

NET CURRENT ASSETS

190,142

163,280

TOTAL ASSETS LESS CURRENT LIABILITIES

649,062

523,708

CREDITORS

Amounts falling due after more than one year

11

(197,228

)

(207,550

)

PROVISIONS FOR LIABILITIES

(24,324

)

(70

)

NET ASSETS

427,510

316,088

CAPITAL AND RESERVES

Called up share capital

13

102

102

Fair value reserve

14

72,902

-

Retained earnings

354,506

315,986

SHAREHOLDERS' FUNDS

427,510

316,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2025 and were signed on its behalf by:

J.P. Holland - Director

1.	STATUTORY INFORMATION

Live in Style Renovations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that accounting standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Live in Style Renovations Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

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

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment properties

Investment properties are included at fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on gains at the rate of tax expected to apply when the property is sold.

The fair value of investment properties is determined by the valuers based on their knowledge of the property market and consideration of recent transactions for comparable properties. The valuation takes into account factors such as the location, condition, and market rental of the property.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Loans from directors

As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

Change of accounting policy

Historically, the company has presented rental income as "Other operating income" in the Statement of Comprehensive Income.

During the current financial year, the company has reviewed its presentation of income streams and determined that rental income constitutes a significant and recurring component of its core business operations. Accordingly, rental income is now presented within "Revenue" in the Statement of Comprehensive Income.

The change in presentation provides a more relevant and faithful representation of the company's income-generating activities and aligns with the increasing strategic focus on property rental as a principal source of income. This approach is consistent with the requirements of FRS 102 which allow a change in accounting policy when it results in more reliable and relevant information.

Comparative figures have been restated to reflect this change. As a result, revenue for the comparative period has been increased by £31,875, with a corresponding decrease in "Other operating income."

Rental property overheads of £9,318 (2023 - £5,045) are now shown as a cost of sale expense to mirror the treatment of rental income.

There is no impact on profit before tax, total comprehensive income, or net assets.

Leases

Rental income under operating leases are credited to profit and loss account in equal annual amounts over the periods of the leases.

4.	EMPLOYEES AND DIRECTORS

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

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

470

DEPRECIATION

At 1 January 2024

188

Charge for year

188

At 31 December 2024

376

NET BOOK VALUE

At 31 December 2024

94

At 31 December 2023

282

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

2

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

360,144

Additions

1,478

Revaluations

97,202

At 31 December 2024

458,824

NET BOOK VALUE

At 31 December 2024

458,824

At 31 December 2023

360,144

The investment property valued at £458,824 is currently held for use in operating leases. The property was valued by Cartwright Hands, Chartered Surveyors on a fair value basis on 17 June 2024.

In the opinion of the directors, if the investment properties were sold at fair value tax of £24,301 would become liable and deferred tax of this amount has been provided in these financial statements.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

97,202

Cost

361,622

458,824

If the freehold property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

361,622

-

8.	INVENTORIES

31.12.24

31.12.23

£

£

Stocks

587,353

556,150

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Prepayments and accrued income

1,221

1,309

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,920

10,118

Trade creditors

2,070

16,018

Amounts owed to group undertakings

336,995

355,965

Tax

4,366

5,921

Directors' current accounts

42,821

12,182

Accruals and deferred income

6,243

3,240

403,415

403,444

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

197,228

207,550

12.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

208,148

217,668

Barclays Security Trustee Limited hold a fixed and floating charge dated 7 February 2022 as security against the company's bank borrowings and a legal charge over 5-7 Lutterworth Road, Nuneaton, CV11 4LD dated 27 May 2022.

The bank loan is repayable by instalments and the amount falling due after five years totals £145,331.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

102

Ordinary

£1

102

102

14.

RESERVES

Fair

value

reserve

£

Transfer

72,902

At 31 December 2024

72,902

15.	CAPITAL COMMITMENTS

31.12.24

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-

16.	RELATED PARTY DISCLOSURES

In the year ended 31 December 2024, the company received interim dividends totalling £100,000 (2024 - £100,000) from a group undertaking.

Loans from key management personnel are unsecured and interest free with no specific repayment terms and is presented within creditors due within one year.