REGISTERED NUMBER: 07095461

LIV PROJEKT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Da Cruz

E Sjolander Da Cruz

REGISTERED OFFICE:

Studio 211 Scott House

Gibb Street

Birmingham

B9 4AA

REGISTERED NUMBER:

07095461

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

FIXED ASSETS

Tangible assets

4

707

943

CURRENT ASSETS

Debtors: amounts falling due within one year

5

2,273,251

2,360,427

Cash and cash equivalents

6

3,055

3,919

2,276,306

2,364,346

CREDITORS

Amounts falling due within one year

7

(1,729,630

)

(1,815,024

)

NET CURRENT ASSETS

546,676

549,322

TOTAL ASSETS LESS CURRENT LIABILITIES

547,383

550,265

CAPITAL AND RESERVES

Called up share capital

8

500,000

500,000

Retained earnings

47,383

50,265

SHAREHOLDERS' FUNDS

547,383

550,265

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

E Sjolander Da Cruz - Director

1.	STATUTORY INFORMATION

Liv Projekt is a private limited company (limited by shares), it is incorporated and domiciled in England and Wales.

The address of the company's registered address is Studio 211 Scott House, Gibb Street, Birmingham, B9 4AA.

The principal activity of the company in the year under review was that of property development management.

2.	ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

Going concern

The director considers the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and in regards to the company's current and anticipated bank facilities and the availability of support, if required, from the parent undertaking.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from management fees to other group companies is recognised in the period that the fees relates to.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment - 20% straight line

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation

Tax is recognised in the Statement of income and retained earnings.

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 and in the countries where the company operates and generates income.

Foreign currency translation

Functional and presentational currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within ‘Administrative expenses’.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

Cost

At 1 January 2024

and 31 December 2024

1,179

Depreciation

At 1 January 2024

236

Charge for year

236

At 31 December 2024

472

Net book value

At 31 December 2024

707

At 31 December 2023

943

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

1,769,727

2,047,227

Other debtors

11,324

1,000

Prepayments and accrued income

492,200

312,200

2,273,251

2,360,427

6.	CASH AND CASH EQUIVALENTS

2024

2023

£

£

Cash at bank and in hand

3,055

3,919

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,623

1,633

Amounts owed to group undertakings

1,310,330

1,407,667

Social security and other taxes

3,945

40,517

Other creditors

587

587

Accruals

412,145

364,620

1,729,630

1,815,024

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

500,000

Ordinary Shares

1.00

500,000

500,000

9.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is H2 Projekt AB.

10.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,959 (2023: £3,056) . Contributions totalling £587 (2023: £587) were payable to the fund at the balance sheet date and are included in creditors.

11.	RELATED PARTY TRANSACTIONS

Debtors include a balance of £1,766,160 (2023: £889,163) due from Liv Property Limited, £Ni (2023: £1,154,497) due from Liv Property 3 Limited and £3,567 (2023: £3,567) due from Camden Street Development Limited. These companies are fellow subsidiaries.

During the year, management fees of £160,000 (2023: £130,000) to Liv Property Limited, £10,000 (2023: £10,000) to Camden Street Development Limited and £10,000 (2023: £10,000) to Liv Property 2 Limited. These amounts were recorded in prepayments and accrued income.

As at the year end the company owed £1,295,830 (2023: £1,393,167) to the parent H2 Projekt AB which is included in amounts owed to group undertakings. Interest of £408,816 (2023: £361,449) has accrued on this loan at the balance sheet date. This loan is repayable on demand and interest is charged at 4.5% (2023: 2.5%) per annum. During the year, the company owed £14,500 (2023: £14,500) to Liv Property 2 Limited, a fellow subsidiary.

At the year end, in other debtors is £1,000 (2023: £1,000) due to Sjolander da Cruz Architects Limited, a company owned by the directors.