Livework Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07797481

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		1,352		1,803
Investments	4		88,206		88,206

			89,558		90,009
CURRENT ASSETS
Debtors	5	205,472		194,888
Cash at bank and in hand		97,874		122,454

		303,346		317,342
Creditors: Amounts Falling Due Within One Year	6	(1,464 )		(1,000 )

NET CURRENT ASSETS (LIABILITIES)			301,882		316,342

TOTAL ASSETS LESS CURRENT LIABILITIES			391,440		406,351

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,361 )		(1,361 )

NET ASSETS			390,079		404,990

CAPITAL AND RESERVES
Called up share capital			400		400
Share premium account			85,387		85,387
Capital redemption reserve			30		30
Share based payment reserve			24,160		13,331
Profit and Loss Account			280,102		305,842

SHAREHOLDERS' FUNDS			390,079		404,990

Page 1

Page 2

Livework Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Benjamin Reason

Director

29 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

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

1.2. Turnover

Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.

1.3. Financial Instruments

Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.

1.4. Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

1.5. Taxation

The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally

recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be

available against which those deductible timing differences can be utilised. The carrying amount of deferred

tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer

probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in

which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted

or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within

provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities

and asset reflects the tax consequences that would follow from the manner in which the Company expects,

at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax is only adjusted if the change in the timing difference is material.

Page 3

Page 4

Livework Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

1.6. Investment

Interests in subsidiaries, associates and jointly controlled entities are initially measure at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and

operating policies of the entity so as to obtain benefits from its activities.

2. Average Number of Employees

	2024	2023
Average number of employees, including directors, during the year	3	3

	3	3

3. Intangible Assets

	Website development
	£
Cost
As at 1 January 2024	2,254

As at 31 December 2024	2,254

Amortisation
As at 1 January 2024	451
Provided during the period	451

As at 31 December 2024	902

Net Book Value
As at 31 December 2024	1,352

As at 1 January 2024	1,803

4. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	88,206

As at 31 December 2024	88,206

Provision
As at 1 January 2024	-

As at 31 December 2024	-

...CONTINUED

Page 4

Page 5

Livework Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	88,206

As at 1 January 2024	88,206

Livework Studio Limited

The company holds 100% of the share capital in Livework Studio Limited.

Profit/(loss) for the year: (£509,086)

Capital and reserves: (£336,429)

5. Debtors

	2024	2023 as restated
	£	£
Due within one year
Amounts owed by group undertakings	145,577	136,470
Other debtors	59,895	58,418

	205,472	194,888

6. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	1,464	-
Other creditors	-	1,000

	1,464	1,000

7. Related Party Transactions

Livework Studio Limited

The amount due from group undertaking at the year end was £101,115 (2023 : £92,008)

Livework Netherlands

The amount due from group undertaking at the year end was £44,462 (2023 : £44,462)

8. Share Option Expenses

The company operates an equity-settled share scheme for its employees. The service cost to the company during the year was £10,829. Over the term of the share scheme, the total cost incurred is £24,160.

9. General Information

Livework Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 07797481 . The registered office is 86-90 Paul Street, London, EC2A 4NE.

Page 5