REGISTERED NUMBER: 08515386 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LIV PROPERTY LIMITED

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:

08515386 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

CURRENT ASSETS

Stocks

4

3,182,828

4,097,198

Debtors: amounts falling due within one year

5

1,754,864

406,482

Cash at bank

6

206,488

1,452,963

5,144,180

5,956,643

CREDITORS

Amounts falling due within one year

7

(4,778,680

)

(5,694,594

)

NET CURRENT ASSETS

365,500

262,049

TOTAL ASSETS LESS CURRENT LIABILITIES

365,500

262,049

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

365,499

262,048

SHAREHOLDERS' FUNDS

365,500

262,049

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

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

The principal activity of the company is that of property development.

2.	ACCOUNTING POLICIES

Basis of preparing the 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 property sales is recognised based on when sales are completed. Revenue from the provision of building services is recognised once the building service is completed. Rental revenue is recognised in line with the terms of the lease.

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. Nonmonetary 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'.

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 in the countries where the company operates and generates income.

Stocks and work in progress

Stocks and work in progress are stated at the lower of cost and net realisable value. Cost includes the cost of purchase, development costs and an appropriate proportion of fixed and variable overheads.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

STOCKS

2024

2023

as restated

£

£

Work-in-progress

3,182,828

4,097,198

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Prepayments

9,310

8,279

Amounts owed by group undertakings

1,744,647

350,900

Other debtors

907

47,303

1,754,864

406,482

6.	CASH AT BANK

2024

2023

as restated

£

£

Cash at bank and in hand

206,488

1,452,963

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

25,878

30,240

Amounts owed to group undertakings

4,166,604

4,956,936

Amounts owed to connected companies

14,235

464,200

Corporation tax

80,492

12,149

Other creditors

5,175

-

Accruals and deferred income

486,296

231,069

4,778,680

5,694,594

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1

Ordinary

£1.00

1

1

9.	RELATED PARTY DISCLOSURES

At the year end the company is owed £515,006 (2023: £262,200) from Liv Property 2 Limited, a fellow subsidiary, £1,000 (2023: £nil) from Liv Projekt Investments Limited, a fellow subsidiary and £1,228,641 (2023: £88,700) from Camden Street Development Limited, a fellow subsidiary. The balances are shown within debtors, amounts owed to group undertakings.

At the year end the company owed £1,766,160 (2023: £889,163) to Liv Projekt Limited, a fellow subsidiary, £Nil (2023: £2,682,370) was owed to Liv Property 3 Limited, a fellow subsidiary, £2,400,444 (2023: £1,385,403) was owed to H2 Projekt AB, the immediate parent company. Interest of £185,867 (2023: £91,358) has accrued on this loan at the balance sheet date. This loan is repayable on demand and interest was charged at 2.5% per annum, until 1 July 2023, when the interest rate was increased to 4.5%. The balances are shown within creditors, amounts owed to group undertakings. During the year Liv Projekt charged £160,000 (2023: £130,000) management fees to the company. These are recorded in cost of sales and accruals.

Amounts owed to connected companies includes a balance of £19,410 (2023: £464,200) owed to Sjolander Da Cruz Architects Limited, a business in which the directors have an interest. Included within administrative expenses are rent costs totalling £3,570 (2023: £3,570) paid to Sjolander Da Cruz Architects Limited .

10.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is H2 Projekt AB.