Company registration number 15067268 (England and Wales)
LIVING PLACES EARTH LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LIVING PLACES EARTH LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
LIVING PLACES EARTH LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,919
1,115
Current assets
Debtors
5
342,639
195,386
Cash at bank and in hand
75,056
151,419
417,695
346,805
Creditors: amounts falling due within one year
6
(243,613)
(184,940)
Net current assets
174,082
161,865
Total assets less current liabilities
178,001
162,980
Creditors: amounts falling due after more than one year
7
(214,451)
(246,711)
Net liabilities
(36,450)
(83,731)
Reserves
Income and expenditure account
(36,450)
(83,731)
Total members' funds
(36,450)
(83,731)

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 November 2025 and are signed on its behalf by:
Rufus Grantham
Director
Company registration number 15067268 (England and Wales)
LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Living Places Earth Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Oaks, 3 Village Road, West Kirby, Merseyside, CH48 3JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 March 2025 are the first financial statements of Living Places Earth Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 13 August 2023. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 10.

1.2
Prior period error

The period ended 31 March 2024 financial statements have been restated. The prior period adjustments relate to the understatement of consulting revenue by £149,355 and associated costs of £57,696 also being omitted from the prior period accounts. These amounts have been restated in the comparative period.

A reconciliation of how these adjustments ha ve affected the reported financial position for the prior period is given in note 11.

1.3
Going concern

These financial statements have been prepared on a going concern basis. The directors acknowledge that the company’s ability to continue as a going concern is dependent upon securing sufficient future contracts to generate adequate cash flows or, alternatively, undertaking appropriate cost management actions to ensure that the company is able to meet its liabilities as they fall due. The company’s cash flow position and financial performance are monitored on a regular basis, enabling the directors to act promptly should cash resources become constrained. Having considered these factors, the directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future and, therefore, consider the going concern basis of preparation to be appropriate.

1.4
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
7
LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
1,153
Additions
3,991
Disposals
(199)
At 31 March 2025
4,945
Depreciation and impairment
At 1 April 2024
38
Depreciation charged in the year
1,015
Eliminated in respect of disposals
(27)
At 31 March 2025
1,026
Carrying amount
At 31 March 2025
3,919
At 31 March 2024
1,115
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,846
22,499
Other debtors
312,945
153,023
333,791
175,522
Deferred tax asset
8,848
19,864
342,639
195,386
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,956
2,670
Taxation and social security
49,914
42,128
Income in advance
-
0
3,125
Other creditors
188,743
137,017
243,613
184,940

Other creditors due within a year include the current instalments of a social investment loan of £39,883 (2024: £3,914), which is secured by way of a floating charge over the assets of the company.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
214,451
246,711

The company has a social investment loan of £254,334 outstanding (2024: £250,625), which is secured by way of a floating charge over the assets of the company.

Of the total loan balance, £214,451 (2024: £246,711) is due in more than a year from the balance sheet date.

8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its surplus for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Suzanne Draper FCCA ACA
Statutory Auditor:
SB&P
Date of audit report:
10 November 2025
10
Reconciliations on adoption of FRS 102

Reconciliations and descriptions of the effect of the transition to FRS 102 on; (i) equity at the date of transition to FRS 102; (ii) equity at the end of the comparative period; and (iii) profit or loss for the comparative period reported under previous UK GAAP are given below.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Reconciliations on adoption of FRS 102
(Continued)
- 8 -
Reconciliation of equity
13 August
31 March
2023
2024
Notes
£
£
Equity as reported under previous UK GAAP
-
(195,254)
Adjustments to prior year (note 11)
-
91,659
As restated
-
(103,595)
Adjustments arising from transition to FRS 102:
Deferred tax asset
-
19,864
Equity reported under FRS 102
-
(83,731)
Reconciliation of deficit for the financial period
2024
Notes
£
Deficit as reported under previous UK GAAP
(195,254)
Adjustments to prior year (note 11)
91,659
As restated
(103,595)
Adjustments arising from transition to FRS 102:
Deferred tax asset
19,864
Deficit reported under FRS 102
(83,731)
Notes to reconciliations on adoption of FRS 102
11
Prior period adjustment

Reconciliations and descriptions of the effect of prior period adjustments on; (i) equity at the date of transition to FRS 102; (ii) equity at the end of the comparative period; and (iii) profit or loss for the comparative period reported under previous UK GAAP are given below.

The prior period adjustments relate to the understatement of consulting revenue by £149,355 in the prior period ended 31 March 2024, and associated costs of £57,696 also being omitted from the prior period accounts. These amounts have been restated in the comparative period.

LIVING PLACES EARTH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11
Prior period adjustment
(Continued)
- 9 -
Reconciliation of changes in equity
13 August
31 March
2023
2024
£
£
Adjustments to prior year
Accrued consulting revenue
-
149,355
Accrued consulting subcontract costs
-
(57,696)
Total adjustments
-
91,659
Equity as previously reported
-
(195,254)
Equity as adjusted before transition adjustments
-
(103,595)
Analysis of the effect upon equity
Profit and loss reserves
-
91,659
Reconciliation of changes in deficit for the previous financial period
2024
£
Adjustments to prior year
Accrued consulting revenue
149,355
Accrued consulting subcontract costs
(57,696)
Total adjustments
91,659
Deficit as previously reported
(195,254)
Deficit as adjusted before transition adjustments
(103,595)
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