General Information
Live Captioning UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 09476787, registration address 7 Lon Yr Awel, Pontyclun, Rhondda Cynon Taff, CF72 9AX.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
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 taxable income.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Dividend distribution to the companys shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and machinery etc |
20% straight line |
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
32,642 |
|
32,642 |
| Additions |
1,105 |
|
1,105 |
| Disposals |
- |
|
- |
| At 31 March 2025 |
33,747 |
|
33,747 |
| Depreciation |
| At 01 April 2024 |
25,250 |
|
25,250 |
| Charge for year |
2,744 |
|
2,744 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
27,994 |
|
27,994 |
| Net book values |
| Closing balance as at 31 March 2025 |
5,753 |
|
5,753 |
| Opening balance as at 01 April 2024 |
7,392 |
|
7,392 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
9,265 |
|
11,146 |
| Other Debtors |
223 |
|
238 |
|
9,488 |
|
11,384 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
1,291 |
|
1,837 |
| Taxation and Social Security |
11,989 |
|
12,241 |
| Other Creditors |
1,153 |
|
898 |
|
14,433 |
|
14,976 |
|
| 6. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
1,404 |
|
911 |
| Charged to Profit & Loss |
(311) |
|
494 |
|
1,093 |
|
1,405 |
|
2
|