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Registration number: 05823800

Jim Livesey & Associates Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 May 2025

Pages for filing with Registrar

Jim Livesey & Associates Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 8

Jim Livesey & Associates Limited

Company Information

Directors | Mr J D Livesey Mrs M H Livesey

Company secretary | Mrs M H Livesey

Registered office | 23 Meadowside Avenue Clayton le Moors Accrington BB5 5XF

Jim Livesey & Associates Limited

(Registration number: 05823800)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,286 | 1,213
Current assets |  |  |
Debtors | 5 | 1,390 | 1,360
Cash at bank and in hand |  | 64,528 | 138,785
|  | 65,918 | 140,145
Creditors: Amounts falling due within one year | 6 | (25,562) | (52,465)
Net current assets |  | 40,356 | 87,680
Total assets less current liabilities |  | 41,642 | 88,893
Provisions for liabilities |  | (244) | (303)
Net assets |  | 41,398 | 88,590
Capital and reserves |  |  |
Called up share capital |  | 10 | 10
Retained earnings |  | 41,388 | 88,580
Shareholders' funds |  | 41,398 | 88,590

Jim Livesey & Associates Limited

(Registration number: 05823800)
Balance Sheet as at 31 May 2025 (continued)

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:

......................................... Mr J D Livesey Director

Jim Livesey & Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
23 Meadowside Avenue
Clayton le Moors
Accrington
BB5 5XF

These financial statements were authorised for issue by the Board on 9 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A for small entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
(a) The amount of revenue can be reliably measured;
(b) it is probable that future economic benefits will flow to the entity; and
(c) specific criteria have been met for each of the company's activities.

Jim Livesey & Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 15% reducing balance
Computer equipment | 33% straight line

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Jim Livesey & Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

2 | Accounting policies (continued)

Financial instruments

Classification
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 statement of financial position 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 liability simultaneously.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Jim Livesey & Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

4 | Tangible assets

| Computer & Office Equipment £ | Total £
Cost or valuation
At 1 June 2024 | 5,325 | 5,325
Additions | 635 | 635
At 31 May 2025 | 5,960 | 5,960
Depreciation
At 1 June 2024 | 4,112 | 4,112
Charge for the year | 562 | 562
At 31 May 2025 | 4,674 | 4,674
Carrying amount
At 31 May 2025 | 1,286 | 1,286
At 31 May 2024 | 1,213 | 1,213

5 | Debtors

Current | 2025 £ | 2024 £
Prepayments | 1,197 | 1,360
Other debtors | 193 | -
| 1,390 | 1,360

Jim Livesey & Associates Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Trade creditors |  | 193 | 530
Other taxation and social security |  | 2,504 | 28,707
Other payables |  | 22,865 | 22,599
Accruals and deferred income |  | - | 629
|  | 25,562 | 52,465