REGISTERED NUMBER: 09479390 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Live & Let Buy Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Garofalo

L Cooper

REGISTERED OFFICE:

19 Prout Grove

Neasden

London

NW10 1PU

REGISTERED NUMBER:

09479390 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Wynyard Business Park

Wynyard Avenue

Billingham

Cleveland

TS22 5TB

Fixed assets

Tangible assets

3

187

250

Investment property

4

345,000

279,568

345,187

279,818

Current assets

Debtors

5

1,610

-

Cash at bank

1,476

3,362

3,086

3,362

Creditors

Amounts falling due within one year

6

(86,428

)

(79,512

)

Net current liabilities

(83,342

)

(76,150

)

Total assets less current liabilities

261,845

203,668

Creditors

Amounts falling due after more than one year

7

(273,888

)

(264,549

)

Provisions for liabilities

(12,432

)

-

Net liabilities

(24,475

)

(60,881

)

Capital and reserves

Called up share capital

10

10

Retained earnings

9

(24,485

)

(60,891

)

(24,475

)

(60,881

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

G Garofalo - Director

1.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared on the going concern basis due to the loan facility provided by Shawbrook Bank Limited.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Investment Property - No depreciation

Fixtures and fittings - 25% on reducing balance

Computer equipment - 33% on cost

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

GOING CONCERN NOTE

The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s directors and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

2,493

1,292

3,785

DEPRECIATION

At 1 April 2024

2,244

1,291

3,535

Charge for year

62

1

63

At 31 March 2025

2,306

1,292

3,598

NET BOOK VALUE

At 31 March 2025

187

-

187

At 31 March 2024

249

1

250

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

279,568

Revaluations

65,432

At 31 March 2025

345,000

NET BOOK VALUE

At 31 March 2025

345,000

At 31 March 2024

279,568

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

65,432

Cost

279,568

345,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments and accrued income

137

-

Accruals

1,473

-

1,610

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

660

800

Directors' current accounts

85,043

78,052

Accrued expenses

725

660

86,428

79,512

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans more 5 yrs non-inst

273,888

264,549

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

273,888

264,549

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

273,888

264,549

The loans are secured with a floating charge on the properties within the company

9.

RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.