COMPANY REGISTRATION NUMBER:
06420976
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Live Green - Live Good Limited |
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Filleted Unaudited Abridged Financial Statements |
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Live Green - Live Good Limited |
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Abridged Financial Statements |
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Year ended 31 December 2024
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Abridged statement of financial position |
1 |
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Notes to the abridged financial statements |
3 |
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Live Green - Live Good Limited |
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Abridged Statement of Financial Position |
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31 December 2024
Fixed assets
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Tangible assets |
5 |
|
36,658 |
40,826 |
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|
|
|
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Current assets
|
Debtors |
40,713 |
|
21,184 |
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Cash at bank and in hand |
175 |
|
23,380 |
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-------- |
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-------- |
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40,888 |
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44,564 |
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|
|
|
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Creditors: amounts falling due within one year |
68,452 |
|
50,630 |
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-------- |
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-------- |
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Net current liabilities |
|
27,564 |
6,066 |
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-------- |
-------- |
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Total assets less current liabilities |
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9,094 |
34,760 |
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|
|
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Creditors: amounts falling due after more than one year |
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7,372 |
16,012 |
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Provisions
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Taxation including deferred tax |
|
841 |
1,633 |
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------- |
-------- |
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Net assets |
|
881 |
17,115 |
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------- |
-------- |
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Capital and reserves
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Called up share capital |
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2 |
2 |
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Profit and loss account |
|
879 |
17,113 |
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|
---- |
-------- |
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Shareholders funds |
|
881 |
17,115 |
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---- |
-------- |
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 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 abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
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Live Green - Live Good Limited |
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Abridged Statement of Financial Position (continued) |
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31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
19 December 2025
, and are signed on behalf of the board by:
Company registration number:
06420976
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Live Green - Live Good Limited |
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Notes to the Abridged Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 136 Highgate, Kendal, Cumbria, LA9 4HW.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors are satisfied that these accounts continue to be prepared on a going concern basis, given that the company continues to be supported by the directors.
Judgements and key sources of estimation uncertainty
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
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25% reducing balance |
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Fixtures and fittings |
- |
40% reducing balance |
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Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
69,486 |
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Additions |
518 |
|
Disposals |
(
16,123) |
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-------- |
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At 31 December 2024 |
53,881 |
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-------- |
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Depreciation |
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At 1 January 2024 |
28,660 |
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Charge for the year |
2,954 |
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Disposals |
(
14,391) |
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-------- |
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At 31 December 2024 |
17,223 |
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-------- |
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Carrying amount |
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At 31 December 2024 |
36,658 |
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-------- |
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At 31 December 2023 |
40,826 |
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-------- |
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6.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
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£ |
£ |
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Not later than 1 year |
7,320 |
7,980 |
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Later than 1 year and not later than 5 years |
– |
7,980 |
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------- |
-------- |
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7,320 |
15,960 |
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------- |
-------- |
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7.
Directors' advances, credit and guarantees
At the balance sheet date, the directors' loan account was overdrawn by £40,713. (2023: £16,184 overdrawn). Interest has been charged on the loan at HMRC's official rate.