IO-Live Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

IO-Live Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07528240 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Straight Line
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Computer Equipment	25% Straight Line

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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IO-Live Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Investments

Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	2	2

	2	2

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	20,633
Additions	32,658

As at 31 March 2025	53,291

Depreciation
As at 1 April 2024	9,303
Provided during the period	3,447

As at 31 March 2025	12,750

Net Book Value
As at 31 March 2025	40,541

As at 1 April 2024	11,330

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	25,000

As at 31 March 2025	25,000

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	25,000

As at 1 April 2024	25,000

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IO-Live Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	58,656	43,919
Other debtors	25,802	13,300

	84,458	57,219

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	4,335	4,228
Corporation tax	23,460	22,689
Other taxes and social security	9,977	10,041
Accruals and deferred income	1,950	1,233
Directors' loan accounts	186	901

	39,908	39,092

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	16,348	20,785

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	-		2,778

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
75 Ordinary A shares of £ 1.000 each	75	75
25 Ordinary B shares of £ 1.000 each	25	25

	100	100

10. Related Party Transactions

Above and Beyond Partners LLP

The company director, Mr Thomas Rees, has a signifcant interest in Above and Beyond Partners LLP

During the year the company supplied services amounting to £149,650 to Above and Beyond Partners LLP. At the year end the amount owed to the company amounted to £58,500 (2024: £40,644).

Aeroava Displays Ltd

Subsidiary of Aeroava Ltd in which the director has a significant interest

During the year the company supplied services amounting to £1,700 to Aeroava Displays Ltd.

Aeroava Limited

The company director, Mr Thomas Rees, has a signifcant interest in Aeroava Limited

The compnay has an equity investment in Aeroava Limited and has provided funds to that company on an unsecured, interest free basis. At the year end the company was owed £25,100 by Aeroava Limited (2024: £13,100)

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IO-Live Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

The directors

Directors and Shareholders

During the year the directors had an unsecured, interest free loan with the company which was repayable on demand. The amount owed to the directors at 31 March 2025 amounted to £186 (2024: £901)

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		40,541		11,330
Investments	5		25,000		25,000

			65,541		36,330
CURRENT ASSETS
Debtors	6	84,458		57,219
Cash at bank and in hand		25,121		43,253

		109,579		100,472
Creditors: Amounts Falling Due Within One Year	7	(39,908 )		(39,092 )

NET CURRENT ASSETS (LIABILITIES)			69,671		61,380

TOTAL ASSETS LESS CURRENT LIABILITIES			135,212		97,710

Creditors: Amounts Falling Due After More Than One Year	8		(16,348 )		(20,785 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(11,328 )		(2,833 )

NET ASSETS			107,536		74,092

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			107,436		73,992

SHAREHOLDERS' FUNDS			107,536		74,092