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Registered number: 13960423
Ls Live Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
SBM London Accountants Limited
Contents
Page
Balance Sheet 1
Statement of Changes in Equity 2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13960423
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,431 2,147
1,431 2,147
CURRENT ASSETS
Debtors 5 17,823 95,594
Cash at bank and in hand 187,964 172,421
205,787 268,015
Creditors: Amounts Falling Due Within One Year 6 (150,625 ) (170,908 )
NET CURRENT ASSETS (LIABILITIES) 55,162 97,107
TOTAL ASSETS LESS CURRENT LIABILITIES 56,593 99,254
NET ASSETS 56,593 99,254
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 56,591 99,252
SHAREHOLDERS' FUNDS 56,593 99,254
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Deborah Gayle
Director
Mr Nicholas Mathius
Director
22/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 1
Page 2
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 2 - 2
Profit for the year and total comprehensive income - 154,252 154,252
Dividends paid - (55,000) (55,000)
As at 31 March 2024 and 1 April 2024 2 99,252 99,254
Profit for the year and total comprehensive income - 37,339 37,339
Dividends paid - (80,000) (80,000)
As at 31 March 2025 2 56,591 56,593
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ls Live Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13960423 . The registered office is 167-169 Great Portlamd Street, 5th Floor, London, W1W 5PF.
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:
Computer Equipment Straight Line @ 25%
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2024 2,862
As at 31 March 2025 2,862
Depreciation
As at 1 April 2024 715
Provided during the period 716
As at 31 March 2025 1,431
Net Book Value
As at 31 March 2025 1,431
As at 1 April 2024 2,147
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 17,823 87,364
Other debtors - 8,230
17,823 95,594
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 52,640 46,503
Other creditors 87,268 44,975
Taxation and social security 10,717 79,430
150,625 170,908
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Miss Deborah Gayle (45,018 ) - - - -
Mr Nicholas Mathius 7,967 - - - -
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling parties are both Mr N Mathius and Miss D Gayle by virtue of their joint ownership of 100% of the issued share capital in the company.
Page 5