Registration number:
for the
Year Ended 31 March 2026
LivGreen Futures Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
LivGreen Futures Limited
Company Information
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Directors |
C S Herbert H D Melvin R D Melvin T H Melvin |
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Registered office |
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Auditors |
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LivGreen Futures Limited
Strategic Report for the Year Ended 31 March 2026
The Directors present their strategic report for the year ended 31 March 2026.
Principal activity
The principal activity of the Company is the provision of decarbonisation and energy-efficiency retrofit services.
Fair review of the business
During the year, LivGreen Futures Limited continued to strengthen its position as a leading specialist in decarbonisation and energy-efficiency retrofit services, delivering projects across social housing and public sector estates.
Revenue increased by 76% from £17.2 million to £30.4 million, representing another year of significant growth. This performance reflects increasing demand for retrofit and low-carbon solutions, continued growth with existing and new clients, and the Company's ability to deliver complex programmes successfully at scale.
The business has further strengthened its market position through long-term framework agreements with multiple housing associations and public sector clients. These relationships provide good visibility over the future pipeline and support the Company's strategy of continued, sustainable growth across the UK.
Profitability remained strong, with operating profit margin at 21% of turnover and gross profit margin at 32.6%. This reflects continued improvements in procurement, commercial management and project delivery.
Alongside this growth, the Company has continued to invest in its people, management capability, systems and operational infrastructure, providing a scalable platform for the next stage of its development.
The Board remains confident in the Company's outlook. With an established client base, strong pipeline and continued demand for the decarbonisation of UK housing, the Directors expect the Company to deliver further growth in the coming year while maintaining its focus on quality, profitability and sustainable long-term development.
The Company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2026 |
2025 |
|
Turnover |
£ |
30,358,222 |
17,226,011 |
|
Gross profit |
£ |
9,901,782 |
5,394,452 |
|
Gross profit margin |
% |
32.6 |
31.3 |
|
Net assets |
£ |
5,673,799 |
920,939 |
Principal risks and uncertainties
The Board continually monitors the principal risks and uncertainties facing the Company and seeks to ensure that appropriate controls and mitigation strategies are in place. As a business operating within the retrofit, energy-efficiency and decarbonisation sector, the Company is exposed to a range of operational, financial and regulatory risks. The Directors believe that the following represent the principal risks currently facing the business.
Regulatory and Policy Risk
The Company's market is influenced by government policy, funding programmes, housing investment priorities and environmental regulations supporting the decarbonisation and improvement of UK housing stock. Changes to funding availability, procurement frameworks, building regulations or compliance requirements could affect the level and timing of future work.
To mitigate this risk, the Directors maintain close engagement with housing associations, framework providers, industry bodies and funding stakeholders. The Company actively monitors regulatory developments and invests in maintaining the accreditations, systems and expertise required to comply with evolving industry standards.
Supply Chain and Labour Availability
The delivery of retrofit projects depends on the availability of skilled labour, specialist subcontractors and key materials. Shortages, inflationary pressures or disruption within the supply chain could affect project delivery timescales, costs and profitability. The Company mitigates this risk by developing long-term relationships with suppliers and delivery partners, maintaining an approved supply chain, undertaking forward procurement where appropriate and regularly reviewing resource requirements. The Directors also focus on workforce development and retention to ensure sufficient operational capacity as the business grows.
LivGreen Futures Limited
Strategic Report for the Year Ended 31 March 2026
Approved by the
Director
LivGreen Futures Limited
Directors' Report for the Year Ended 31 March 2026
The Directors present their report and the financial statements for the year ended 31 March 2026.
Directors of the Company
The Directors who held office during the year were as follows:
Going concern
The Company has reported a net profit of £4,752,860 (2025 - £1,492,446) for the year ended 31 March 2026 and as at 31 March 2026 has net assets of £5,673,799 (2025 - £920,939), with access to cash reserves of £2,810,188 (2025 - £250,891).
Based on the forecasts prepared and the funds available, the Directors believe that the Company is well placed to manage its financing and other business risks satisfactorily, and have reasonable expectation that the Company will have adequate resources to continue in operation for at least 12 months from the signing date of these financial statements. The Directors therefore consider it appropriate to adopt the going concern basis in preparing the financial statements.
Financial instruments
Objectives and policies
The Company's financial instruments comprise cash and liquid resources, and various other items such as trade debtors, trade creditors, etc that arise directly from its operations. The main purpose of these financial instruments is to finance the operations of the Company.
Price risk, credit risk, liquidity risk and cash flow risk
Liquidity risk
The Company's principal liquidity risk is to ensure that it has sufficient liquid resources to meet its operatonal requirements, Liquidity is closely monitored. The Company's primary source of liquid resources are its bankers.
Credit risk
The Company offers credit to certain of its customers. Before credit terms are agreed, an assessment of the customer's credit rating is undertaken to ensure that the customer does not represent a major credit risk to the Company. Credit limits are set accordingly.
Price risk
Through careful monitoring of the Company's market place and competitors the Company's exposure to price risk is kept to a minimum.
Cash flow risk
The Company is exposed to cash flow risk arising from a timing mismatch between cash inflows from customers and cash outflows required to meet operating expenses and capital commitments. The Directors manage cash flow risk by preparing regular cash flow forecasts and maintaining access to adequate banking facilities.
Disclosure of information to the auditors
Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
LivGreen Futures Limited
Directors' Report for the Year Ended 31 March 2026
Approved by the
Director
LivGreen Futures Limited
Statement of Directors' Responsibilities
The Directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
LivGreen Futures Limited
Independent Auditor's Report to the Members of LivGreen Futures Limited
Opinion
We have audited the financial statements of LivGreen Futures Limited (the 'Company') for the year ended 31 March 2026, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
Other information
The Directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
LivGreen Futures Limited
Independent Auditor's Report to the Members of LivGreen Futures Limited
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of Directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the Company’s industry and its control environment and reviewed the Company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the Company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits conducted in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
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• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; and |
LivGreen Futures Limited
Independent Auditor's Report to the Members of LivGreen Futures Limited
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enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of this report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Staverton Court
Staverton
GL51 0UX
LivGreen Futures Limited
Profit and Loss Account for the Year Ended 31 March 2026
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Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
6,388,836 |
2,046,236 |
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The Company has no other comprehensive income for the year.
LivGreen Futures Limited
(Registration number: 13868463)
Balance Sheet as at 31 March 2026
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Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Deferred tax |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
10 |
10 |
|
|
Profit and loss account |
5,673,789 |
920,929 |
|
|
Shareholders' funds |
5,673,799 |
920,939 |
Approved and authorised by the
Director
LivGreen Futures Limited
Statement of Changes in Equity for the Year Ended 31 March 2026
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2025 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 March 2026 |
|
|
|
|
Share capital |
Profit and loss account |
Total |
|
|
At 1 April 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 March 2025 |
10 |
920,929 |
920,939 |
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
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General information |
The Company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
LivGreen Futures Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its financial statements. Exemptions have been taken in relation to financial instruments and presentation of a cash flow statement.
Name of parent of group
These financial statements are consolidated in the financial statements of LivGreen Futures Holdings Limited.
The financial statements of LivGreen Futures Holdings Limited may be obtained from Companies House.
Going concern
The Company has reported a net profit of £4,752,860 (2025 - £1,492,446) for the year ended 31 March 2026 and as at 31 March 2026 has net assets of £5,673,799 (2025 - £920,939), with access to cash reserves of £2,810,188 (2025 - £250,891).
Based on the forecasts prepared and the funds available, the Directors believe that the Company is well placed to manage its financing and other business risks satisfactorily, and have reasonable expectation that the Company will have adequate resources to continue in operation for at least 12 months from the signing date of these financial statements. The Directors therefore consider it appropriate to adopt the going concern basis in preparing the financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Judgements
The Directors exercise judgement in determining whether performance obligations under customer contracts are satisfied over time and whether the output method based on work certified provides a faithful measure of progress towards completion. In making this assessment, consideration is given to the contractual terms, the nature of the works performed and the extent to which certified work reflects the transfer of control of services to customers. |
Key sources of estimation uncertainty
Revenue from long-term contracts is recognised by reference to the stage of completion determined using the value of work certified at the reporting date. Management is required to estimate the total contract value and assess the recoverability of uncertified work completed. Changes in these estimates may affect the timing and amount of revenue recognised.
The assessment of forecast costs required to complete contracts involves estimates of labour, subcontractor, material and overhead costs. These estimates are reviewed regularly as contracts progress and are revised where necessary. Any resulting adjustments are recognised in the period in which the estimates are revised.
Revenue recognition
Revenue comprises the fair value of consideration receivable for the provision of retrofit, decarbonisation, construction and related services, net of value added tax and trade discounts.
Revenue from contracts with customers is recognised when the Company's performance obligations are satisfied and control of the goods or services is transferred to the customer.
The stage of completion is measured using an output method, based on the value of work certified to date as a proportion of the total expected contract value. Management considers work certified to provide a reliable measure of progress towards complete satisfaction of the performance obligation, as certification reflects work performed and accepted by the customer.
Revenue recognised for each accounting period represents the value of work certified during the period together with any appropriate estimate of uncertified work completed at the reporting date, to the extent that its recovery is considered probable and the amount can be measured reliably.
When the outcome of a contract can be estimated reliably, revenue and attributable contract costs are recognised by reference to the stage of completion at the reporting date. The foreseeable full amount of any expected contract loss is recognised immediately as an expense.
Contract assets are included within debtors. Amounts billed to customers in excess of revenue recognised are included within creditors as contract liabilities.
The Company reviews contract performance expected costs to complete and amounts recoverable on an ongoing basis and revises estimates where necessary. Any revisions to contract estimates are recognised in the period in which the circumstances giving rise to the revision become known.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
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 |
|
Leasehold improvements |
5 years straight line |
|
Office equipment |
4 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the debtors.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
Defined contribution pension obligation
The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme are charged to profit or loss in the period to which they relate.
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the Company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value h
|
Turnover |
The analysis of the Company's turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Rendering of services |
|
|
The total turnover of the Company has been derived from its principal activity wholly undertaken in the United Kingdom.
|
Operating profit |
Arrived at after charging
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest expense on other finance liabilities |
|
- |
|
Other interest payable |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including Directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the Company (including Directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Directors |
|
|
|
Direct labour |
|
|
|
Direct management |
|
|
|
Back office |
|
|
|
|
|
A prior period adjustment has been processed to aid comparative of gross profits, reclassifying £1,699,756 of payroll costs to cost of sales, which were previously recognised within administrative expenses.
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Directors' remuneration |
The Directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
|
|
The Company has taken advantage of the exemption not to disclose amounts in respect of non-audit services as these are required to be disclosed in the consolidated financial statements of the parent company, LivGreen Futures Holdings Ltd.
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the profit and loss account |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2025 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
- |
|
Effect of expense not deductible in determining taxable profit |
|
|
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
|
2026 |
Liability |
|
Fixed asset timing differences |
( |
|
Short term timing differences |
|
|
( |
|
2025 |
Liability |
|
Fixed asset timing differences |
( |
|
( |
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Tangible assets |
|
Leasehold improvements |
Office equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 April 2025 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
( |
- |
( |
|
At 31 March 2026 |
|
|
|
|
Depreciation |
|||
|
At 1 April 2025 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
( |
- |
( |
|
At 31 March 2026 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2026 |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Debtors |
|
Note |
2026 |
2025 |
|
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Contract assets |
|
|
|
|
|
|
|
Creditors |
|
2026 |
2025 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
|
|
|
Other payables |
|
|
|
Accruals |
|
|
|
Corporation tax liability |
1,598,768 |
47,393 |
|
Deferred income |
|
|
|
|
|
Amounts due to group undertakings are unsecured, interest free and repayable on demand.
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Pension and other schemes |
Defined contribution pension scheme
The Company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Company to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
7 |
|
7 |
|
|
|
3 |
|
3 |
|
|
|
|
|
|
The shares rank pari passu in all respects except that dividends can be declared at different rates on each class of share.
|
Reserves |
Called up share capital
Share capital represents the issued share capital of the Company.
Profit and loss account
The profit and loss account represents the cumulative profits or losses, net of dividends paid and other adjustments.
|
Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
|
2026 |
2025 |
|
|
Dividends paid |
- |
3,184,000 |
LivGreen Futures Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Related party transactions |
|
Transactions with Directors |
|
2026 |
At 1 April 2025 |
Advances to Director |
Repayments by Director |
At 31 March 2026 |
|
Directors |
1,230 |
10,869 |
(11,229) |
870 |
Amounts due from the Directors are unsecured, interest free and repayable on demand.
|
Parent and ultimate parent undertaking |
The Company's immediate and ultimate parent is
The most senior parent entity producing publicly available financial statements is LivGreen Futures Holdings Ltd