Livan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03318444 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

LIVAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N Gordon

REGISTERED OFFICE:

Sundial House

98 High Street

Horsell Woking

Surrey

GU21 4SU

REGISTERED NUMBER:

03318444 (England and Wales)

ACCOUNTANTS:

Hamlyns LLP

Chartered Accountants

Sundial House

High Street

Horsell

Woking

Surrey

GU21 4SU

FIXED ASSETS

Tangible assets

4

220

372

CURRENT ASSETS

Debtors

5

330,084

313,592

Cash at bank

182,984

83,742

513,068

397,334

CREDITORS

Amounts falling due within one year

6

456,328

326,013

NET CURRENT ASSETS

56,740

71,321

TOTAL ASSETS LESS CURRENT LIABILITIES

56,960

71,693

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

56,950

71,683

SHAREHOLDERS' FUNDS

56,960

71,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2020 and were signed by:

N Gordon - Director

1.	STATUTORY INFORMATION

Livan Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	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.

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.

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, 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.

Foreign currencies

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 of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2019

and 31 December 2019

9,760

DEPRECIATION

At 1 January 2019

9,388

Charge for year

152

At 31 December 2019

9,540

NET BOOK VALUE

At 31 December 2019

220

At 31 December 2018

372

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

330,021

313,474

Other debtors

63

118

330,084

313,592

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

450,044

311,354

Taxation and social security

4,944

13,349

Other creditors

1,340

1,310

456,328

326,013

7.	ULTIMATE CONTROLLING PARTY

Mr N Gordon is the ultimate controlling party by virtue of his controlling share interest.