Live & Learn Sports Limited,Ltd - AccountsLtd - Accounts

LIVE & LEARN SPORTS LIMITED - Company Information

Print Friendly Version

Live & Learn Sports Limited

Registered Number:08281880

For the year ended 30 November 2019

England and Wales

Unaudited Financial Statements

For the year ended 30 November 2019

Live & Learn Sports Limited

Contents Page

Statement of Financial Position

2 to 3

Notes to the Financial Statements

Registered Number :

08281880

As at 30 November 2019

Live & Learn Sports Limited

Statement of Financial Position

2018

2019

Notes

Fixed assets

Intangible assets

9,600

10,800

Property, plant and equipment

29,056

30,357

38,656

41,157

Current assets

Trade and other receivables

98,117

92,906

62,320

Cash and cash equivalents

49,610

142,516

160,437

Trade and other payables: amounts falling due within one year

(130,325)

(117,551)

30,112

24,965

Net current assets

Total assets less current liabilities

63,621

71,269

(5,521)

(5,768)

Provisions for liabilities

58,100

Net assets

65,501

Capital and reserves

Called up share capital

Retained earnings

58,069

65,470

58,100

65,501

Shareholders' funds

For the year ended 30 November 2019 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 of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Graham Cooke Director

These financial statements were approved and authorised for issue by the Board on 09 December 2020 and were signed by:

The notes form part of these financial statements

1 of 3

For the year ended 30 November 2019

Live & Learn Sports Limited

Notes to the Financial Statements

Statutory Information

Live & Learn Sports Limited is a private limited company, limited by shares, domiciled in England and Wales, registration

number 08281880.

Registered address:

18a Rother Court

Mangham Road

Parkgate

Rotherham

S62 6DR

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The

financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 15 years.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

15% Reducing balance

33% Reducing balance

Computer equipment

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

2 of 3

For the year ended 30 November 2019

Live & Learn Sports Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Plant and

machinery

Cost or valuation

At 01 December 2018

38,748

4,123

34,625

4,023

Additions

At 30 November 2019

38,648

4,123

42,771

Provision for depreciation and impairment

At 01 December 2018

8,391

3,197

5,194

Charge for year

5,324

306

5,018

At 30 November 2019

13,715

3,503

10,212

At 30 November 2019

Net book value

28,436

620

29,056

At 30 November 2018

29,431

926

30,357

3. Trade and other receivables

2018

2019

Trade debtors

92,906

98,117

4. Trade and other payables: amounts falling due within one year

2018

2019

Trade creditors

3,662

2,955

Taxation and social security

54,047

71,288

Other creditors

59,842

56,082

117,551

130,325

5. Average number of persons employed

During the year the average number of employees was 14 (2018 : 14)

3 of 3