Liv and Bell Limited Accounts






Liv and Bell Limited

	Company No. 11713725
		Information for Filing with The Registrar
		31 December 2020

The Director presents his report and the accounts for the year ended 31 December 2020.

Principal activities
The principal activity of the company during the year under review was online retailer.




Director

The Director who served at any time during the year was as follows:

D.A. Seviour





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D.A. Seviour
Director
21 June 2021

at	31 December 2020
Company No.		11713725	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	1,108	-


				1,108	-
Current assets
	Stocks		5	30,882	9,130
	Debtors		6	4,702	2,010

	Cash at bank and in hand			5,559	1,280
				41,143	12,420
Creditors: Amount falling due within one year			7	(20,551)	(13,476)
Net current assets/(liabilities)				20,592	(1,056)
Total assets less current liabilities				21,700	(1,056)
Creditors: Amounts falling due after more than one year			8	(17,500)	-



Net assets/(liabilities)				4,200	(1,056)

Capital and reserves
	Called up share capital			100	1



	Profit and loss account		9	4,100	(1,057)

Total equity				4,200	(1,056)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2020 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 21 June 2021
And signed on its behalf by:
D.A. Seviour
Director
21 June 2021

for the year ended 31 December 2020

General information

Its registered number is: 11713725

Its registered office is:

4 Bradley View

Morley

Leeds

LS27 8TN

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

25% straight line

33.3% on computer equipment

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2020	2019
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation

		Additions	1,225	1,225



		At 31 December 2020	1,225	1,225
		Depreciation

		Charge for the year	117	117



		At 31 December 2020	117	117
		Net book values
		At 31 December 2020	1,108	1,108

5	Stocks
			2020	2019
			£	£


		Finished goods	30,882	9,130
			30,882	9,130

6	Debtors
			2020	2019
			£	£
		Trade debtors	1,934	1,151






		Prepayments and accrued income	2,768	859
			4,702	2,010

7	Creditors:
		amounts falling due within one year
			2020	2019
			£	£

		Bank loans and overdrafts	3,085	839


		Trade creditors	273	180

		Corporation tax	1,446	-
		Other taxes and social security	6,330	-
		Loans from directors	8,666	11,557

		Accruals and deferred income	751	900
			20,551	13,476

8	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	17,500	-






			17,500	-

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.