Liv Technology Concepts Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07040077 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

LIV TECHNOLOGY CONCEPTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N M Martins Vitorino

SECRETARY:

N M Martins Vitorino

REGISTERED OFFICE:

Unit 7 The Venture Centre

University Of Warwick Science Park

Sir William Lyons Road

Coventry

CV4 7EZ

REGISTERED NUMBER:

07040077 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Tangible assets

4

1,074

844

CURRENT ASSETS

Debtors

5

22,552

24

Cash at bank and in hand

17,566

17,208

40,118

17,232

CREDITORS

Amounts falling due within one year

6

83,090

147,581

NET CURRENT LIABILITIES

(42,972

)

(130,349

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,898

)

(129,505

)

CREDITORS

Amounts falling due after more than one year

7

14,210

14,210

NET LIABILITIES

(56,108

)

(143,715

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(56,109

)

(143,716

)

(56,108

)

(143,715

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2022 and were signed by:

N M Martins Vitorino - Director

1.	STATUTORY INFORMATION

Liv Technology Concepts 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery etc

-

33% on cost and 20% on cost

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation

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

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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.

Going concern

The financial statements have been prepared on the going concern basis, on the understanding the director and the director's connected companies will support the company whilst the balance sheet shows net liabilities, and have committed to do so for at least 12 months from the date of approval of these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2020

7,399

Additions

797

At 31 August 2021

8,196

DEPRECIATION

At 1 September 2020

6,555

Charge for year

567

At 31 August 2021

7,122

NET BOOK VALUE

At 31 August 2021

1,074

At 31 August 2020

844

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

9,270

24

Other debtors

13,282

-

22,552

24

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

92

-

Trade creditors

37,340

110,489

Taxation and social security

23,147

2,840

Other creditors

22,511

34,252

83,090

147,581

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

14,210

14,210

8.	RELATED PARTY DISCLOSURES

During the year the company had sales of £93,494 (2020: £168,305) and purchases of £419,313 (2020: £18,767) to/from LIVTC Portugal Lda, a related company. At the balance sheet date £46,990 (2020: £130,922) was due to LIVTC Portugal Lda.