Live Manage Facilitate Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10006957 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2022

for

Live Manage Facilitate Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs L M Foran

REGISTERED OFFICE:

210 Price Street

Birkenhead

Wirral

CH41 3PS

REGISTERED NUMBER:

10006957 (England and Wales)

ACCOUNTANTS:

Douglas Fairless Partnership

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Tangible assets

4

376,711

394,750

CURRENT ASSETS

Stocks

3,827,267

1,575,505

Debtors

2,892,279

1,482,068

Cash at bank and in hand

2,304,224

687,939

9,023,770

3,745,512

CREDITORS

Amounts falling due within one year

5,277,921

2,662,342

NET CURRENT ASSETS

3,745,849

1,083,170

TOTAL ASSETS LESS CURRENT LIABILITIES

4,122,560

1,477,920

CREDITORS

Amounts falling due after more than one year

11,833

35,000

PROVISIONS FOR LIABILITIES

71,575

75,003

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

4,029,152

1,357,917

SHAREHOLDERS' FUNDS

4,039,152

1,367,917

4,122,560

1,477,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 February 2023 and were signed by:

Mrs L M Foran - Director

1.	STATUTORY INFORMATION

Live Manage Facilitate 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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and of Value Added Tax. The following criteria must also be met before revenue is recognised.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- The Company has transferred the significant risks and rewards of ownership to the buyer;

- The Company retains neither 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 Company will receive the consideration due under the transaction; and

- The costs incurred or to be incurred in respect of the transaction can be measured reliably

Rendering of Services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

The outcome of a transaction can be estimated reliably when all the following conditions are met:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration under the contract;

- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Hire purchase and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2021 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2021

441,583

Additions

97,381

At 30 November 2022

538,964

DEPRECIATION

At 1 December 2021

46,833

Charge for year

115,420

At 30 November 2022

162,253

NET BOOK VALUE

At 30 November 2022

376,711

At 30 November 2021

394,750

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.11.22

30.11.21

£

£

Net obligations repayable:

Within one year

23,680

23,680

Between one and five years

11,833

35,000

35,513

58,680

Non-cancellable operating

leases

30.11.22

30.11.21

£

£

Within one year

36,000

-

Between one and five years

144,000

-

In more than five years

54,000

-

234,000

-

6.	RELATED PARTY DISCLOSURES

During the year the company paid a dividend of £300,000 (2021 £NIL) to LMF Holdco Limited , a company owned by the director.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is LMF Holdco Limited CRN 13179702.