ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302The pricincipal activities of the company is software development and technical consulting.2022-05-01false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13033019 2022-04-30 13033019 2022-05-01 2023-04-30 13033019 2021-12-01 2022-11-30 13033019 2023-04-30 13033019 2022-11-30 13033019 c:Director1 2022-05-01 2023-04-30 13033019 d:ComputerEquipment 2022-05-01 2023-04-30 13033019 d:ComputerEquipment 2023-04-30 13033019 d:ComputerEquipment 2022-11-30 13033019 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 13033019 d:ComputerSoftware 2023-04-30 13033019 d:ComputerSoftware 2022-11-30 13033019 d:CurrentFinancialInstruments 2023-04-30 13033019 d:CurrentFinancialInstruments 2022-11-30 13033019 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13033019 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13033019 d:ShareCapital 2023-04-30 13033019 d:ShareCapital 2022-11-30 13033019 d:RetainedEarningsAccumulatedLosses 2023-04-30 13033019 d:RetainedEarningsAccumulatedLosses 2022-11-30 13033019 c:OrdinaryShareClass1 2022-05-01 2023-04-30 13033019 c:OrdinaryShareClass1 2023-04-30 13033019 c:OrdinaryShareClass1 2022-11-30 13033019 c:FRS102 2022-05-01 2023-04-30 13033019 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13033019 c:FullAccounts 2022-05-01 2023-04-30 13033019 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13033019 d:WithinOneYear 2023-04-30 13033019 d:WithinOneYear 2022-11-30 13033019 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13033019

LIVLET LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023


LIVLET LTD

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


LIVLET LTD REGISTERED NUMBER:13033019

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2023

		2023		2022
Note		£		£

Fixed assets
Intangible assets	4		909,017		857,338
Tangible assets	5		4,313		5,220
			913,330		862,558
Current assets
Debtors: amounts falling due within one year	6	38,551		150,372
Cash at bank and in hand		120,089		140,895
Current liabilities		158,640		291,267
Creditors: amounts falling due within one year	7	(1,299,942)		(1,306,257)
Net current liabilities			(1,141,302)		(1,014,990)
Total assets less current liabilities			(227,972)		(152,432)

Net liabilities			(227,972)		(152,432)

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		(227,973)	(152,433)
		(227,972)	(152,432)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1


LIVLET LTD REGISTERED NUMBER:13033019

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 APRIL 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 June 2023.

D Klyachko

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


LIVLET LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023

1.	General information

Livlet Limited is a private limited liability company registered in England and Wales. Its registered office is at 20-22 Wenlock Road, London, N1 7GU.
The principal activity of the company during the period was that of the development and supply of home management systems.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company made a loss for the year and at the reporting date has net current liabilities and net liabilities. The director has confirmed that she has the ability and will financially support the company so that it will be able to meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. Therefore the accounts have been prepared under the going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.4

Operating leases: the Company as lessee

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

Page 3


LIVLET LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

2.5

Pensions

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Basic Financial Instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.

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LIVLET LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

2.9

Basic Financial Instruments (continued)

Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 3).

4.	Intangible assets

		Computer software development costs
		£
	Cost
	At 1 May 2022	857,338
	Additions	51,679
	At 30 April 2023	909,017

	Net book value
	At 30 April 2023	909,017

No amortisation costs have been recognised in the period as the software is still in development and is not yet available for use.

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LIVLET LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 May 2022	6,528
	At 30 April 2023	6,528
	Depreciation
	At 1 May 2022	1,308
	Charge for the period on owned assets	907
	At 30 April 2023	2,215
	Net book value
	At 30 April 2023	4,313

Debtors

					2023	2022
					£	£


Other debtors	38,551	144,807
Prepayments and accrued income	-	5,565
	38,551	150,372

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	38,695	36,346
Other creditors	1,254,427	1,254,112
Accruals and deferred income	6,820	15,799
	1,299,942	1,306,257

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LIVLET LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2023

8.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

1 (2022 - 1) Ordinary share of £1	1	1

9.	Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £330 (2022 - £1,981). There were £34 (2022 - £514) contributions payable to the fund at the reporting date.

	Not later than 1 year	-	12,970
		-	12,970

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