Liberation Advisory Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07749243 (England and Wales)

LIBERATION ADVISORY LIMITED

Unaudited Financial Statements for the Year Ended 31 August 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Y H Sai

C H Chan

REGISTERED OFFICE:

90 Clapham Common West Side

London

SW4 9AZ

REGISTERED NUMBER:

07749243 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,358

4,323

CURRENT ASSETS

Debtors

5

208,044

8,044

Cash at bank

506,352

458,517

714,396

466,561

CREDITORS

Amounts falling due within one year

6

320,507

16,607

NET CURRENT ASSETS

393,889

449,954

TOTAL ASSETS LESS CURRENT LIABILITIES

396,247

454,277

PROVISIONS FOR LIABILITIES

448

821

NET ASSETS

395,799

453,456

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

395,699

453,356

SHAREHOLDERS' FUNDS

395,799

453,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 May 2024 and were signed on its behalf by:

V Y H Sai - Director

1.	STATUTORY INFORMATION

Liberation Advisory 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.

Computer equipment

-

25% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

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.

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 2 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 September 2022

14,871

Additions

949

At 31 August 2023

15,820

DEPRECIATION

At 1 September 2022

10,548

Charge for year

2,914

At 31 August 2023

13,462

NET BOOK VALUE

At 31 August 2023

2,358

At 31 August 2022

4,323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

200,000

-

Tax

8,044

8,044

208,044

8,044

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Social security and other taxes

8,610

-

Directors' current accounts

119,041

3,083

Accrued expenses

192,856

13,524

320,507

16,607

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

70

Ordinary A

£1

70

100

30

Ordinary B

£1

30

-

100

100