Liveplay Golf Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07872883 (England and Wales)

LIVEPLAY GOLF LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Cade

K F Churchhouse

REGISTERED OFFICE:

63 Station Road

Harpenden

Hertfordshire

AL5 4XF

REGISTERED NUMBER:

07872883 (England and Wales)

FIXED ASSETS

Tangible assets

5

395

1,000

CURRENT ASSETS

Debtors

6

1,137

-

Cash at bank

-

56

1,137

56

CREDITORS

Amounts falling due within one year

7

75,780

70,013

NET CURRENT LIABILITIES

(74,643

)

(69,957

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(74,248

)

(68,957

)

CAPITAL AND RESERVES

Called up share capital

12

12

Share premium

39,996

39,996

Retained earnings

(114,256

)

(108,965

)

SHAREHOLDERS' FUNDS

(74,248

)

(68,957

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 September 2018 and were signed on its behalf by:

C J Cade - Director

1.	STATUTORY INFORMATION

Liveplay Golf Limited is a private company limited by shares, registered in England and Wales. The

company's registered office is 63 Station Road, Harpenden, Hertfordshire, AL5 4XF.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£) which is also the functional currency for the

company.

Going Concern

After reviewing the company's forecasts and projections and taking into account the economic

conditions and possible changes in trading performance, the directors have confirmed that they will

continue to provide financial support to the company and have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The

company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

There are no key judgements and sources of estimation uncertainty that have a significant effect on

the amounts recognised in the financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Property, Plant and Equipment is measured at cost less accumulated depreciation and accumulated

impairment losses.

At each reporting date, property, plant and equipment are reviewed to determine whether there is any

indication that those assets have suffered an impairment loss. If there is an indication of possible

impairment, the recoverable amount of any affected asset is estimated and compared with its carrying

amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated

recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but not in excess of the amount that would have been

determined had no impairment loss been recognised for the asset in prior years. A reversal of

impairment is recognised immediately in profit or loss.

Depreciation has been computed to write off the cost of the property, plant and equipment over their

useful expected lives using the following rates:

Plant and machinery - 33.3% straight line

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the

current or past reporting periods using tax rates that have been enacted or substantively enacted by

the reporting date.

Trade and other debtors

Trade and other debtors are measured at transaction price less any impairment unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of the future receipts discounted at the prevailing market rate of interest.

Trade and other creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at present value of future payments

discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair

value net of their transaction costs. They are subsequently measured at amortised cost using the

effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 1 ).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

1,817

DEPRECIATION

At 1 January 2017

817

Charge for year

605

At 31 December 2017

1,422

NET BOOK VALUE

At 31 December 2017

395

At 31 December 2016

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,137

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

274

-

Trade creditors

-

506

Taxation and social security

-

10

Other creditors

75,506

69,497

75,780

70,013

8.	RELATED PARTY DISCLOSURES

At the year end a balance was due by the company to Mr C J Cade, a director and shareholder, of

£66,626 (2016: £60,797).

At the year end a balance was due by the company to Mr K F Churchhouse, a director and

shareholder, of £8,000 (2016: £8,000).