Liab Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07434465 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

LIAB SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J R Manion

Mrs K A Manion

REGISTERED OFFICE:

52 Alexandra Park Road

Muswell Hill

London

N10 2AD

REGISTERED NUMBER:

07434465 (England and Wales)

ACCOUNTANTS:

AC Partners LLP

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Tangible assets

4

1,800

2,883

CURRENT ASSETS

Debtors

5

33,429

3,852

Cash at bank

1,319

605

34,748

4,457

CREDITORS

Amounts falling due within one year

6

64,496

109,714

NET CURRENT LIABILITIES

(29,748

)

(105,257

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,948

)

(102,374

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(28,948

)

(103,374

)

SHAREHOLDERS' FUNDS

(27,948

)

(102,374

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 on 14 April 2020 and were signed on its behalf by:

Mr J R Manion - Director

1.	STATUTORY INFORMATION

Liab Solutions 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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have

adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER

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

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

-

25% on reducing balance.

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 December 2018

and 30 November 2019

6,185

2,168

8,353

DEPRECIATION

At 1 December 2018

4,747

723

5,470

Charge for year

360

723

1,083

At 30 November 2019

5,107

1,446

6,553

NET BOOK VALUE

At 30 November 2019

1,078

722

1,800

At 30 November 2018

1,438

1,445

2,883

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

32,946

3,731

Other debtors

483

121

33,429

3,852

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

25,000

94,188

Other creditors

39,496

15,526

64,496

109,714

7.	ULTIMATE CONTROLLING PARTY