REGISTERED NUMBER: 09209224 (England and Wales)

Livia's Health Foods Limited

Unaudited Financial Statements for the Year Ended 30 September 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

O N Wollenberg

REGISTERED OFFICE:

25 Lonsdale Road

London

NW6 6RA

REGISTERED NUMBER:

09209224 (England and Wales)

FIXED ASSETS

Tangible assets

4

27,932

13,294

CURRENT ASSETS

Debtors

5

423,756

106,595

Cash at bank

325,401

409

749,157

107,004

CREDITORS

Amounts falling due within one year

6

(314,958

)

(419,033

)

NET CURRENT ASSETS/(LIABILITIES)

434,199

(312,029

)

TOTAL ASSETS LESS CURRENT LIABILITIES

462,131

(298,735

)

CAPITAL AND RESERVES

Called up share capital

779

625

Share premium

1,254,494

59,875

Retained earnings

(793,142

)

(359,235

)

462,131

(298,735

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 14 May 2019 and were signed by:

O N Wollenberg - Director

1.	STATUTORY INFORMATION

Livia's Health Foods Limited is a private company, limited by shares and 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

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

Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements is

sterling. All amounts in the financial statements have been rounded to the nearest £1.

Going concern

The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or

support will be more than adequate for the company's needs. In assessing going concern, the director has a reasonable expectation that the

company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date

of approval of these financial statements.

Turnover

Revenue is recognised to the extent that it is probable economic benefits will flow to the company and the revenue can be reliably measured.

Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other

sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have passed to the buyer,

usually on delivery of the goods and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from

a contract to provide services is recognised in the period in which the services are provided.

Interest receivable and payable

Interest income and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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 to profit or loss over the estimated useful economic lives, as follows -

- Computer equipment - Over 3 years on a straight line basis.

- Office equipment - Over 4 years on a straight line basis.

- Leasehold improvements - Over the life of the lease.

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.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

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

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount

of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised

immediately as an expense within the profit or loss.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are

recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised

cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing

transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments

discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of

impairment, If objective evidence of impairment is found an impairment loss is recognised within profit and loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying

amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment the impairment loss is measured as the difference between the asset's carrying amount

and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date.

Current and deferred taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in profit or loss except to the extent that it relates

to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other

comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively

enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because

certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or

smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or

substantively enacted at the balance sheet date.

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.

Research and development

Expenditure on research and development is written off as incurred.

Foreign currencies

Transactions in foreign currencies are translated to the company's functional currency at the foreign exchange rate ruling at the date of the

transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional

currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in profit or loss.

Leases

Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases.

All other leases are classified as operating leases.

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a

straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general

inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised

in profit and loss over the term of the lease as an integral part of the total lease expense.

Pensions

The company operates 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 in the periods during which services are rendered by employees.

3.	STAFF NUMBERS

The average number of employees during the year was 7 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Office

Computer

improvements

equipment

equipment

Totals

£

£

£

£

COST

At 1 October 2017

11,867

1,943

3,459

17,269

Additions

22,916

1,338

6,370

30,624

Disposals

(11,867

)

(227

)

(1,057

)

(13,151

)

At 30 September 2018

22,916

3,054

8,772

34,742

DEPRECIATION

At 1 October 2017

2,888

318

769

3,975

Charge for year

3,411

502

1,863

5,776

Eliminated on disposal

(2,888

)

(53

)

-

(2,941

)

At 30 September 2018

3,411

767

2,632

6,810

NET BOOK VALUE

At 30 September 2018

19,505

2,287

6,140

27,932

At 30 September 2017

8,979

1,625

2,690

13,294

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

339,736

76,969

Other debtors

62,617

12,131

Prepayments and accrued income

21,403

17,495

423,756

106,595

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans and overdrafts

-

24,016

Trade creditors

164,451

118,562

Social security and other taxes

7,972

2,997

Other creditors

142,283

248,395

Accruals and deferred income

252

25,063

314,958

419,033

Invoice financing debts are secured by a fixed and floating charge of the assets of the company. At the year end the balance was £nil.

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.18

30.9.17

£

£

Within one year

65,000

20,000

Between one and five years

81,250

17,808

146,250

37,808

8.	RELATED PARTY TRANSACTIONS

During the year the company received loans from a director of £106 (2017: £659) and repaid £145 (2017: £1,256). As at 30 September 2018

Livia's Health Foods owed £4,184 (2017: £4,223) to the director. All balances attract a nil rate of interest and are repayable on demand.

During the year the company received loans from Aria Investments, a shareholder, of £nil (2017: £nil) and repaid £nil (2017: £nil). As at 30

September 2018 Livia's Health Foods owed £2,500 (2017: £2,500) to the shareholder. All balances attract a nil rate of interest and are

repayable on demand.