REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2021 to 30 September 2021 |
for |
WE LOVE PURELY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2021 to 30 September 2021 |
for |
WE LOVE PURELY LIMITED |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Contents of the Financial Statements |
for the Period 1 January 2021 to 30 September 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WE LOVE PURELY LIMITED |
Company Information |
for the Period 1 January 2021 to 30 September 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Balance Sheet |
30 September 2021 |
30.9.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Balance Sheet - continued |
30 September 2021 |
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 |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Notes to the Financial Statements |
for the Period 1 January 2021 to 30 September 2021 |
1. | STATUTORY INFORMATION |
We Love Purely Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The prior period covered 12 months, therefore the comparatives are not directly comparable. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.Turnover is reduced for estimated customer returns, rebates and other similar allowances. |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. |
Financial instruments |
Debt instruments, other than those wholly repayable within one year, are initially measured at transaction price including transaction costs and subsequently at amortised cost using the effective interest rate method. |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Notes to the Financial Statements - continued |
for the Period 1 January 2021 to 30 September 2021 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 material 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Going concern |
The company has made a loss and has net current liabilities. The company is expected to trade profitably |
going forward as a result of streamlining of operations within the group to reduce costs and sales growth. With the financial support of its parent undertaking, the directors are satisfied that liabilities can be met as they fall due. Accordingly, the accounts have been prepared on a going concern basis. |
4. | EMPLOYEES |
The average number of employees during the period was |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Notes to the Financial Statements - continued |
for the Period 1 January 2021 to 30 September 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 September 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 31 December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 31.12.20 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 31.12.20 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.21 | 31.12.20 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 1,354 |
WE LOVE PURELY LIMITED (REGISTERED NUMBER: 10625324) |
Notes to the Financial Statements - continued |
for the Period 1 January 2021 to 30 September 2021 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.21 | 31.12.20 |
value: | £ | £ |
Ordinary | £1 | 162,374 | 94,900 |
67,474 Ordinary shares of £1 each were allotted as fully paid at a premium of £22,266 per share during the year. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year further advances totalling £7,539 were loaned to a director. At the balance sheet date |
£7,954 was owed to the company by a director. The loan to the director is interest free and repayable on demand. |