Company Registration No. 10020833 (England and Wales)
5LOYALTY LTD
Unaudited accounts
for the year ended 28 February 2023
5LOYALTY LTD
Unaudited accounts
Contents
5LOYALTY LTD
Company Information
for the year ended 28 February 2023
Directors
Russell Phillippe
William Moore
Fiona Phillippe
Amy Moore
Company Number
10020833 (England and Wales)
Registered Office
30 Wisteria Road
London
SE13 5HN
Accountants
Lane Accounting Limited
Denmark House
143 High Street
Chalfont St Peter
Buckinghamshire
SL9 9QL
5LOYALTY LTD
Statement of financial position
as at 28 February 2023
Tangible assets
5,084
3,561
Cash at bank and in hand
15,547
16,744
Creditors: amounts falling due within one year
(61,086)
(29,378)
Net current assets
17,598
3,273
Total assets less current liabilities
22,682
6,834
Creditors: amounts falling due after more than one year
(35,556)
(40,209)
Net liabilities
(12,874)
(33,375)
Called up share capital
1
1
Profit and loss account
(12,875)
(33,376)
Shareholders' funds
(12,874)
(33,375)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2023 and were signed on its behalf by
Russell Phillippe
Director
Company Registration No. 10020833
5LOYALTY LTD
Notes to the Accounts
for the year ended 28 February 2023
5LOYALTY LTD is a private company, limited by shares, registered in England and Wales, registration number 10020833. The registered office is 30 Wisteria Road, London, SE13 5HN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum reducing balance
Computer equipment
25% per annum reducing balance
Expenditure on research and development is written off in the year in which it is incurred.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
5LOYALTY LTD
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2022
4,600
1,492
6,092
At 28 February 2023
7,817
1,492
9,309
At 1 March 2022
1,878
653
2,531
Charge for the year
1,485
209
1,694
At 28 February 2023
3,363
862
4,225
At 28 February 2023
4,454
630
5,084
At 28 February 2022
2,722
839
3,561
Amounts falling due within one year
Trade debtors
33,664
13,712
Accrued income and prepayments
2
2,195
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
12,592
4,000
Trade creditors
26,421
20,179
Amounts owed to group undertakings and other participating interests
10,000
-
Taxes and social security
-
156
Loans from directors
-
2,952
Creditors include secured bank loans of £12,592 (2022 £4,000). The bank loans are secured by a fixed and floating charge over the company's assets.
7
Creditors: amounts falling due after more than one year
2023
2022
Creditors include secured bank loans of £35,556 (2022 £40,209). The bank loans are secured by a fixed and floating charge over the company's assets.
5LOYALTY LTD
Notes to the Accounts
for the year ended 28 February 2023
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1.00
1.00
25 B Ordinary shares of £0.01 each
0.25
0.25
At the 28th February 2023 Mr Phillippe owed the company £20,392 (2022 - £0) and Mr Moore owed the company £9,079 (2022 - £0).
10
Transactions with related parties
At 28th February 2023 the Company owed Collsmoore Limited £10,000. William Moore and Amy Moore are directors of both companies.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).