1 March 2022 false Taxfiler 2023.9 10020833business:PrivateLimitedCompanyLtd2022-03-012023-02-28 100208332022-02-28 100208332022-03-012023-02-28 10020833business:AuditExemptWithAccountantsReport2022-03-012023-02-28 10020833business:FilletedAccounts2022-03-012023-02-28 100208332023-02-28 10020833business:Director12022-03-012023-02-28 10020833business:Director22022-03-012023-02-28 10020833business:Director32022-03-012023-02-28 10020833business:Director42022-03-012023-02-28 10020833business:RegisteredOffice2022-03-012023-02-28 100208332022-02-28 10020833core:WithinOneYear2023-02-28 10020833core:WithinOneYear2022-02-28 10020833core:AfterOneYear2023-02-28 10020833core:AfterOneYear2022-02-28 10020833core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 10020833core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 10020833core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 10020833core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 10020833core:PreviouslyStatedAmount2023-02-28 10020833core:PreviouslyStatedAmount2022-02-28 10020833business:SmallEntities2022-03-012023-02-28 10020833countries:EnglandWales2022-03-012023-02-28 10020833core:PlantMachinery2022-03-012023-02-28 10020833core:ComputerEquipment2022-03-012023-02-28 10020833core:PlantMachinery2022-02-28 10020833core:FurnitureFittings2022-02-28 10020833core:FurnitureFittings2022-03-012023-02-28 10020833core:PlantMachinery2023-02-28 10020833core:FurnitureFittings2023-02-28 10020833core:WithinOneYear2022-03-012023-02-28 10020833core:AfterOneYear2022-03-012023-02-28 10020833business:OrdinaryShareClass12022-03-012023-02-28 10020833business:OrdinaryShareClass12021-03-012022-02-28 10020833business:OrdinaryShareClass22022-03-012023-02-28 10020833business:OrdinaryShareClass22021-03-012022-02-28 10020833business:AllOrdinaryShares2022-03-012023-02-28 10020833business:AllOrdinaryShares2021-03-012022-02-28 100208332021-03-012022-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10020833 (England and Wales)
5LOYALTY LTD Unaudited accounts for the year ended 28 February 2023
5LOYALTY LTD Unaudited accounts Contents
Page
- 2 -
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
- 3 -
5LOYALTY LTD Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,084 
3,561 
Current assets
Debtors
63,137 
15,907 
Cash at bank and in hand
15,547 
16,744 
78,684 
32,651 
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)
Capital and reserves
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
- 4 -
5LOYALTY LTD Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
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.
Pension costs
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.
- 5 -
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 
Additions
3,217 
- 
3,217 
At 28 February 2023
7,817 
1,492 
9,309 
Depreciation
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 
Net book value
At 28 February 2023
4,454 
630 
5,084 
At 28 February 2022
2,722 
839 
3,561 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
33,664 
13,712 
Accrued income and prepayments
2 
2,195 
Other debtors
29,471 
- 
63,137 
15,907 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
12,592 
4,000 
VAT
10,706 
808 
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 
Accruals
1,367 
1,283 
61,086 
29,378 
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 
£ 
£ 
Bank loans
35,556 
40,209 
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.
- 6 -
5LOYALTY LTD Notes to the Accounts for the year ended 28 February 2023
8
Share capital
2023 
2022 
£ 
£ 
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 
1.25 
1.25 
9
Loans to directors
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).
- 7 -