Company Registration No. 09400077 (England and Wales)
James Lovick Limited
Unaudited accounts
for the year ended 31 January 2023
James Lovick Limited
Unaudited accounts
Contents
James Lovick Limited
Company Information
for the year ended 31 January 2023
Company Number
09400077 (England and Wales)
Registered Office
31 Barnes Wallis Avenue
Christ's Hospital
Horsham
West Sussex
RH13 0TJ
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
James Lovick Limited
Statement of financial position
as at 31 January 2023
Tangible assets
3,694
2,815
Cash at bank and in hand
129,162
65,254
Creditors: amounts falling due within one year
(73,199)
(67,956)
Net current assets/(liabilities)
65,963
(2,702)
Called up share capital
100
100
Profit and loss account
69,557
13
Shareholders' funds
69,657
113
For the year ending 31 January 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 director acknowledges his 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 and authorised for issue on 4 October 2023 and were signed on its behalf by
James Lovick
Director
Company Registration No. 09400077
James Lovick Limited
Notes to the Accounts
for the year ended 31 January 2023
James Lovick Limited is a private company, limited by shares, registered in England and Wales, registration number 09400077. The registered office is 31 Barnes Wallis Avenue, Christ's Hospital, Horsham, West Sussex, RH13 0TJ.
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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.
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
20% straight line
Computer equipment
33% straight line
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
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.
James Lovick Limited
Notes to the Accounts
for the year ended 31 January 2023
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.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
5,780
7,486
13,266
At 31 January 2023
9,653
7,486
17,139
At 1 February 2022
4,906
5,545
10,451
Charge for the year
2,394
600
2,994
At 31 January 2023
7,300
6,145
13,445
At 31 January 2023
2,353
1,341
3,694
At 31 January 2022
874
1,941
2,815
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
25,726
12,810
Loans from directors
45,490
53,706
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 2 (2022: 2).