REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Lovecrumbs Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Lovecrumbs Ltd |
Lovecrumbs Ltd (Registered number: SC407639) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Lovecrumbs Ltd |
Company Information |
for the Year Ended 31 October 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
60 Constitution Street |
Edinburgh |
EH6 6RR |
Lovecrumbs Ltd (Registered number: SC407639) |
Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
Lovecrumbs Ltd (Registered number: SC407639) |
Balance Sheet - continued |
31 October 2022 |
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 |
Lovecrumbs Ltd (Registered number: SC407639) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Lovecrumbs Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis. The directors have confirmed their financial support and that they will assist the company, if required, to meet its obligations as they fall due. |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to recognise a sale when substantially all the risks and rewards in connection with the goods have been passed to the buyer. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method. |
Lovecrumbs Ltd (Registered number: SC407639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current 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 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. |
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. |
Finance lease |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
Disposals |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Lovecrumbs Ltd (Registered number: SC407639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
Other creditors |
Lovecrumbs Ltd (Registered number: SC407639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.10.22 | 31.10.21 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 1,313 | - |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
31.10.22 | 31.10.21 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |