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REGISTERED NUMBER: SC407639 (Scotland)















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: Miss R Morgan
Miss E Cuddeford





REGISTERED OFFICE: Cowan & Partners
60 Constitution Street
Leith
Edinburgh
MIDLOTHIAN
EH6 6RR





REGISTERED NUMBER: SC407639 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
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 4 367,367 183,208

CURRENT ASSETS
Stocks 35,000 20,000
Debtors 5 107,427 112,640
Cash at bank 9,058 6,827
151,485 139,467
CREDITORS
Amounts falling due within one year 6 308,938 219,475
NET CURRENT LIABILITIES (157,453 ) (80,008 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,914

103,200

CREDITORS
Amounts falling due after more than one year 7 107,115 53,564
NET ASSETS 102,799 49,636

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,699 49,536
SHAREHOLDERS' FUNDS 102,799 49,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 18 October 2023 and were signed on its behalf by:





Miss R Morgan - Director


Lovecrumbs Ltd (Registered number: SC407639)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Lovecrumbs Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not provided
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33.33% on cost

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 20 (2021 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 November 2021 - 17,415 152,901
Additions 133,763 22,288 48,341
Disposals - - -
At 31 October 2022 133,763 39,703 201,242
DEPRECIATION
At 1 November 2021 - 1,620 30,284
Charge for year - 794 40,248
Eliminated on disposal - - -
At 31 October 2022 - 2,414 70,532
NET BOOK VALUE
At 31 October 2022 133,763 37,289 130,710
At 31 October 2021 - 15,795 122,617

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 14,273 70,246 1,083 255,918
Additions - 48,596 - 252,988
Disposals - (13,765 ) - (13,765 )
At 31 October 2022 14,273 105,077 1,083 495,141
DEPRECIATION
At 1 November 2021 13,380 26,952 474 72,710
Charge for year 224 26,269 360 67,895
Eliminated on disposal - (12,831 ) - (12,831 )
At 31 October 2022 13,604 40,390 834 127,774
NET BOOK VALUE
At 31 October 2022 669 64,687 249 367,367
At 31 October 2021 893 43,294 609 183,208

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade debtors 14,835 35,256
Other debtors 92,592 77,384
107,427 112,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 11,651 6,817
Taxation and social security 25,599 25,279
Other creditors 261,688 177,379
308,938 219,475

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans 26,369 35,954
Hire purchase contracts (see note 8) 16,433 17,610
Other creditors 64,313 -
107,115 53,564

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 11,651 6,817
Between one and five years 16,433 17,610
28,084 24,427