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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
Page
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James Lovick Limited Company Information for the year ended 31 January 2023
Director
James Lovick
Secretary
Verity Lovick
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
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James Lovick Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,694 
2,815 
Current assets
Debtors
10,000 
- 
Cash at bank and in hand
129,162 
65,254 
139,162 
65,254 
Creditors: amounts falling due within one year
(73,199)
(67,956)
Net current assets/(liabilities)
65,963 
(2,702)
Net assets
69,657 
113 
Capital and reserves
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
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James Lovick Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
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.
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.
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
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.
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.
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James Lovick Limited Notes to the Accounts for the year ended 31 January 2023
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.
4
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 
Additions
3,873 
- 
3,873 
At 31 January 2023
9,653 
7,486 
17,139 
Depreciation
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 
Net book value
At 31 January 2023
2,353 
1,341 
3,694 
At 31 January 2022
874 
1,941 
2,815 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,000 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
543 
- 
Taxes and social security
25,726 
12,810 
Loans from directors
45,490 
53,706 
Accruals
1,440 
1,440 
73,199 
67,956 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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