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Company Registration No. 12836580 (England and Wales)
Love Birds Gifts Limited Unaudited accounts for the year ended 31 August 2023
Love Birds Gifts Limited Unaudited accounts Contents
Page
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Love Birds Gifts Limited Company Information for the year ended 31 August 2023
Directors
Mr A Brookes Mrs C L Brookes
Company Number
12836580 (England and Wales)
Registered Office
2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU United Kingdom
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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Love Birds Gifts Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
10,500 
12,000 
Tangible assets
1,262 
1,850 
11,762 
13,850 
Current assets
Inventories
1,503 
5,500 
Cash at bank and in hand
1,037 
370 
2,540 
5,870 
Creditors: amounts falling due within one year
(24,114)
(23,920)
Net current liabilities
(21,574)
(18,050)
Net liabilities
(9,812)
(4,200)
Capital and reserves
Called up share capital
100 
200 
Profit and loss account
(9,912)
(4,400)
Shareholders' funds
(9,812)
(4,200)
For the year ending 31 August 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 27 October 2023 and were signed on its behalf by
Mr A Brookes Director Company Registration No. 12836580
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Love Birds Gifts Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Love Birds Gifts Limited is a private company, limited by shares, registered in England and Wales, registration number 12836580. The registered office is 2 Exeter Street, New Village Road, Cottingham, East Yorkshire, HU16 4LU, United Kingdom.
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:
Motor vehicles
20% WDV
Fixtures & fittings
25% Cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Love Birds Gifts Limited Notes to the Accounts for the year ended 31 August 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
15,000 
At 31 August 2023
15,000 
Amortisation
At 1 September 2022
3,000 
Charge for the year
1,500 
At 31 August 2023
4,500 
Net book value
At 31 August 2023
10,500 
At 31 August 2022
12,000 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
2,600 
1,100 
3,700 
Additions
- 
1,100 
1,100 
Disposals
(2,600)
- 
(2,600)
At 31 August 2023
- 
2,200 
2,200 
Depreciation
At 1 September 2022
1,300 
550 
1,850 
Charge for the year
- 
388 
388 
On disposals
(1,300)
- 
(1,300)
At 31 August 2023
- 
938 
938 
Net book value
At 31 August 2023
- 
1,262 
1,262 
At 31 August 2022
1,300 
550 
1,850 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
19 
18 
Other creditors
21,902 
23,902 
Loans from directors
1,437 
- 
Accruals
756 
- 
24,114 
23,920 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
200 
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Love Birds Gifts Limited Notes to the Accounts for the year ended 31 August 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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