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REGISTERED NUMBER: 07803545 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Love Warranty Ltd

Love Warranty Ltd (Registered number: 07803545)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Love Warranty Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J E Purcell
B Purcell
J R Purcell





REGISTERED OFFICE: St Oswald Suite
The Nostell Estate Yard
Nostell
Wakefield
WF4 1AB





REGISTERED NUMBER: 07803545 (England and Wales)





ACCOUNTANTS: The Sanders Partnership
Chartered Accountants
19 King Street
The Civic Quarter
Wakefield
West Yorkshire
WF1 2SQ

Love Warranty Ltd (Registered number: 07803545)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 60,375 51,254
Cash at bank 12,863 6,334
73,238 57,588
CREDITORS
Amounts falling due within one year 5 62,056 30,459
NET CURRENT ASSETS 11,182 27,129
TOTAL ASSETS LESS CURRENT LIABILITIES 11,182 27,129

CREDITORS
Amounts falling due after more than one year 6 7,852 11,336
NET ASSETS 3,330 15,793

CAPITAL AND RESERVES
Called up share capital 120 1
Retained earnings 3,210 15,792
3,330 15,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 30 May 2023 and were signed on its behalf by:




J E Purcell - Director B Purcell - Director




J R Purcell - Director


Love Warranty Ltd (Registered number: 07803545)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

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

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions
Provisions are only set up where it is probable that a present obligation exists as a result of an event prior to the balance sheet and that a payment will be required in settlement that can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Directors' current accounts 50,383 42,702
Prepayments 1,440 -
51,823 42,702

Amounts falling due after more than one year:
S455 tax deposit 8,552 8,552

Aggregate amounts 60,375 51,254

Love Warranty Ltd (Registered number: 07803545)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,483 3,397
Tax 18,160 18,056
S455 tax payable 7,027 7,027
Other creditors 20,000 -
Directors' current accounts 12,573 417
Accrued expenses 813 1,562
62,056 30,459

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,571 7,055
Bank loans - 2-5 years 4,281 4,281
7,852 11,336

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J E Purcell
Balance outstanding at start of year 37,637 26,315
Amounts advanced 42,456 41,634
Amounts repaid (31,248 ) (30,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,845 37,637

B Purcell
Balance outstanding at start of year 5,065 -
Amounts advanced 33,452 41,033
Amounts repaid (37,098 ) (35,968 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,419 5,065

The loan is repayable on demand and interest of 2% has been charged on this loan.