Registered number
06027185
Landlords Best Friend Limited
Unaudited Filleted Accounts
31 January 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
Landlords Best Friend Limited
Registered number: 06027185
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 1
Tangible assets 4 4,858 6,351
4,858 6,352
Current assets
Stocks 6,696 13,709
Debtors 5 18,104 13,623
Cash at bank and in hand 6,171 7,924
30,971 35,256
Creditors: amounts falling due within one year 6 (22,831) (22,643)
Net current assets 8,140 12,613
Total assets less current liabilities 12,998 18,965
Creditors: amounts falling due after more than one year 7 (11,507) (18,341)
Provisions for liabilities (1,207) (1,507)
Net assets/(liabilities) 284 (883)
Capital and reserves
Called up share capital 1 1
Profit and loss account 283 (884)
Shareholders' funds 284 (883)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Robert Harding
Director
Approved by the board on 28 November 2023
Landlords Best Friend Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 19,500
At 31 January 2023 19,500
Amortisation
At 1 February 2022 19,499
Provided during the year 1
At 31 January 2023 19,500
Net book value
At 31 January 2023 -
At 31 January 2022 1
Goodwill has been fully written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2022 3,075 17,090 20,165
At 31 January 2023 3,075 17,090 20,165
Depreciation
At 1 February 2022 2,131 11,683 13,814
Charge for the year 142 1,351 1,493
At 31 January 2023 2,273 13,034 15,307
Net book value
At 31 January 2023 802 4,056 4,858
At 31 January 2022 944 5,407 6,351
5 Debtors 2023 2022
£ £
Trade debtors 9,482 4,745
Other debtors 8,622 8,878
18,104 13,623
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan (see note 7 below) 10,272 10,000
Obligations under finance lease and hire purchase contracts 841 3,359
Trade creditors 7,495 8,029
Corporation tax 78 435
Other taxes and social security costs 3,848 584
Other creditors 297 236
22,831 22,643
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 11,507 17,500
Obligations under finance lease and hire purchase contracts - 841
11,507 18,341
The Bounce back loan is unsecured and is repayable over 5 years .
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Robert Harding
Overdrawn Director Loan Balance 3,285 3,938 - 7,223
3,285 3,938 - 7,223
The loan is repayable on demand and an interest rate of 3% per annum is payable on the balance.
The loan were fully repaid by 31/07/2023.
9 Controlling party
The Company was under the control of Mr Robert Harding, a director and shareholder throughout the year.
10 Other information
Landlords Best Friend Limited is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe street
Walthamstow
London
E17 9BG
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