Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28truefalse12022-02-15trueRetail sale via mail order houses or via InternetThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13916662 2022-02-14 13916662 2022-02-15 2023-02-28 13916662 2021-03-01 2022-02-14 13916662 2023-02-28 13916662 c:Director1 2022-02-15 2023-02-28 13916662 d:CurrentFinancialInstruments 2023-02-28 13916662 d:Non-currentFinancialInstruments 2023-02-28 13916662 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13916662 d:ShareCapital 2023-02-28 13916662 d:RetainedEarningsAccumulatedLosses 2023-02-28 13916662 c:OrdinaryShareClass1 2022-02-15 2023-02-28 13916662 c:OrdinaryShareClass1 2023-02-28 13916662 c:FRS102 2022-02-15 2023-02-28 13916662 c:AuditExempt-NoAccountantsReport 2022-02-15 2023-02-28 13916662 c:FullAccounts 2022-02-15 2023-02-28 13916662 c:PrivateLimitedCompanyLtd 2022-02-15 2023-02-28 13916662 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13916662









LVNT RETAIL LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
LVNT RETAIL LTD
REGISTERED NUMBER: 13916662

BALANCE SHEET
AS AT 28 FEBRUARY 2023

At 28 February 2023
Note
£

  

Current assets
  

Stocks
  
4,072

Debtors due after more than 1 year
  
480

Debtors due within 1 year
  
460

Bank and cash balances
  
459

  
5,471

Creditors: Amounts Falling Due Within One Year
 6 
(21,053)

Net current (liabilities)/assets
  
 
 
(15,582)

Total assets less current liabilities
  
(15,582)

  

Net (liabilities)/assets
  
(15,582)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(15,682)

  
(15,582)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mohammed Nael Jaber
Director
Date: 9 February 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

LVNT Retail Limited is a private company, limited by shares, and registered in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP. It does not form part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through a loan from the director.
The director has indicated that his support will not be withdrawn. On this basis, the director
considers it appropriate to prepare the financial statements on a going concern basis. The financial
statements do not include any adjustments that would result from the withdrawal of these facilities.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.



 
Page 3

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.

Page 4

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

4.


Debtors

At 28 February 2023
£

Due after more than one year

Other debtors
480


At 28 February 2023
£

Due within one year

Other debtors
406

Prepayments and accrued income
54

460



5.


Cash and cash equivalents

At 28 February 2023
£

Cash at bank and in hand
459



6.


Creditors: Amounts falling due within one year

At 28 February 2023
£

Trade creditors
1,616

Other creditors
17,369

Accruals and deferred income
2,068

21,053


Page 5

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

7.


Share capital

At 28 February 2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


100 Ordinary £1 shares were issued in the year at par for cash consideration.


8.


Related party transactions

At the balance sheet date, the balance due to the director was £17,369.


Page 6