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Registered Number: 07239050
England and Wales

 

 

 

LOVE10 LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Report to the directors on the preparation of the unaudited statutory accounts of Love10 Limited for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Love10 Limited for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Love10 Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2024 Our work has been undertaken solely to prepare for your approval the accounts of Love10 Limited and state those matters that we have agreed to state to the Board of Directors of Love10 Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Love10 Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Love10 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Love10 Limited. You consider that Love10 Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Love10 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 April 2023



....................................................
Martin Morrison & Co Limited
Unit 43 The Coach House
66-70 Bourne Road
Bexley
DA5 1LU
23 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 2,000    2,000 
Tangible fixed assets 4 2    2 
2,002    2,002 
Current assets      
Cash at bank and in hand 579    579 
Creditors: amount falling due within one year (2,600)   (1,333)
Net current liabilities (2,021)   (754)
 
Total assets less current liabilities (19)   1,248 
Net liabilities (19)   1,248 
 

Capital and reserves
     
Called up share capital 1    1 
General Reserves 5 1,247    1,427 
Profit and loss account (1,267)   (180)
Shareholder's funds (19)   1,248 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 February 2024 and were signed by:


-------------------------------
Olusola Babatunde
Director
2
General Information
Love10 Limited is a private company, limited by shares, registered in England and Wales, registration number 07239050, registration address 4 Hunters Chase, Kirby Cross, Frinton On Sea, Frinton On Sea, CO13 0JZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25%
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2022 10,000    10,000 
Additions  
Disposals  
At 30 April 2023 10,000    10,000 
Amortisation
At 01 May 2022 8,000    8,000 
Charge for year  
On disposals  
At 30 April 2023 8,000    8,000 
Net book values
At 30 April 2023 2,000    2,000 
At 30 April 2022 2,000    2,000 


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 May 2022 1,750    1,750 
Additions  
Disposals  
At 30 April 2023 1,750    1,750 
Depreciation
At 01 May 2022 1,748    1,748 
Charge for year  
On disposals  
At 30 April 2023 1,748    1,748 
Net book values
Closing balance as at 30 April 2023   2 
Opening balance as at 01 May 2022   2 


5.

General Reserves

2023
£
  2022
£
General Reserve 1,247    1,427 
1,247    1,427 

3