Labelheaven Ltd |
Registered number: |
05865250 |
Statement of Financial Position |
as at 31 July 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Financial assets |
|
|
|
1 |
|
|
1 |
|
Current assets |
Debtors |
3 |
|
110,123 |
|
|
100,735 |
Cash at bank and in hand |
|
|
18,050 |
|
|
16,793 |
|
|
|
128,173 |
|
|
117,528 |
|
Creditors: amounts falling due within one year |
4 |
|
(208,535) |
|
|
(200,844) |
|
Net current liabilities |
|
|
|
(80,362) |
|
|
(83,316) |
|
Net liabilities |
|
|
|
(80,361) |
|
|
(83,315) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
(80,461) |
|
|
(83,415) |
|
Shareholder's funds |
|
|
|
(80,361) |
|
|
(83,315) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his 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 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. |
|
|
|
|
J Schnakenberg |
Director |
Approved by the board on 8 March 2024 |
|
Labelheaven Ltd |
Notes to the Accounts |
for the year ended 31 July 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland. |
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of intercompany loans and a director's loan. The director is planning to continue this financial support for the company for the foreseeable future. |
|
|
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. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in impairment losses are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees and directors |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of directors and persons employed by the company |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
110,123 |
|
100,735 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Accruals |
1,260 |
|
1,258 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
178,890 |
|
172,398 |
|
Other taxes and social security costs |
17,978 |
|
16,193 |
|
Other creditors |
10,407 |
|
10,995 |
|
|
|
|
|
|
208,535 |
|
200,844 |
|
|
|
|
|
|
|
|
|
|
5 |
Related party transactions |
2023 |
|
2022 |
£ |
£ |
|
J Schnakenberg |
|
Director and 100% shareholder of Labelheaven Ltd |
|
Amount due from (to) the related party |
(10,406) |
|
(10,914) |
|
|
LabelOcean |
|
LabelOcean is a company that is registered in Germany. J Schnakenberg is director and 100% shareholder of LabelOcean and LabelHeaven Ltd. |
|
Amount due from (to) the related party |
(143,617) |
|
(137,551) |
|
|
EtikettenStar |
|
EtikettenStar is a company that is registered in Germany. J Schnakenberg is director and 100% shareholder of EtikettenStar and LabelHeaven Ltd. |
|
Amount due from (to) the related party |
(35,272) |
|
(34,847) |
|
|
LabelWonderland |
|
LabelWonderland is a company that is registered in Germany. J Schnakenberg is director and 50% shareholder of LabelWonderland. LabelHeaven Ltd. is also 50% shareholder of LabelWonderland. |
|
Amount due from (to) the related party |
102,073 |
|
98,951 |
|
|
6 |
Other information |
|
|
Labelheaven Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
269 Farnborough Road |
|
Farnborough |
|
Hampshire |
|
GU14 7LY |