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REGISTERED NUMBER: 04608511 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 28 February 2024

for

Loosemore's Limited

Loosemore's Limited (Registered number: 04608511)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Loosemore's Limited

Company Information
for the Year Ended 28 February 2024







Director: Mr M D Loosemore





Secretary: Mrs S Loosemore





Registered office: Ty Garreg
Gwernifor Lane, Off Miskin Road
Miskin
Mountain Ash
Rhondda Cynon Taff
CF45 3UA





Registered number: 04608511 (England and Wales)





Accountants: Curtis, Bowden and Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
Rhondda Cynon Taff
CF40 1AR

Loosemore's Limited (Registered number: 04608511)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 41,379 20,454
41,379 20,454

Current assets
Stocks 3,000 3,000
Debtors 6 3,817 3,592
Cash at bank and in hand 80,112 66,787
86,929 73,379
Creditors
Amounts falling due within one year 7 58,700 38,423
Net current assets 28,229 34,956
Total assets less current liabilities 69,608 55,410

Provisions for liabilities 7,862 3,903
Net assets 61,746 51,507

Capital and reserves
Called up share capital 100 100
Retained earnings 8 61,646 51,407
Shareholders' funds 61,746 51,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Loosemore's Limited (Registered number: 04608511)

Balance Sheet - continued
28 February 2024


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 director and authorised for issue on 17 April 2024 and were signed by:





Mr M D Loosemore - Director


Loosemore's Limited (Registered number: 04608511)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. Statutory information

Loosemore's Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loosemore's Limited (Registered number: 04608511)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

3. Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 March 2023
and 28 February 2024 25,000
Amortisation
At 1 March 2023
and 28 February 2024 25,000
Net book value
At 28 February 2024 -
At 28 February 2023 -

5. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 March 2023 79,752 26,035 105,787
Additions 4,837 29,995 34,832
Disposals (5,976 ) (26,035 ) (32,011 )
At 28 February 2024 78,613 29,995 108,608
Depreciation
At 1 March 2023 68,298 17,035 85,333
Charge for year 3,412 1,495 4,907
Eliminated on disposal (5,976 ) (17,035 ) (23,011 )
At 28 February 2024 65,734 1,495 67,229
Net book value
At 28 February 2024 12,879 28,500 41,379
At 28 February 2023 11,454 9,000 20,454

6. Debtors: amounts falling due within one year
28.2.24 28.2.23
£    £   
Trade debtors 2,500 2,000
Other debtors 1,317 1,592
3,817 3,592

Loosemore's Limited (Registered number: 04608511)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. Creditors: amounts falling due within one year
28.2.24 28.2.23
£    £   
Trade creditors 5,114 4,963
Taxation and social security 6,512 8,880
Other creditors 47,074 24,580
58,700 38,423

8. Reserves
Retained
earnings
£   

At 1 March 2023 51,407
Profit for the year 38,239
Dividends (28,000 )
At 28 February 2024 61,646

9. Related party disclosures

During the year, total dividends of £14,000 were paid to the director .

During the year Loosemore Limited rented properties owned by Mr and Mrs Loosemore at a commercial rent of £16,800 p.a (2022- £16,800). Mr Loosemore is a director and a shareholder and Mrs Loosemore is company secretary and a shareholder of Loosemores Limited.

10. Ultimate controlling party

Mr M Loosemore,a director,together with members of his family,control the company by virtue of their holding of 100% of the issued ordinary share capital.