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
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