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COMPANY REGISTRATION NUMBER: 13154312
Lovari Ltd
Filleted Unaudited Financial Statements
31 July 2023
Lovari Ltd
Statement of Financial Position
31 July 2023
31 Jul 23
31 Jan 22
Note
£
£
£
£
Current assets
Stocks
11,000
Debtors
5
1
Cash at bank and in hand
717
--------
----
11,717
1
Creditors: amounts falling due within one year
6
33,726
--------
----
Net current (liabilities)/assets
( 22,009)
1
--------
----
Total assets less current liabilities
( 22,009)
1
--------
----
Net (liabilities)/assets
( 22,009)
1
--------
----
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
( 22,010)
--------
----
Shareholders (deficit)/funds
( 22,009)
1
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 April 2024 , and are signed on behalf of the board by:
J Mokrysz
Director
Company registration number: 13154312
Lovari Ltd
Notes to the Financial Statements
Period from 1 February 2022 to 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 7, 201 New Lonodn Road, Chelmsford, CM2 0AJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Average number of employees
The average number of employees during the year was 1.
5. Debtors
31 Jul 23
31 Jan 22
£
£
Other debtors
1
----
----
6. Creditors: amounts falling due within one year
31 Jul 23
31 Jan 22
£
£
Accruals and deferred income
960
Director loan accounts
32,766
--------
----
33,726
--------
----
7. Called up share capital
Issued, called up and fully paid
31 Jul 23
31 Jan 22
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Related party transactions
At the year end the company owed the director £32,766, by way of a directors loan account. No interest is charged on this balance and it is repayable on demand.