Loller Limited 05263603 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a real estate agency. Digita Accounts Production Advanced 6.30.9574.0 05263603 2023-01-01 2023-12-31 05263603 2023-12-31 05263603 bus:OrdinaryShareClass1 2023-12-31 05263603 bus:OrdinaryShareClass2 2023-12-31 05263603 core:CurrentFinancialInstruments 2023-12-31 05263603 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05263603 core:Goodwill 2023-12-31 05263603 core:FurnitureFittingsToolsEquipment 2023-12-31 05263603 core:LandBuildings 2023-12-31 05263603 bus:SmallEntities 2023-01-01 2023-12-31 05263603 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05263603 bus:FilletedAccounts 2023-01-01 2023-12-31 05263603 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05263603 bus:RegisteredOffice 2023-01-01 2023-12-31 05263603 bus:Director1 2023-01-01 2023-12-31 05263603 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05263603 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 05263603 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05263603 core:Goodwill 2023-01-01 2023-12-31 05263603 core:FurnitureFittings 2023-01-01 2023-12-31 05263603 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05263603 core:LandBuildings 2023-01-01 2023-12-31 05263603 core:LeaseholdImprovements 2023-01-01 2023-12-31 05263603 core:OfficeEquipment 2023-01-01 2023-12-31 05263603 countries:EnglandWales 2023-01-01 2023-12-31 05263603 2022-12-31 05263603 core:Goodwill 2022-12-31 05263603 core:FurnitureFittingsToolsEquipment 2022-12-31 05263603 core:LandBuildings 2022-12-31 05263603 2022-01-01 2022-12-31 05263603 2022-12-31 05263603 bus:OrdinaryShareClass1 2022-12-31 05263603 bus:OrdinaryShareClass2 2022-12-31 05263603 core:CurrentFinancialInstruments 2022-12-31 05263603 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05263603 core:Goodwill 2022-12-31 05263603 core:FurnitureFittingsToolsEquipment 2022-12-31 05263603 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05263603

Loller Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Loller Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Loller Limited

Company Information

Director

Mrs Gail Roberts

Registered office

74 Mill Lane
West Derby
Liverpool
Merseyside
L12 7JB

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Loller Limited

(Registration number: 05263603)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

22,516

34,797

Tangible assets

5

46,785

56,076

Investments

6

-

2,273

 

69,301

93,146

Current assets

 

Debtors

7

154,416

135,875

Cash at bank and in hand

 

125,288

224,058

 

279,704

359,933

Creditors: Amounts falling due within one year

8

(84,790)

(106,111)

Net current assets

 

194,914

253,822

Total assets less current liabilities

 

264,215

346,968

Provisions for liabilities

(5,659)

(7,798)

Net assets

 

258,556

339,170

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

258,554

339,168

Shareholders' funds

 

258,556

339,170

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

 

Loller Limited

(Registration number: 05263603)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 24 April 2024
 

.........................................
Mrs Gail Roberts
Director

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
74 Mill Lane
West Derby
Liverpool
Merseyside
L12 7JB

These financial statements were authorised for issue by the director on 24 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Government grants

Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or when any terms and conditions relating to the grant are satisfied. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

Grants received in advance are included within other creditors whilst those for which the conditions have been met and which are virtually certain to be received by the company are included in other debtors.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% Reducing balance

Office equipment

33% Straight line

Leasehold improvements

15% Reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2022 - 18).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

122,809

122,809

At 31 December 2023

122,809

122,809

Amortisation

At 1 January 2023

88,012

88,012

Amortisation charge

12,281

12,281

At 31 December 2023

100,293

100,293

Carrying amount

At 31 December 2023

22,516

22,516

At 31 December 2022

34,797

34,797

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

119,597

89,525

209,122

Additions

-

1,523

1,523

At 31 December 2023

119,597

91,048

210,645

Depreciation

At 1 January 2023

68,858

84,188

153,046

Charge for the year

6,716

4,098

10,814

At 31 December 2023

75,574

88,286

163,860

Carrying amount

At 31 December 2023

44,023

2,762

46,785

At 31 December 2022

50,739

5,337

56,076

6

Investments

2023
£

2022
£

Other investments

-

2,273

7

Debtors

Current

2023
£

2022
£

Trade debtors

11,332

49,184

Prepayments and accrued income

42,051

33,784

Other debtors

101,033

52,907

 

154,416

135,875

 

Loller Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Due within one year

2023
£

2022
£

Trade creditors

9,036

3,691

Taxation and social security

50,340

91,510

Accruals and deferred income

20,690

5,561

Other creditors

4,724

5,349

84,790

106,111

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

B Ordinary share of £1 each

1

1

1

1

2

2

2

2

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of commitments, guarantees and contingencies is £89,324 (2022 - £83,241). The balance relates to the undiscounted minimum future payments due under non-cancellable operating leases, no security has been provided.

11

Related party transactions

As at the year end there were amounts totalling £40,132 (2022: £3,855 owed to) due from the director. The amounts are unsecured and repayable on demand.