Registered number
10775733
Love Your Accountants Ltd
Filleted Accounts
31 October 2023
Love Your Accountants Ltd
Registered number: 10775733
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 202,802 139,150
Current assets
Debtors 4 74,832 102,274
Cash at bank and in hand 96,224 145,388
171,056 247,662
Creditors: amounts falling due within one year 5 (151,506) (73,870)
Net current assets 19,550 173,792
Total assets less current liabilities 222,352 312,942
Creditors: amounts falling due after more than one year 6 (208,901) (208,204)
Net assets 13,451 104,738
Capital and reserves
Called up share capital 320 200
Share premium (81,596) -
Profit and loss account 94,727 104,538
Shareholders' funds 13,451 104,738
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered 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.
A Mildner
Director
Approved by the board on 17 July 2024
Love Your Accountants Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 20,900 29,876 92,380 143,156
Additions - 7,596 63,550 71,146
At 31 October 2023 20,900 37,472 155,930 214,302
Depreciation
At 1 November 2022 - 4,006 - 4,006
Charge for the year - 7,494 - 7,494
At 31 October 2023 - 11,500 - 11,500
Net book value
At 31 October 2023 20,900 25,972 155,930 202,802
At 31 October 2022 20,900 25,870 92,380 139,150
4 Debtors 2023 2022
£ £
Trade debtors 38,407 56,318
Amounts owed by group undertakings and undertakings in which the company has a participating interest 17,337 21,362
Other debtors 19,088 24,594
74,832 102,274
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 35,786 7,259
Amounts owed to group undertakings and undertakings in which the company has a participating interest 8,799 8,958
Taxation and social security costs 65,143 53,484
Other creditors 41,778 4,169
151,506 73,870
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 69,319 131,919
Obligations under finance lease and hire purchase contracts 139,582 76,285
208,901 208,204
7 Other information
Love Your Accountants Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2a The Quadrant
Upper High St
Epsom
Surrey
KT17 4RH
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