2023-06-012024-05-312024-05-31false09046635LOVE REMOVALS 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LOVE REMOVALS LIMITED

Registered Number
09046635
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

LOVE REMOVALS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

GREEN, Wayne

Registered Address

10 Appledore Road
Brighton
BN2 4PS

Registered Number

09046635 (England and Wales)
LOVE REMOVALS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets330,28337,854
30,28337,854
Current assets
Debtors5,5907,045
Cash at bank and on hand48,18437,317
53,77444,362
Creditors amounts falling due within one year4(55,094)(47,219)
Net current assets (liabilities)(1,320)(2,857)
Total assets less current liabilities28,96334,997
Creditors amounts falling due after one year5(14,516)(23,539)
Provisions for liabilities6(5,754)(7,192)
Net assets8,6934,266
Capital and reserves
Called up share capital11
Profit and loss account8,6924,265
Shareholders' funds8,6934,266
The financial statements were approved and authorised for issue by the Director on 16 August 2024, and are signed on its behalf by:
GREEN, Wayne
Director
Registered Company No. 09046635
LOVE REMOVALS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 232,95584,0153,40590,375
At 31 May 242,95584,0153,40590,375
Depreciation and impairment
At 01 June 231,98747,7422,79252,521
Charge for year1947,2551227,571
At 31 May 242,18154,9972,91460,092
Net book value
At 31 May 2477429,01849130,283
At 31 May 2396836,27361337,854
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables392256
Bank borrowings and overdrafts10,73110,831
Taxation and social security20,5069,001
Other creditors23,46527,131
Total55,09447,219
Short term creditors are measured at transaction price (which is usually the invoice 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.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts14,51623,539
Total14,51623,539
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,7547,192
Total5,7547,192
7.Related party transactions
The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.