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Registered number: 12882527
Loan The Look Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Walden Way & Co
Unit A3, Gateway Tower, 32 Western Gateway
London
E16 1YL
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12882527
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,541 11,266
Tangible Assets 5 39,733 37,447
48,274 48,713
CURRENT ASSETS
Debtors 6 1,112 1,772
Cash at bank and in hand 18,245 4,068
19,357 5,840
Creditors: Amounts Falling Due Within One Year 7 (74,958 ) (60,232 )
NET CURRENT ASSETS (LIABILITIES) (55,601 ) (54,392 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,327 ) (5,679 )
NET LIABILITIES (7,327 ) (5,679 )
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account (7,330 ) (5,682 )
SHAREHOLDERS' FUNDS (7,327) (5,679)
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Claudia Lucy Helena HILL
Director
19/02/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Loan The Look Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12882527 . The registered office is Clifton Castle, Clifton, Ripon, HG4 4AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the Website It is amortised to 25% over its estimated economic life of 4 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% RB
Fixtures & Fittings 25% RB
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 15,022
Additions 121
As at 31 December 2023 15,143
Amortisation
As at 1 January 2023 3,756
Provided during the period 2,846
As at 31 December 2023 6,602
Net Book Value
As at 31 December 2023 8,541
As at 1 January 2023 11,266
Other intangible assets is the Website. It is amortised to 25% over its estimated economic life of 4 years.
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 41,990 629 42,619
Additions 5,645 1,326 6,971
As at 31 December 2023 47,635 1,955 49,590
Depreciation
As at 1 January 2023 5,015 157 5,172
Provided during the period 4,235 450 4,685
As at 31 December 2023 9,250 607 9,857
Net Book Value
As at 31 December 2023 38,385 1,348 39,733
As at 1 January 2023 36,975 472 37,447
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 63 172
Other debtors 1,049 1,600
1,112 1,772
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,549 975
Other taxes and social security 484 -
Net wages - 840
Other creditors 214 75
Accruals and deferred income 1,220 1,850
Directors' loan accounts 71,491 56,492
74,958 60,232
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
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