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REGISTERED NUMBER: 05517368 (England and Wales)















Loan Machine Limited

Unaudited Financial Statements

For The Year Ended

31st December 2023






Loan Machine Limited (Registered number: 05517368)

Contents of the Financial Statements
For The Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

Loan Machine Limited

Company Information
For The Year Ended 31st December 2023







DIRECTORS: S L Francis-Maidstone
C H Burgoyne





SECRETARIES: S L Francis-Maidstone
C H Burgoyne





REGISTERED OFFICE: Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE





REGISTERED NUMBER: 05517368 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE

Loan Machine Limited (Registered number: 05517368)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 42,191 2,683

CURRENT ASSETS
Debtors 6 33,347 53,771
Cash at bank 83,046 119,307
116,393 173,078
CREDITORS
Amounts falling due within one year 7 27,057 48,271
NET CURRENT ASSETS 89,336 124,807
TOTAL ASSETS LESS CURRENT LIABILITIES 131,527 127,490

CREDITORS
Amounts falling due after more than one year 8 (48,745 ) -

PROVISIONS FOR LIABILITIES (8,016 ) (510 )
NET ASSETS 74,766 126,980

CAPITAL AND RESERVES
Called up share capital 9 4,000 4,000
Retained earnings 70,766 122,980
SHAREHOLDERS' FUNDS 74,766 126,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2024 and were signed on its behalf by:





C H Burgoyne - Director


Loan Machine Limited (Registered number: 05517368)

Notes to the Financial Statements
For The Year Ended 31st December 2023


1. STATUTORY INFORMATION

Loan Machine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from commissions, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 33.33% straight line
Computer equipment - 10% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Loan Machine Limited (Registered number: 05517368)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 - 15,550 15,550
Additions 53,213 - 53,213
At 31st December 2023 53,213 15,550 68,763
DEPRECIATION
At 1st January 2023 - 12,867 12,867
Charge for year 13,303 402 13,705
At 31st December 2023 13,303 13,269 26,572
NET BOOK VALUE
At 31st December 2023 39,910 2,281 42,191
At 31st December 2022 - 2,683 2,683

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,982 51,363
Prepayments 2,365 2,408
33,347 53,771

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases 2,553 -
Trade creditors 6,737 12,967
Corporation tax 6,907 17,638
Social security and other taxes 371 285
Other creditors 118 59
Directors' current accounts 7,197 14,382
Accrued expenses 3,174 2,940
27,057 48,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Finance leases 48,745 -

Loan Machine Limited (Registered number: 05517368)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
800 Ordinary A shares £1 800 800
200 Ordinary B shares £1 200 200
1,000 1,000

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
300,000 Ordinary E Shares £1 3,000 3,000

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Loan Machine Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Loan Machine Limited for the year ended 31st December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Loan Machine Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Loan Machine Limited and state those matters that we have agreed to state to the Board of Directors of Loan Machine Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Loan Machine Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Loan Machine Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Loan Machine Limited. You consider that Loan Machine Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Loan Machine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Englands Lane Business Centre
47 Englands Lane
Gorleston
Great Yarmouth
Norfolk
NR31 6BE


20th September 2024