Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11891969 2023-05-01 2024-04-30 11891969 2022-05-01 2023-04-30 11891969 2024-04-30 11891969 2023-04-30 11891969 c:Director2 2023-05-01 2024-04-30 11891969 d:Buildings 2024-04-30 11891969 d:Buildings 2023-04-30 11891969 d:LandBuildings 2024-04-30 11891969 d:LandBuildings 2023-04-30 11891969 d:CurrentFinancialInstruments 2024-04-30 11891969 d:CurrentFinancialInstruments 2023-04-30 11891969 d:Non-currentFinancialInstruments 2024-04-30 11891969 d:Non-currentFinancialInstruments 2023-04-30 11891969 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11891969 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11891969 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 11891969 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 11891969 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 11891969 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 11891969 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 11891969 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 11891969 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 11891969 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 11891969 d:ShareCapital 2024-04-30 11891969 d:ShareCapital 2023-04-30 11891969 d:RetainedEarningsAccumulatedLosses 2024-04-30 11891969 d:RetainedEarningsAccumulatedLosses 2023-04-30 11891969 c:FRS102 2023-05-01 2024-04-30 11891969 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11891969 c:FullAccounts 2023-05-01 2024-04-30 11891969 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11891969 6 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 11891969










Lovely Holdings Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 April 2024

 
Lovely Holdings Limited
Registered number: 11891969

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,239,500
5,239,500

Investments
 5 
1,002
1,002

  
5,240,502
5,240,502

Current assets
  

Debtors: amounts falling due within one year
 6 
-
18,500

Cash at bank and in hand
 7 
1,135
979

  
1,135
19,479

Creditors: amounts falling due within one year
 8 
(1,708,835)
(1,741,511)

Net current liabilities
  
 
 
(1,707,700)
 
 
(1,722,032)

Total assets less current liabilities
  
3,532,802
3,518,470

Creditors: amounts falling due after more than one year
 9 
(3,227,750)
(3,289,303)

  

Net assets
  
305,052
229,167


Capital and reserves
  

Called up share capital 
  
1,002
1,002

Profit and loss account
  
304,050
228,165

  
305,052
229,167


Page 1

 
Lovely Holdings Limited
Registered number: 11891969

Balance sheet (continued)
As at 30 April 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 October 2024.





Ruth C Mottram
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

Lovely Holdings Limited (“the company”) is a private company limited by shares and was incorporated in England and Wales with the registration number 11891969. The address of the registered office is Mill House Seaford Road, Alfrinston, Polegate, United Kingdom, BN26 5TP.
The principal activity of the company is that of letting and operating owned or leased real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

  
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of                                                                                                            operating in the manner intended by management. 
  
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
 

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







No of employees
2
2


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 May 2023
5,239,500



At 30 April 2024

5,239,500






Net book value



At 30 April 2024
5,239,500



At 30 April 2023
5,239,500




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
5,239,500
5,239,500

5,239,500
5,239,500


Page 5

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

           4.Tangible fixed assets (continued)

Freehold property has not been depreciated as in the directors' opinion this has a remaining useful economic life in excess of 50 years.


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
1,002



At 30 April 2024
1,002





6.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
18,500



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,135
979

Less: bank loans
(89,126)
(118,791)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
89,126
118,791

Amounts owed to group undertakings
936,877
795,831

Other taxation and social security
10,798
7,919

Other creditors
670,284
817,220

Accruals and deferred income
1,750
1,750

1,708,835
1,741,511


Page 6

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,227,750
3,289,303


The following liabilities were secured:

2024
2023
£
£



Bank loan
3,316,876
3,408,094

3,316,876
3,408,094

    

The bank loan is secured by a fixed and floating charge over the assets of the company.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
89,126
118,791


89,126
118,791

Amounts falling due 2-5 years

Bank loans
267,378
356,373


267,378
356,373

Amounts falling due after more than 5 years

Bank loans
2,871,246
2,814,139

2,871,246
2,814,139

3,227,750
3,289,303


Page 7

 
Lovely Holdings Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

11.


Related party transactions

The company has a fully owned subsidiary Lovely Pubs Limited in which the directors, Ms R Mottram and Mr D Ridler are also directors. The board of directors control the company by virtue of holding 100% of the issued share capital.
During the year the company received loans totalling £141,251 and received rental payments of £168,000 from Lovely Pubs Limited. Each transaction took place at arm's length basis and at prevailing market rates. At the balance sheet date included in Creditors: amounts falling due within one year under amounts owed to group undertakings was a balance of £936,877 ( 2023: £795,831) due to Lovely Pubs Limited.
At the balance date included in Creditors: amounts falling due within one year were loans from the directors of £670,284 (2023: £817,220). These loans are interest free and repayable on demand.


Page 8