Company Registration No. 10902328 (England and Wales)
LoveBeer Ltd
Unaudited accounts
for the year ended 29 February 2024
LoveBeer Ltd
Unaudited accounts
Contents
LoveBeer Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
23,029
11,034
Cash at bank and in hand
1,939
6,555
Creditors: amounts falling due within one year
(42,415)
(30,496)
Net current liabilities
(13,298)
(10,766)
Total assets less current liabilities
9,731
268
Provisions for liabilities
Called up share capital
400
200
Profit and loss account
3,574
68
Shareholders' funds
3,974
268
For the year ending 29 February 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by
J Southey
Director
Company Registration No. 10902328
LoveBeer Ltd
Notes to the Accounts
for the year ended 29 February 2024
LoveBeer Ltd is a private company, limited by shares, registered in England and Wales, registration number 10902328. The registered office is 95 High Street, Milton, OX14 4EJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20 years straight line
Plant & machinery
4 years straight line & 20 years straight line
Computer equipment
4 years straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
LoveBeer Ltd
Notes to the Accounts
for the year ended 29 February 2024
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Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
8,627
12,994
278
21,899
Additions
-
14,609
624
15,233
At 29 February 2024
8,627
27,603
902
37,132
At 1 March 2023
1,725
9,042
98
10,865
Charge for the year
431
2,607
200
3,238
At 29 February 2024
2,156
11,649
298
14,103
At 29 February 2024
6,471
15,954
604
23,029
At 28 February 2023
6,902
3,952
180
11,034
Raw materials
17,698
4,323
Finished goods
7,025
6,755
Amounts falling due within one year
Accrued income and prepayments
742
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
41
130
Loans from directors
40,009
28,777
8
Average number of employees
During the year the average number of employees was 3 (2023: 2).