1 March 2023 false No description of principal activity Taxfiler 2024.5 10902328business:PrivateLimitedCompanyLtd2023-03-012024-02-29 109023282023-02-28 109023282023-03-012024-02-29 10902328business:AuditExemptWithAccountantsReport2023-03-012024-02-29 10902328business:FilletedAccounts2023-03-012024-02-29 109023282024-02-29 109023282023-02-28 10902328core:WithinOneYear2024-02-29 10902328core:WithinOneYear2023-02-28 10902328core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 10902328core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 10902328core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 10902328core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 10902328core:PreviouslyStatedAmount2024-02-29 10902328core:PreviouslyStatedAmount2023-02-28 10902328business:SmallEntities2023-03-012024-02-29 10902328business:Director12023-03-012024-02-29 10902328countries:EnglandWales2023-03-012024-02-29 10902328business:RegisteredOffice2023-03-012024-02-29 10902328core:LandBuildings2023-03-012024-02-29 10902328core:PlantMachinery2023-03-012024-02-29 10902328core:ComputerEquipment2023-03-012024-02-29 10902328core:LandBuildings2023-02-28 10902328core:PlantMachinery2023-02-28 10902328core:ComputerEquipment2023-02-28 10902328core:LandBuildings2024-02-29 10902328core:PlantMachinery2024-02-29 10902328core:ComputerEquipment2024-02-29 109023282022-03-012023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 10902328 (England and Wales)
LoveBeer Ltd Unaudited accounts for the year ended 29 February 2024
LoveBeer Ltd Unaudited accounts Contents
Page
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LoveBeer Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,029 
11,034 
Current assets
Inventories
24,723 
11,078 
Debtors
2,455 
2,097 
Cash at bank and in hand
1,939 
6,555 
29,117 
19,730 
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
Deferred tax
(5,757)
- 
Net assets
3,974 
268 
Capital and reserves
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
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LoveBeer Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Pension costs
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 taxation
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
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
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.
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LoveBeer Ltd Notes to the Accounts for the year ended 29 February 2024
4
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 
Depreciation
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 
Net book value
At 29 February 2024
6,471 
15,954 
604 
23,029 
At 28 February 2023
6,902 
3,952 
180 
11,034 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
17,698 
4,323 
Finished goods
7,025 
6,755 
24,723 
11,078 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,713 
1,877 
Accrued income and prepayments
742 
- 
Other debtors
- 
220 
2,455 
2,097 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,482 
1,240 
Trade creditors
516 
349 
Taxes and social security
41 
130 
Loans from directors
40,009 
28,777 
Accruals
367 
- 
42,415 
30,496 
8
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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