2023-02-012024-01-312024-01-31false09377505LOVESHEA SKINCARE 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LOVESHEA SKINCARE LTD

Registered Number
09377505
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

LOVESHEA SKINCARE LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

JOHNSON, Fausat Omolola
JOHNSON, Raymond

Registered Address

5 Grange Road
Eccles
Manchester
M30 8JW

Registered Number

09377505 (England and Wales)
LOVESHEA SKINCARE LTD
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,1933,289
2,1933,289
Current assets
Debtors1,742851
Cash at bank and on hand1,054376
2,7961,227
Creditors amounts falling due within one year4(11,392)(7,787)
Net current assets (liabilities)(8,596)(6,560)
Total assets less current liabilities(6,403)(3,271)
Creditors amounts falling due after one year(4,803)(6,947)
Net assets(11,206)(10,218)
Capital and reserves
Profit and loss account(11,206)(10,218)
Shareholders' funds(11,206)(10,218)
The financial statements were approved and authorised for issue by the Board of Directors on 29 October 2024, and are signed on its behalf by:
JOHNSON, Fausat Omolola
Director
Registered Company No. 09377505
LOVESHEA SKINCARE LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 233,710
At 31 January 243,710
Depreciation and impairment
At 01 February 23420
Charge for year1,097
At 31 January 241,517
Net book value
At 31 January 242,193
At 31 January 233,289
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables36193
Bank borrowings and overdrafts390394
Taxation and social security165-
Accrued liabilities and deferred income10,8017,200
Total11,3927,787
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Further information regarding the company's financial position
Barclays Credit Facility LoveShea Skincare Ltd has an available credit facility with Barclays through a corporate credit card account. As of 31 January 2024, the facility limit is £4,500, with no outstanding balance. This facility has not been utilised during the financial period and remains fully available for future cash flow management if required.