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Logo On Report
Registered Number: 11600716
England and Wales

 

 

 

MDRN LOVE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Richard Hutchison
Registered Number 11600716
Registered Office Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
Accountants Ward Williams Creatives Limited
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 54,800    43,281 
54,800    43,281 
Current assets      
Debtors 4 204,404    140,280 
Cash at bank and in hand 140,150    140,178 
344,554    280,458 
Creditors: amount falling due within one year 5 (165,838)   (144,512)
Net current assets 178,716    135,946 
 
Total assets less current liabilities 233,516    179,227 
Creditors: amount falling due after more than one year 6 (12,447)   (19,237)
Provisions for liabilities 7 (12,307)  
Net assets 208,762    159,990 
 

Capital and reserves
     
Called up share capital 200    1 
Profit and loss account 208,562    159,989 
Shareholders' funds 208,762    159,990 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 15 October 2024 and were signed by:


-------------------------------
Richard Hutchison
Director
2
General Information
Mdrn Love Limited is a private company, limited by shares, registered in England and Wales, registration number 11600716, registration address Belgrave House, 39-43 Monument Hill, Weybridge, Surrey, KT13 8RN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Straight Line
Computer Equipment 25% Straight Line
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 November 2022 32,044    123,366    155,410 
Additions   51,704    51,704 
Disposals    
At 31 October 2023 32,044    175,070    207,114 
Depreciation
At 01 November 2022 8,011    104,118    112,129 
Charge for year 8,011    32,174    40,185 
On disposals    
At 31 October 2023 16,022    136,292    152,314 
Net book values
Closing balance as at 31 October 2023 16,022    38,778    54,800 
Opening balance as at 01 November 2022 24,033    19,248    43,281 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 198,210    140,280 
198,210    140,280 

4.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 6,194   
6,194   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 32,550    57,624 
Corporation Tax 52,399    27,732 
PAYE & Social Security 2,047    5,618 
Accrued Expenses 2,166    2,166 
Other Creditors (1)   (1)
Obligations under HP/Financial Leases 6,790    6,790 
Pension Control Account 126    252 
Credit card 12,480   
Directors' Current Accounts 13,241    7,867 
VAT 44,040    36,464 
165,838    144,512 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 12,447    19,237 
12,447    19,237 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 12,307   
12,307   

3