Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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3,278,330 | 2,989,815 | |||
Current assets | ||||
Debtors | ||||
- due within one year | 6 |
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- due after more than one year | 6 |
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Cash at bank and in hand |
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3,307,247 | 2,600,232 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (4,282,311) | (4,022,827) | ||
Total assets less current liabilities | (1,003,981) | (1,033,012) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of LOVE YELLOW LIMITED (registered number:
J B Waller
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
LOVE YELLOW LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The Company's business address is Stonebridge Henley Bridge, Henley-on-Thames, Oxfordshire, RG9 2LN.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £1,003,981. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Trademarks, patents and licences |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Computer equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments in Associates and Joint Ventures are held at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost | |||
At 01 August 2023 |
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At 31 July 2024 |
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Accumulated amortisation | |||
At 01 August 2023 |
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Charge for the financial year |
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At 31 July 2024 |
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Net book value | |||
At 31 July 2024 |
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At 31 July 2023 |
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Plant and machinery | Vehicles | Fixtures and fittings | Computer equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 August 2023 |
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Disposals |
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At 31 July 2024 |
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Accumulated depreciation | |||||||||
At 01 August 2023 |
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Charge for the financial year |
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Disposals |
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At 31 July 2024 |
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Net book value | |||||||||
At 31 July 2024 |
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At 31 July 2023 |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 August 2023 |
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At 31 July 2024 |
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Carrying value at 31 July 2024 |
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Carrying value at 31 July 2023 |
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Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 August 2023 |
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Additions |
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At 31 July 2024 |
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Carrying value at 31 July 2024 |
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Carrying value at 31 July 2023 |
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2024 | 2023 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Amounts owed by Group undertakings |
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Amounts owed by associates |
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VAT recoverable |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Amounts owed by Group undertakings |
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Amounts owed by joint ventures |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to connected companies |
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Amounts owed to director |
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Accruals |
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Taxation and social security |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
Amounts owed to directors | 6,338,856 | 4,712,836 |
This loan is interest free and repayable on demand.
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Amounts owed by subsidiary undertaking | 2,700,000 | 2,200,000 | |
Amounts owed by joint venture | 377,302 | 336,877 |