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Registered Number: 07584465


 

 

 

LOVE MERCHANDISE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Paul Robert Kelly
Registered Number 07584465
Registered Office 18 Strawberry Fields
Mortimer
Reading
Berkshire
RG7 3WS
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 August 2024.
Principal activities
Principal activity of the company during the financial year was of sale of merchandise. 
Director
The director who served the company throughout the year was as follows:
Paul Robert Kelly

On behalf of the board.


----------------------------------
Paul Robert Kelly
Director

Date approved: 18 December 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 395    51 
395    51 
Current assets      
Debtors 4 31,956    16,288 
Cash at bank and in hand 9,101    15,371 
41,057    31,659 
Creditors: amount falling due within one year 5 (36,061)   (25,032)
Net current assets 4,996    6,627 
 
Total assets less current liabilities 5,391    6,678 
Creditors: amount falling due after more than one year 6 (5,309)   (6,667)
Provisions for liabilities 7 (81)   (10)
Net assets 1    1 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account  
Shareholders' funds 1    1 
 


For the year ended 31 August 2024 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 18 December 2024 and were signed by:


-------------------------------
Paul Robert Kelly
Director
3
General Information
Love Merchandise Limited is a private company, limited by shares, registered in , registration number 07584465, registration address 18 Strawberry Fields , Mortimer, Reading, Berkshire, RG7 3WS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
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:
Plant and Machinery 20% Straight Line
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 September 2023 1,365    632    1,997 
Additions   389    389 
Disposals    
At 31 August 2024 1,365    1,021    2,386 
Depreciation
At 01 September 2023 1,365    581    1,946 
Charge for year   45    45 
On disposals    
At 31 August 2024 1,365    626    1,991 
Net book values
Closing balance as at 31 August 2024   395    395 
Opening balance as at 01 September 2023   51    51 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 18,724    10,981 
Other Debtors 1,680    1,680 
Taxation recoverable 2,915    915 
Directors' Current Accounts 8,637    2,712 
31,956    16,288 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 16,364    8,678 
Bank loans 2,500    2,500 
Social Security and Other Tax 6,259    3,170 
Accrued Expenses 8,473    8,284 
Other Creditors 2,465    2,400 
36,061    25,032 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank loans - 1-2 years 2,500    2,500 
Bank loans - 2-5 years 2,809    4,167 
5,309    6,667 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 81    10 
81    10 

4