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REGISTERED NUMBER: 11653669 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

C J LOVE WHOLESALE LIMITED

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C J LOVE WHOLESALE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs J Love
D J Love
C J Love
M J Love
Mrs J G Love





REGISTERED OFFICE: The White House
Cocksure Lane
Bunkers Hill
Sidcup
Kent
DA14 5EX





REGISTERED NUMBER: 11653669 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 18,000
Tangible assets 5 207,104 175,687
222,104 193,687

CURRENT ASSETS
Stocks 68,267 74,799
Debtors 6 789,076 881,256
Cash at bank and in hand 616,149 551,702
1,473,492 1,507,757
CREDITORS
Amounts falling due within one year 7 1,505,075 1,484,654
NET CURRENT (LIABILITIES)/ASSETS (31,583 ) 23,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,521

216,790

CREDITORS
Amounts falling due after more than one
year

8

(121,991

)

(119,113

)

PROVISIONS FOR LIABILITIES 9 (42,781 ) (32,880 )
NET ASSETS 25,749 64,797

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 11 25,549 64,597
SHAREHOLDERS' FUNDS 25,749 64,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





D J Love - Director


C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

C J Love Wholesale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% per annum on cost
Fixtures and fittings - 25% per annum on reducing balance
Motor vehicles - 25% per annum on reducing balance
Computer equipment - 25% per annum on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023 12,000
Amortisation for year 3,000
At 30 April 2024 15,000
NET BOOK VALUE
At 30 April 2024 15,000
At 30 April 2023 18,000

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 89,937 9,458 178,674 56,422 334,491
Additions 11,477 644 65,750 - 77,871
Disposals - - (5,332 ) (1,098 ) (6,430 )
At 30 April 2024 101,414 10,102 239,092 55,324 405,932
DEPRECIATION
At 1 May 2023 23,618 4,486 109,534 21,166 158,804
Charge for year 9,002 1,309 25,082 8,814 44,207
Eliminated on disposal - - (3,645 ) (538 ) (4,183 )
At 30 April 2024 32,620 5,795 130,971 29,442 198,828
NET BOOK VALUE
At 30 April 2024 68,794 4,307 108,121 25,882 207,104
At 30 April 2023 66,319 4,972 69,140 35,256 175,687

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 309,313 409,209
Amounts owed by group undertakings 468,469 436,217
Other debtors 11,294 35,830
789,076 881,256

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 96,704 182,223
Hire purchase contracts 17,250 -
Trade creditors 1,132,941 1,132,287
Taxation and social security 66,414 47,808
Other creditors 191,766 122,336
1,505,075 1,484,654

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 94,678 119,113
Hire purchase contracts 27,313 -
121,991 119,113

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 42,781 32,880

Deferred
tax
£   
Balance at 1 May 2023 32,880
Movement during the year 9,901
Balance at 30 April 2024 42,781

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
20 A Ordinary £1 20 20
20 B Ordinary £1 20 20
15 C Ordinary £1 15 15
15 D Ordinary £1 15 15
15 E Ordinary £1 15 15
15 F Ordinary £1 15 15
200 200

C J LOVE WHOLESALE LIMITED (REGISTERED NUMBER: 11653669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RESERVES
Retained
earnings
£   

At 1 May 2023 64,597
Profit for the year 32,952
Dividends (72,000 )
At 30 April 2024 25,549

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed Mr C Love & Mrs J Love £20,032 (2023: £13,321 ).

At the balance sheet date the company owed Mr D Love & Mrs J Love £60,385 (2023: £61,414).

At the balance sheet date the company owed Mr M Love & Mrs J Love £38,201(2023: £28,102).

13. RELATED PARTY DISCLOSURES

During the year dividends of £72,000 were paid to C J Love Group Limited.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C J Love Group Limited by virtue of its shareholding.

15. SECURED DEBTS

Lloyds Bank PLC holds a floating charge over all property or undertaking of C J Love Wholesale Limited.