2023-06-012024-05-312024-05-31false10754754CHOPOVA LOWENA 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CHOPOVA LOWENA LIMITED

Registered Number
10754754
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

CHOPOVA LOWENA LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CHOPOVA, Emma
LOWENA-IRONS, Laura Louise

Registered Address

Unit 09 Paynes Wharf Studio
25 Wharf Street
London
SE8 3GG

Registered Number

10754754 (England and Wales)
CHOPOVA LOWENA LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets311,0486,547
Investments412744
11,1756,591
Current assets
Stocks5194,56331,400
Debtors6602,716412,293
Cash at bank and on hand304317
797,583444,010
Creditors amounts falling due within one year7(253,482)(127,631)
Net current assets (liabilities)544,101316,379
Total assets less current liabilities555,276322,970
Creditors amounts falling due after one year8(225,383)(20,000)
Provisions for liabilities9(2,700)(1,600)
Net assets327,193301,370
Capital and reserves
Called up share capital100100
Profit and loss account327,093301,270
Shareholders' funds327,193301,370
The financial statements were approved and authorised for issue by the Board of Directors on 17 February 2025, and are signed on its behalf by:
LOWENA-IRONS, Laura Louise
Director
Registered Company No. 10754754
CHOPOVA LOWENA LIMITED
Notes to the Financial Statements
for the year ended 31 May 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
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 the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Office equipment is depreciated at 15%-33%, reducing balance. Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
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.
2.Average number of employees

20242023
Average number of employees during the year97
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 2311,10111,101
Additions6,8936,893
At 31 May 2417,99417,994
Depreciation and impairment
At 01 June 234,5544,554
Charge for year2,3922,392
At 31 May 246,9466,946
Net book value
At 31 May 2411,04811,048
At 31 May 236,5476,547
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 June 234444
Additions8383
At 31 May 24127127
Net book value
At 31 May 24127127
At 31 May 234444

Notes

1Investments in group undertakings and participating interests
5.Stocks

2024

2023

££
Finished goods194,56331,400
Total194,56331,400
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables601,898391,281
Other debtors-16,112
Prepayments and accrued income8184,900
Total602,716412,293
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables263-
Bank borrowings and overdrafts45,51525,050
Taxation and social security17,6599,971
Other creditors185,99688,860
Accrued liabilities and deferred income4,0493,750
Total253,482127,631
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts225,38320,000
Total225,38320,000
9.Provisions for liabilities
The provision for deferred tax is made up of £2,700 (2023 - £1,600) in respect of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)2,7001,600
Total2,7001,600
10.Other commitments
At 31 May 2024 the company had future minimum lease payments under non-cancellable operating leases of £37,200 (2023 - £18,333).
11.Related party transactions
During the year the directors had a loan account with the company. At the balance sheet date the company owed the directors £154,457 (2023 - £87,858). This loan is unsecured, interest free and repayable upon demand. The company has taken advantage of the small group exemptions not to disclose transactions with wholly owned group companies.
12.Parent-subsidiary relationships
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.