Caseware UK (AP4) 2024.0.164 2024.0.164 2024-02-292024-02-29false2023-03-0111falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13916662 2023-03-01 2024-02-29 13916662 2022-03-01 2023-02-28 13916662 2024-02-29 13916662 2023-02-28 13916662 c:Director1 2023-03-01 2024-02-29 13916662 d:CurrentFinancialInstruments 2024-02-29 13916662 d:CurrentFinancialInstruments 2023-02-28 13916662 d:Non-currentFinancialInstruments 2024-02-29 13916662 d:Non-currentFinancialInstruments 2023-02-28 13916662 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13916662 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13916662 d:ShareCapital 2024-02-29 13916662 d:ShareCapital 2023-02-28 13916662 d:RetainedEarningsAccumulatedLosses 2024-02-29 13916662 d:RetainedEarningsAccumulatedLosses 2023-02-28 13916662 c:OrdinaryShareClass1 2023-03-01 2024-02-29 13916662 c:OrdinaryShareClass1 2024-02-29 13916662 c:OrdinaryShareClass1 2023-02-28 13916662 c:FRS102 2023-03-01 2024-02-29 13916662 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13916662 c:FullAccounts 2023-03-01 2024-02-29 13916662 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13916662 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13916662










LVNT RETAIL LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
LVNT RETAIL LTD
REGISTERED NUMBER: 13916662

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Stocks
  
8,904
4,072

Debtors: amounts falling due after more than one year
 4 
480
480

Debtors: amounts falling due within one year
 4 
2,227
460

Cash at bank and in hand
 5 
17
459

  
11,628
5,471

Creditors: amounts falling due within one year
 6 
(44,555)
(21,053)

Net current liabilities
  
 
 
(32,927)
 
 
(15,582)

Total assets less current liabilities
  
(32,927)
(15,582)

Net liabilities
  
(32,927)
(15,582)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(33,027)
(15,682)

  
(32,927)
(15,582)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mohammed Nael Jaber
Director

Date: 27 February 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
LVNT RETAIL LTD
REGISTERED NUMBER: 13916662

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


Page 2

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

LVNT Retail Limited is a private company, limited by shares, and registered in England and Wales. The
address of its registered office is 83 Baker Street, London, W1U 6AG. It does not form part
of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through a loan from the director.
The director has indicated that his support will not be withdrawn. On this basis, the director
considers it appropriate to prepare the financial statements on a going concern basis. The financial
statements do not include any adjustments that would result from the withdrawal of these facilities.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

Page 3

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the
Page 4

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Debtors

29 February
28 February
2024
2023
£
£

Due after more than one year

Other debtors
480
480


29 February
28 February
2024
2023
£
£

Due within one year

Other debtors
1,129
406

Prepayments and accrued income
1,098
54

2,227
460



5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
17
459



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
3,334
1,616

Other creditors
31,119
17,369

Accruals and deferred income
10,102
2,068

44,555
21,053


Page 6

 
LVNT RETAIL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

At the balance sheet date, the balance due to the director was £31,119 (2023 - £17,369).


Page 7