Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-312023-01-01falseNo description of principal activity2021truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05940754 2023-01-01 2023-12-31 05940754 2022-01-01 2022-12-31 05940754 2023-12-31 05940754 2022-12-31 05940754 c:Director1 2023-01-01 2023-12-31 05940754 d:Buildings 2023-01-01 2023-12-31 05940754 d:Buildings 2023-12-31 05940754 d:Buildings 2022-12-31 05940754 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05940754 d:FurnitureFittings 2023-01-01 2023-12-31 05940754 d:FurnitureFittings 2023-12-31 05940754 d:FurnitureFittings 2022-12-31 05940754 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05940754 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05940754 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 05940754 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 05940754 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 05940754 d:ComputerSoftware 2023-12-31 05940754 d:ComputerSoftware 2022-12-31 05940754 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 05940754 d:CurrentFinancialInstruments 2023-12-31 05940754 d:CurrentFinancialInstruments 2022-12-31 05940754 d:Non-currentFinancialInstruments 2023-12-31 05940754 d:Non-currentFinancialInstruments 2022-12-31 05940754 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05940754 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05940754 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05940754 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05940754 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 05940754 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 05940754 d:ShareCapital 2023-12-31 05940754 d:ShareCapital 2022-12-31 05940754 d:SharePremium 2023-12-31 05940754 d:SharePremium 2022-12-31 05940754 d:RetainedEarningsAccumulatedLosses 2023-12-31 05940754 d:RetainedEarningsAccumulatedLosses 2022-12-31 05940754 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05940754 c:OrdinaryShareClass1 2023-12-31 05940754 c:OrdinaryShareClass1 2022-12-31 05940754 c:FRS102 2023-01-01 2023-12-31 05940754 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05940754 c:FullAccounts 2023-01-01 2023-12-31 05940754 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05940754 2 2023-01-01 2023-12-31 05940754 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 05940754 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 05940754 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05940754









LOVE BRAND & CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LOVE BRAND & CO. LIMITED
REGISTERED NUMBER: 05940754

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,986
3,428

Tangible assets
 5 
1,009,130
999,148

  
1,012,116
1,002,576

Current assets
  

Stocks
  
1,625,124
1,070,654

Debtors: amounts falling due within one year
 6 
319,956
348,722

Cash at bank and in hand
 7 
34,207
360,993

  
1,979,287
1,780,369

Creditors: amounts falling due within one year
 8 
(1,198,108)
(718,611)

Net current assets
  
 
 
781,179
 
 
1,061,758

Total assets less current liabilities
  
1,793,295
2,064,334

Creditors: amounts falling due after more than one year
 9 
(2,760,965)
(2,281,410)

  

Net liabilities
  
(967,670)
(217,076)


Capital and reserves
  

Called up share capital 
 11 
400,000
400,000

Share premium account
  
1,150,000
1,150,000

Profit and loss account
  
(2,517,670)
(1,767,076)

  
(967,670)
(217,076)


Page 1

 
LOVE BRAND & CO. LIMITED
REGISTERED NUMBER: 05940754
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 comprehensive income 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 on 18 March 2025.




................................................
O Tomalin
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The legal form of the entity is a private company limited by shares and is incorporated and domiciled in England and Wales (registered number: 05940754). The address of the Company's registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom W1W 6XH.

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 financial statements have been prepared on the going concern basis. The Company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least 12 months from the date of approval of these financial statements.
The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

Page 3

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Trademarks
-
10%
on a straight line basis
Website costs
-
33%
on a straight line basis

Page 5

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures, fittings & office equipment
-
25%
on a straight line basis

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 21).


4.


Intangible assets




Trademarks
Website
Total

£
£
£



Cost


At 1 January 2023
17,577
24,846
42,423



At 31 December 2023

17,577
24,846
42,423



Amortisation


At 1 January 2023
14,148
24,846
38,994


Charge for the year on owned assets
443
-
443



At 31 December 2023

14,591
24,846
39,437



Net book value



At 31 December 2023
2,986
-
2,986



At 31 December 2022
3,429
-
3,429



Page 7

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Fixtures, fittings & office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
977,118
85,271
1,062,389


Additions
-
24,046
24,046



At 31 December 2023

977,118
109,317
1,086,435



Depreciation


At 1 January 2023
-
63,242
63,242


Charge for the year on owned assets
-
14,063
14,063



At 31 December 2023

-
77,305
77,305



Net book value



At 31 December 2023
977,118
32,012
1,009,130



At 31 December 2022
977,118
22,029
999,147

Page 8

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
202,617
256,740

Other debtors
113,909
89,408

Prepayments and accrued income
3,430
2,574

319,956
348,722



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
34,207
360,993

34,207
360,993



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,336
354,813

Other loans
82,980
-

Trade creditors
734,007
284,575

Other taxation and social security
54,496
-

Other creditors
253,694
25,608

Accruals and deferred income
67,595
53,615

1,198,108
718,611



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
31,883
37,390

Other creditors
2,729,082
2,244,020

2,760,965
2,281,410


Page 9

 
LOVE BRAND & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,336
354,813

Other loans
82,980
-


88,316
354,813



Amounts falling due after more than 5 years

Bank loans
31,883
37,390

31,883
37,390

120,199
392,203



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



400,000 (2022 - 400,000) Ordinary shares of £1.00 each
400,000
400,000



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,654 (2022: £18,333).


13.


Related party transactions

Included within creditors falling due in more than one year is a balance of £2,959,082 (2022: £2,244,020) owed to a director of the Company. 

 
Page 10