Acorah Software Products - Accounts Production 16.1.300 false true true false 31 May 2023 31 August 2024 31 August 2024 14905527 Mr C Byrne Mr P Bottomer Mr P Bottomer and Mr C Byrne true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14905527 2023-05-30 14905527 2024-08-31 14905527 2023-05-31 2024-08-31 14905527 frs-core:CurrentFinancialInstruments 2024-08-31 14905527 frs-core:FurnitureFittings 2024-08-31 14905527 frs-core:FurnitureFittings 2023-05-31 2024-08-31 14905527 frs-core:FurnitureFittings 2023-05-30 14905527 frs-core:ShareCapital 2024-08-31 14905527 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 14905527 frs-bus:PrivateLimitedCompanyLtd 2023-05-31 2024-08-31 14905527 frs-bus:FilletedAccounts 2023-05-31 2024-08-31 14905527 frs-bus:SmallEntities 2023-05-31 2024-08-31 14905527 frs-bus:AuditExempt-NoAccountantsReport 2023-05-31 2024-08-31 14905527 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-31 2024-08-31 14905527 frs-bus:OrdinaryShareClass1 2023-05-31 2024-08-31 14905527 frs-bus:OrdinaryShareClass1 2024-08-31 14905527 1 2023-05-31 2024-08-31 14905527 frs-bus:Director1 2023-05-31 2024-08-31 14905527 frs-bus:Director2 2023-05-31 2024-08-31 14905527 frs-core:CurrentFinancialInstruments 3 2024-08-31 14905527 frs-countries:EnglandWales 2023-05-31 2024-08-31
Registered number: 14905527
The Loft Vintage & Antiques Ltd
Unaudited Financial Statements
For the Period 31 May 2023 to 31 August 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14905527
31 August 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 8,428
8,428
CURRENT ASSETS
Stocks 5 2,750
Cash at bank and in hand 5,293
8,043
Creditors: Amounts Falling Due Within One Year 6 (22,185 )
NET CURRENT ASSETS (LIABILITIES) (14,142 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,714 )
NET LIABILITIES (5,714 )
CAPITAL AND RESERVES
Called up share capital 7 2
Profit and Loss Account (5,716 )
SHAREHOLDERS' FUNDS (5,714)
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For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Bottomer
Director
20 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Loft Vintage & Antiques Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14905527 . The registered office is Brewery Street Shopping Centre, Brewery Street, Rugeley, WS15 2DY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 31 May 2023 -
Additions 10,634
As at 31 August 2024 10,634
Depreciation
As at 31 May 2023 -
Provided during the period 2,206
As at 31 August 2024 2,206
Net Book Value
As at 31 August 2024 8,428
As at 31 May 2023 -
5. Stocks
31 August 2024
£
Stock 2,750
6. Creditors: Amounts Falling Due Within One Year
31 August 2024
£
Trade creditors 180
Net wages 115
Other creditors 10,580
Traders account 820
Accruals and deferred income 3,596
Directors' loan accounts 6,894
22,185
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7. Share Capital
31 August 2024
Allotted, called up and fully paid £
2 Ordinary Shares of £ 1.00 each 2
8. Related Party Transactions
Foregate Street Vintage Emporium Ltd
A company in which Mr Bottomer and Mr Byrne are also directors.
At the balance sheet date there is an oustanding loan payable to Foregate Street Vintage Emporium Ltd of £10,580.
This is a company that is under common directorship.
9. Ultimate Controlling Party
The company's ultimate controlling party are Mr P Bottomer and Mr C Byrne by virtue of their ownership of 100% of the issued share capital in the company.
10. Going concern
Total liabilities exceed total assets however, the company is able to meet any liabilities that may fall due. 
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