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Registered number: 13512409
Love's Independent Funeral Directors Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13512409
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 228,799 246,801
228,799 246,801
CURRENT ASSETS
Debtors 5 8,160 34,842
Cash at bank and in hand 102,951 56,866
111,111 91,708
Creditors: Amounts Falling Due Within One Year 6 (363,530 ) (374,087 )
NET CURRENT ASSETS (LIABILITIES) (252,419 ) (282,379 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,620 ) (35,578 )
NET LIABILITIES (23,620 ) (35,578 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (23,720 ) (35,678 )
SHAREHOLDERS' FUNDS (23,620) (35,578)
For the year ending 31 December 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
Mrs L A Simmons
Director
Mr S T Love
Director
Mr C S Simmons
Director
17 February 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Love's Independent Funeral Directors Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.  The policies adopted for the recognition of turnover are as follows:
Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services provided during the planning of funeral arrangements are recognised by reference to the stage of completion at the balance sheet date.  Stage of completion is measured by reference to the date the funeral takes place.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
Interest receivable
Interest income is recognised using the effective interest method and is recognised as the company's right to receive payment is established.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Leasehold Over the period of the lease
Plant & Machinery 20% on reducing balance
Motor Vehicles 10% & 20% on reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment Straight line over 3 years
2.4. Leasing and Hire Purchase Contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. 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.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate to.
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Page 3
2.7. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 109,978 46,717 180,459 2,698
Additions - 2,166 - -
Disposals - (1,560 ) - -
As at 31 December 2024 109,978 47,323 180,459 2,698
Depreciation
As at 1 January 2024 18,330 16,730 59,590 991
Provided during the period 9,165 6,231 1,960 540
Disposals - (562 ) - -
As at 31 December 2024 27,495 22,399 61,550 1,531
Net Book Value
As at 31 December 2024 82,483 24,924 118,909 1,167
As at 1 January 2024 91,648 29,987 120,869 1,707
Computer Equipment Total
£ £
Cost
As at 1 January 2024 5,086 344,938
Additions 631 2,797
Disposals - (1,560 )
As at 31 December 2024 5,717 346,175
Depreciation
As at 1 January 2024 2,496 98,137
Provided during the period 1,905 19,801
Disposals - (562 )
As at 31 December 2024 4,401 117,376
Net Book Value
As at 31 December 2024 1,316 228,799
As at 1 January 2024 2,590 246,801
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,028 30,715
Prepayments and accrued income 4,132 4,127
8,160 34,842
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,480 7,041
Other taxes and social security 1,424 1,056
Other creditors 233 156
Accruals and deferred income 2,780 3,697
Directors' loan accounts 356,613 362,137
363,530 374,087
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
8. Capital Commitments
Total financial commitments, guarentees and contingencies which are not included in the balance sheet amount to £42,500 (2023: £12,500).
Going concern
As at 31 December 2024 the company had net liabilities of £23,620 (2023 - £35,578) The directors will continue to support the company for the foreseeable future and are confident the company will return to a solvent position.
Page 4