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REGISTERED NUMBER: 00717516 (England and Wales)





























Unaudited Financial Statements for the Year Ended 31 October 2024

for

R.L. Lovatt Limited

R.L. Lovatt Limited (Registered number: 00717516)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R.L. Lovatt Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr Graham Hill
Mrs Deborah Jane Hill
Mr Stuart Hill
Mr Paul William Brockbank
Miss Lucy Alexandra Hill
Mr Lewis Graham Hill


SECRETARY: Mrs Deborah Jane Hill


REGISTERED OFFICE: Manor Street
Bury
Lancashire
BL9 7BL


REGISTERED NUMBER: 00717516 (England and Wales)


ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY


BANKERS: Yorkshire Bank plc
Business Fulfilment Team
Bering House, Mariner Court
Clydebank Business Park
Clydebank
G81 2NR

R.L. Lovatt Limited (Registered number: 00717516)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 458,114 310,237
458,114 310,237

CURRENT ASSETS
Stocks 422,906 340,972
Debtors 6 736,893 776,545
Cash at bank and in hand 1,631,997 644,147
2,791,796 1,761,664
CREDITORS
Amounts falling due within one year 7 (1,207,180 ) (1,347,399 )
NET CURRENT ASSETS 1,584,616 414,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,042,730

724,502

PROVISIONS FOR LIABILITIES 8 (82,886 ) (72,380 )
NET ASSETS 1,959,844 652,122

CAPITAL AND RESERVES
Called up share capital 9 187 187
Capital redemption reserve 563 563
Retained earnings 1,959,094 651,372
SHAREHOLDERS' FUNDS 1,959,844 652,122

R.L. Lovatt Limited (Registered number: 00717516)

Balance Sheet - continued
31 October 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





Miss Lucy Alexandra Hill - Director


R.L. Lovatt Limited (Registered number: 00717516)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

R.L. Lovatt Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill was purchased many years ago and has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


R.L. Lovatt Limited (Registered number: 00717516)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,000
AMORTISATION
At 1 November 2023
and 31 October 2024 1,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

R.L. Lovatt Limited (Registered number: 00717516)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 73,192 113,274 353,008 14,249 553,723
Additions - 18,064 228,126 4,099 250,289
Disposals - - (31,649 ) - (31,649 )
At 31 October 2024 73,192 131,338 549,485 18,348 772,363
DEPRECIATION
At 1 November 2023 9,582 79,005 143,904 10,995 243,486
Charge for year 7,320 6,837 79,910 1,291 95,358
Eliminated on disposal - - (24,595 ) - (24,595 )
At 31 October 2024 16,902 85,842 199,219 12,286 314,249
NET BOOK VALUE
At 31 October 2024 56,290 45,496 350,266 6,062 458,114
At 31 October 2023 63,610 34,269 209,104 3,254 310,237

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 600,611 655,180
Other debtors - 267
VAT 82,742 82,615
Prepayments and accrued income 53,540 38,483
736,893 776,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 593,551 703,828
Tax 233,524 404,957
Social security and other taxes 46,214 33,449
Pension fund 2,167 585
Other creditors 6,299 5,829
R L Lovatt Holdings Limited 87,500 52,000
Accruals 237,925 146,751
1,207,180 1,347,399

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 82,886 72,380

R.L. Lovatt Limited (Registered number: 00717516)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 72,380
Provided during year 10,506
Balance at 31 October 2024 82,886

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
187 Share capital £1 187 187