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REGISTERED NUMBER: 13490173 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

M J Loveday & Son Limited

M J Loveday & Son Limited (Registered number: 13490173)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M J Loveday & Son Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr M J Loveday





REGISTERED OFFICE: Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL





REGISTERED NUMBER: 13490173 (England and Wales)





ACCOUNTANTS: BPSL
Brooms Professional Services Limited
Chartered Certified Accountants
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL

M J Loveday & Son Limited (Registered number: 13490173)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 13,497 347

CURRENT ASSETS
Stocks 340,537 340,537
Debtors 5 - 231
Cash at bank 8,707 954
349,244 341,722
CREDITORS
Amounts falling due within one year 6 357,494 356,890
NET CURRENT LIABILITIES (8,250 ) (15,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,247

(14,821

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,147 (14,921 )
5,247 (14,821 )

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2025 and were signed by:





Mr M J Loveday - Director


M J Loveday & Son Limited (Registered number: 13490173)

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

1. STATUTORY INFORMATION

M J Loveday & Son 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

M J Loveday & Son Limited (Registered number: 13490173)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1 August 2023 148 - 354 502
Additions - 14,775 - 14,775
At 31 July 2024 148 14,775 354 15,277
DEPRECIATION
At 1 August 2023 51 - 104 155
Charge for year 24 1,539 62 1,625
At 31 July 2024 75 1,539 166 1,780
NET BOOK VALUE
At 31 July 2024 73 13,236 188 13,497
At 31 July 2023 97 - 250 347

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors - 109
VAT - 122
- 231

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 7,215 1
VAT 644 -
Directors' current accounts 348,235 355,539
Accrued expenses 1,400 1,350
357,494 356,890