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REGISTERED NUMBER: 05771543 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

DAVID LOVE LIMITED

DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID LOVE LIMITED

Company Information
for the year ended 31 July 2024







DIRECTOR: D A Love





SECRETARY:





REGISTERED OFFICE: 13 Royal Parade
HARROGATE
North Yorkshire
HG2 0QA





REGISTERED NUMBER: 05771543 (England and Wales)





ACCOUNTANTS: King Hope
31-33 Victoria Road
Darlington
Co. Durham
DL1 5SB

DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 3,040 3,549
3,041 3,550

CURRENT ASSETS
Stocks 251,501 249,472
Debtors 6 27,913 4,254
Cash at bank and in hand 150,426 208,393
429,840 462,119
CREDITORS
Amounts falling due within one year 7 40,968 59,736
NET CURRENT ASSETS 388,872 402,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,913

405,933

CREDITORS
Amounts falling due after more than one
year

8

(8,334

)

(18,334

)

PROVISIONS FOR LIABILITIES (556 ) (648 )
NET ASSETS 383,023 386,951

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 382,923 386,851
SHAREHOLDERS' FUNDS 383,023 386,951

DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)

Balance Sheet - continued
31 July 2024


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 23 April 2025 and were signed by:





D A Love - Director


DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

David Love 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, being the amount paid in connection with the acquisition of a business in 2006, was amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 170,000
AMORTISATION
At 1 August 2023
and 31 July 2024 169,999
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

DAVID LOVE LIMITED (REGISTERED NUMBER: 05771543)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023 9,802
Additions 500
Disposals (293 )
At 31 July 2024 10,009
DEPRECIATION
At 1 August 2023 6,253
Charge for year 972
Eliminated on disposal (256 )
At 31 July 2024 6,969
NET BOOK VALUE
At 31 July 2024 3,040
At 31 July 2023 3,549

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,242 -
Other debtors 1,011 123
Tax 283 1,193
Prepayments 2,377 2,938
27,913 4,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 2,299
Corporation tax - 1,889
Social security and other taxes 51 59
Directors' current account 24,968 42,269
Accrued expenses 5,949 3,220
40,968 59,736

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounceback loan 8,334 18,334

9. OTHER FINANCIAL COMMITMENTS

A dividend for the year of £12,000 was declared on 2 April 2025. (2023 £2,000 on 27 March 2024)