Company Registration No. 08642577 (England and Wales)
Love The Sales Limited
Unaudited accounts
for the year ended 31 August 2024
Love The Sales Limited
Unaudited accounts
Contents
Love The Sales Limited
Company Information
for the year ended 31 August 2024
Directors
David Bishop
Stuart McClure
Mark Solomon
Vivek Chandaria
Company Number
08642577 (England and Wales)
Registered Office
Capital Office
124-128 City Road
London
London
EC1V 2NX
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Love The Sales Limited
Statement of financial position
as at 31 August 2024
Tangible assets
2,923
7,825
Cash at bank and in hand
108,191
39,284
Creditors: amounts falling due within one year
(844,084)
(700,356)
Net current liabilities
(719,781)
(521,800)
Total assets less current liabilities
(716,858)
(513,975)
Provisions for liabilities
Other provisions
(16,566)
(4,634)
Net liabilities
(733,424)
(518,609)
Called up share capital
3,279
3,141
Share premium
3,121,793
3,121,793
Profit and loss account
(3,858,496)
(3,643,543)
Shareholders' funds
(733,424)
(518,609)
For the year 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2024 and were signed on its behalf by
Mark Solomon
Director
Company Registration No. 08642577
Love The Sales Limited
Notes to the Accounts
for the year ended 31 August 2024
Love The Sales Limited is a private company, limited by shares, registered in England and Wales, registration number 08642577. The registered office is Capital Office, 124-128 City Road, London, London, EC1V 2NX, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The Directors have prepared the financial statements on a going concern basis, despite the company's negative profit and loss account. This conclusion is based on the Directors' review of the company’s forecasts, cash flow projections, and available financial resources for at least 12 months from the approval date of these financial statements. The Directors are confident in the company's ability to continue trading.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Computer equipment
20% Straight Line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the completion of each transaction.
Love The Sales Limited
Notes to the Accounts
for the year ended 31 August 2024
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
9,728
15,465
25,193
Disposals
(2,860)
(2,430)
(5,290)
At 31 August 2024
6,868
13,035
19,903
At 1 September 2023
5,827
11,541
17,368
Charge for the year
1,323
1,872
3,195
On disposals
(2,041)
(1,542)
(3,583)
At 31 August 2024
5,109
11,871
16,980
At 31 August 2024
1,759
1,164
2,923
At 31 August 2023
3,901
3,924
7,825
Amounts falling due within one year
Accrued income and prepayments
16,112
139,272
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
108,550
166,011
Trade creditors
125,078
75,765
Taxes and social security
33,293
76,445
Other creditors
351,100
166,292
Deferred income
74,940
75,453
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Provisions for liabilities
£
Additional provisions made during the period
11,932
Provision is for bad debt.
Love The Sales Limited
Notes to the Accounts
for the year ended 31 August 2024
Allotted, called up and fully paid:
3,278,913 Ordinary shares of £0.001 each
3,278.91
3,140.55
Shares issued during the period:
138,355 Ordinary shares of £0.001 each
138.35
At the year end 31 August 2024, the company owed £1,102 to Nest (2023: £1,284)
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Average number of employees
During the year the average number of employees was 6 (2023: 11).