1 September 2023 false Taxfiler 2024.6 true 08642577business:PrivateLimitedCompanyLtd2023-09-012024-08-31 086425772023-08-31 086425772023-09-012024-08-31 08642577business:AuditExempt-NoAccountantsReport2023-09-012024-08-31 08642577business:FilletedAccounts2023-09-012024-08-31 086425772024-08-31 08642577business:Director12023-09-012024-08-31 08642577business:Director22023-09-012024-08-31 08642577business:Director32023-09-012024-08-31 08642577business:Director42023-09-012024-08-31 08642577business:RegisteredOffice2023-09-012024-08-31 086425772023-08-31 08642577core:WithinOneYear2024-08-31 08642577core:WithinOneYear2023-08-31 08642577core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 08642577core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 08642577core:SharePremiumcore:PreviouslyStatedAmount2024-08-31 08642577core:SharePremiumcore:PreviouslyStatedAmount2023-08-31 08642577core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 08642577core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 08642577core:PreviouslyStatedAmount2024-08-31 08642577core:PreviouslyStatedAmount2023-08-31 08642577business:SmallEntities2023-09-012024-08-31 08642577countries:EnglandWales2023-09-012024-08-31 08642577core:PlantMachinery2023-09-012024-08-31 08642577core:ComputerEquipment2023-09-012024-08-31 08642577core:PlantMachinery2023-08-31 08642577core:ComputerEquipment2023-08-31 08642577core:PlantMachinery2024-08-31 08642577core:ComputerEquipment2024-08-31 08642577core:OtherProvisionsContingentLiabilities2023-08-31 08642577core:OtherProvisionsContingentLiabilities2023-09-012024-08-31 08642577core:OtherProvisionsContingentLiabilities2024-08-31 08642577business:OrdinaryShareClass12023-09-012024-08-31 08642577business:OrdinaryShareClass12022-09-012023-08-31 086425772022-09-012023-08-31 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
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
- 3 -
Love The Sales Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,923 
7,825 
Current assets
Debtors
16,112 
139,272 
Cash at bank and in hand
108,191 
39,284 
124,303 
178,556 
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)
Capital and reserves
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
- 4 -
Love The Sales Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Going concern
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Pension costs
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.
Foreign exchange
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
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.
- 5 -
Love The Sales Limited Notes to the Accounts for the year ended 31 August 2024
4
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 
Depreciation
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 
Net book value
At 31 August 2024
1,759 
1,164 
2,923 
At 31 August 2023
3,901 
3,924 
7,825 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
16,112 
139,272 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
108,550 
166,011 
VAT
40,091 
139,007 
Trade creditors
125,078 
75,765 
Taxes and social security
33,293 
76,445 
Other creditors
351,100 
166,292 
Accruals
111,032 
1,383 
Deferred income
74,940 
75,453 
844,084 
700,356 
7
Provisions for liabilities
£ 
At 1 September 2023
4,634 
Additional provisions made during the period
11,932 
At 31 August 2024
16,566 
Provision is for bad debt.
- 6 -
Love The Sales Limited Notes to the Accounts for the year ended 31 August 2024
8
Share capital
2024 
2023 
£ 
£ 
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 
9
Pension commitments
At the year end 31 August 2024, the company owed £1,102 to Nest (2023: £1,284)
10
Average number of employees
During the year the average number of employees was 6 (2023: 11).
- 7 -