Silverfin false false 31/08/2024 01/03/2023 31/08/2024 L Valenzuela 09/02/2021 09 May 2025 The principal activity of the Company during the financial period was providing digital design services from a user experience perspective. 13190512 2024-08-31 13190512 bus:Director1 2024-08-31 13190512 2023-02-28 13190512 core:CurrentFinancialInstruments 2024-08-31 13190512 core:CurrentFinancialInstruments 2023-02-28 13190512 core:ShareCapital 2024-08-31 13190512 core:ShareCapital 2023-02-28 13190512 core:RetainedEarningsAccumulatedLosses 2024-08-31 13190512 core:RetainedEarningsAccumulatedLosses 2023-02-28 13190512 core:OtherPropertyPlantEquipment 2023-02-28 13190512 core:OtherPropertyPlantEquipment 2024-08-31 13190512 2023-03-01 2024-08-31 13190512 bus:FilletedAccounts 2023-03-01 2024-08-31 13190512 bus:SmallEntities 2023-03-01 2024-08-31 13190512 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-08-31 13190512 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-08-31 13190512 bus:Director1 2023-03-01 2024-08-31 13190512 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-03-01 2024-08-31 13190512 2022-03-01 2023-02-28 13190512 core:OtherPropertyPlantEquipment 2023-03-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 13190512 (England and Wales)

LV DESIGN LTD

Unaudited Financial Statements
For the financial period from 01 March 2023 to 31 August 2024
Pages for filing with the registrar

LV DESIGN LTD

Unaudited Financial Statements

For the financial period from 01 March 2023 to 31 August 2024

Contents

LV DESIGN LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
LV DESIGN LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 31.08.2024 28.02.2023
£ £
Fixed assets
Tangible assets 3 250 1,000
250 1,000
Current assets
Debtors 4 311 5,346
Cash at bank and in hand 0 243
311 5,589
Creditors: amounts falling due within one year 5 ( 2,123) ( 6,408)
Net current liabilities (1,812) (819)
Total assets less current liabilities (1,562) 181
Net (liabilities)/assets ( 1,562) 181
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 1,662 ) 81
Total shareholder's (deficit)/funds ( 1,562) 181

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of LV Design Ltd (registered number: 13190512) were approved and authorised for issue by the Director. They were signed on its behalf by:

L Valenzuela
Director

09 May 2025

LV DESIGN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 March 2023 to 31 August 2024
LV DESIGN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 March 2023 to 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

LV Design Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
01.03.2023 to
31.08.2024
Year ended
28.02.2023
Number Number
Monthly average number of persons employed by the company during the period, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2023 2,000 2,000
At 31 August 2024 2,000 2,000
Accumulated depreciation
At 01 March 2023 1,000 1,000
Charge for the financial period 750 750
At 31 August 2024 1,750 1,750
Net book value
At 31 August 2024 250 250
At 28 February 2023 1,000 1,000

4. Debtors

31.08.2024 28.02.2023
£ £
Corporation tax 311 0
Other debtors 0 5,346
311 5,346

5. Creditors: amounts falling due within one year

31.08.2024 28.02.2023
£ £
Taxation and social security 0 6,408
Other creditors 2,123 0
2,123 6,408