Steve Lovell Associates Limited 02668234 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the organisation and arrangement of special events Digita Accounts Production Advanced 6.30.9574.0 true true 02668234 2023-10-01 2024-09-30 02668234 2024-09-30 02668234 bus:OrdinaryShareClass1 2024-09-30 02668234 core:RetainedEarningsAccumulatedLosses 2024-09-30 02668234 core:ShareCapital 2024-09-30 02668234 core:CurrentFinancialInstruments 2024-09-30 02668234 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02668234 core:Goodwill 2024-09-30 02668234 core:FurnitureFittings 2024-09-30 02668234 core:MotorVehicles 2024-09-30 02668234 core:PlantMachinery 2024-09-30 02668234 bus:SmallEntities 2023-10-01 2024-09-30 02668234 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02668234 bus:FilletedAccounts 2023-10-01 2024-09-30 02668234 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02668234 bus:RegisteredOffice 2023-10-01 2024-09-30 02668234 bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 02668234 bus:Director3 2023-10-01 2024-09-30 02668234 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 02668234 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02668234 core:Goodwill 2023-10-01 2024-09-30 02668234 core:FurnitureFittings 2023-10-01 2024-09-30 02668234 core:MotorVehicles 2023-10-01 2024-09-30 02668234 core:PlantMachinery 2023-10-01 2024-09-30 02668234 countries:EnglandWales 2023-10-01 2024-09-30 02668234 2023-09-30 02668234 core:Goodwill 2023-09-30 02668234 core:FurnitureFittings 2023-09-30 02668234 core:MotorVehicles 2023-09-30 02668234 core:PlantMachinery 2023-09-30 02668234 2022-10-01 2023-09-30 02668234 2023-09-30 02668234 bus:OrdinaryShareClass1 2023-09-30 02668234 core:RetainedEarningsAccumulatedLosses 2023-09-30 02668234 core:ShareCapital 2023-09-30 02668234 core:CurrentFinancialInstruments 2023-09-30 02668234 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 02668234 core:FurnitureFittings 2023-09-30 02668234 core:MotorVehicles 2023-09-30 02668234 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02668234

Steve Lovell Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Steve Lovell Associates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Steve Lovell Associates Limited

Company Information

Directors

Mr James Robert Tarvin Lovell

Mrs Ann Elizabeth Lovell

Company secretary

Mr James Robert Tarvin Lovell

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Steve Lovell Associates Limited

(Registration number: 02668234)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

48,154

53,625

Current assets

 

Debtors

6

12,994

16,835

Cash at bank and in hand

 

24,091

25,313

 

37,085

42,148

Creditors: Amounts falling due within one year

7

(45,600)

(37,056)

Net current (liabilities)/assets

 

(8,515)

5,092

Total assets less current liabilities

 

39,639

58,717

Provisions for liabilities

(9,998)

(10,918)

Net assets

 

29,641

47,799

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

29,541

47,699

Shareholders' funds

 

29,641

47,799

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

 

Steve Lovell Associates Limited

(Registration number: 02668234)
Balance Sheet as at 30 September 2024

.........................................
Mr James Robert Tarvin Lovell
Company secretary and director

 

Steve Lovell Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the Board on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Steve Lovell Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Motor Vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 5 years

 

Steve Lovell Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Steve Lovell Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

115,000

115,000

At 30 September 2024

115,000

115,000

Amortisation

At 1 October 2023

115,000

115,000

At 30 September 2024

115,000

115,000

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

2,324

434,943

51,959

489,226

Additions

-

10,560

-

10,560

At 30 September 2024

2,324

445,503

51,959

499,786

Depreciation

At 1 October 2023

2,187

390,085

43,329

435,601

Charge for the year

22

13,851

2,158

16,031

At 30 September 2024

2,209

403,936

45,487

451,632

Carrying amount

At 30 September 2024

115

41,567

6,472

48,154

At 30 September 2023

137

44,858

8,630

53,625

 

Steve Lovell Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,004

5,496

Prepayments

5,223

5,412

Other debtors

5,767

5,927

 

12,994

16,835

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,071

5,233

Taxation and social security

29,856

26,150

Accruals and deferred income

5,673

5,673

45,600

37,056

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100