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COMPANY REGISTRATION NUMBER: 12830386
LUVAQUOTE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDING
31 August 2024
LUVAQUOTE LTD
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
CURRENT ASSETS
Debtors
5
26,875
18,416
CREDITORS: amounts falling due within one year
6
26,373
17,991
---------
---------
NET CURRENT ASSETS
502
425
-----
-----
TOTAL ASSETS LESS CURRENT LIABILITIES
502
425
-----
-----
NET ASSETS
502
425
-----
-----
LUVAQUOTE LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2024
2024
2023
Note
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
402
325
-----
-----
SHAREHOLDERS FUNDS
502
425
-----
-----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:
Mrs Lowe
Director
Company registration number: 12830386
LUVAQUOTE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Mannin Way, Lancaster Business Park, Caton Road, Lancaster, LA1 3SW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: Nil).
5. DEBTORS
2024
2023
£
£
Other debtors
26,875
18,416
---------
---------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,046
2,996
Corporation tax
18,088
12,099
Social security and other taxes
1,942
Other creditors
3,297
2,896
---------
---------
26,373
17,991
---------
---------
7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The Directors have a loan account in the company. At the end of the year there was an overdrawn directors loan account of £26,875 (£18,416 in 2023)which is included in debtors.
8. RELATED PARTY TRANSACTIONS
Mr A J Lowe and Mrs L C Lowe were directors and shareholders of Website UK Ltd (company number: 06828596). Website UK Ltd is currently in liquidation, therefore, the debtors balance of £1,333 has been written off to the profit and loss account as a bad debt at the end of the year (£26,294 in 2023).