Company registration number 06072278 (England and Wales)
J M LOVERIDGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
J M LOVERIDGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
J M LOVERIDGE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
41,927
309,290
Cash at bank and in hand
447
226
42,374
309,516
Creditors: amounts falling due within one year
4
(40,179)
(109,039)
Net current assets
2,195
200,477
Net assets
2,195
200,477
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,195
199,477
Total equity
2,195
200,477
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 the provisions of FRS102 Section 1A - small entities.
The financial statements were approved by the board of directors and authorised for issue on 5 August 2025 and are signed on its behalf by:
Mr P Didlick
Director
Company Registration No. 06072278
J M LOVERIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
J M Loveridge Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ayrton House, Parliament Business Park, Commerce Way, Liverpool, L8 7BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below and have been consistently applied.
1.2
Going concern
The company ceased trade during 2022 and as such the financial statements have therefore been prepared on a basis other than going concern. There is no material difference in the carrying value of the company's net assets on this basis versus on a going concern basis. true
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
J M LOVERIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
Total
1
4
Wages and salaries are recharged to other companies within the group that the employees directly work for.
J M LOVERIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
41,927
308,633
Deferred tax asset
657
41,927
309,290
Amounts owed by group undertakings are unsecured, interest free, and repayable on demand.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
946
12,590
Amounts owed to group undertakings
4,609
Taxation and social security
1,570
8,097
Other creditors
33,054
88,352
40,179
109,039
Amounts owed to group undertakings are unsecured, interest free, and payable on demand.
5
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Laura Leslie BSc FCA
Statutory Auditor:
DSG Audit
Date of audit report:
5 August 2025
J M LOVERIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Related party transactions
The company is exempt from disclosing transactions with group companies that are wholly owned within the same group.
The company was owed £37,251 (2023: £242,097) from group companies within the OBG Holding Limited group which are not 100% owned but have common stakeholders and directors.
The company owes £4,609 (2023: £nil) to group companies within the OBG Holding Limited group which are not 100% owned but have common stakeholders and directors.
7
Ultimate parent company and controlling party
The company is a wholly owned subsidiary of OBG Scientific Division Limited and its ultimate parent company is OBG Holding Limited. The ultimate parent company, which prepares consolidated financial statements, is registered in England and Wales at Ayrton House, 38 Commerce Way, Parliament Business Park, Liverpool, L8 7BA. The parent company also has the same registered office as the ultimate parent company.
The smallest and largest group into which the results of this entity are consolidated is that headed by OBG Holding Limited.
The ultimate controlling party as at the year end 31 December 2024 and up to 31 March 2025 was Mr G F O'Brien. The ultimate controlling party from 1 April 2025 is Mr P M O'Brien.