Love To Sew Ltd - Filleted accounts

Love To Sew Ltd
Registered number:		08347832
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Current assets
Stocks		500			500
Debtors	4	-			(3,000)
Cash at bank and in hand		75,116			84,914
		75,616			82,414

Creditors: amounts falling due within one year	5	6,165			(7,135)

Net current assets			81,781			75,279

Net assets			81,781			75,279

Capital and reserves
Called up share capital			100			100
Profit and loss account			81,681			75,179

Shareholder's funds			81,781			75,279

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Sue Brewer
Director
Approved by the board on 8 September 2025

Love To Sew Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	1		2


3	Intangible fixed assets			£
	Goodwill:

	Cost
	At 1 January 2024			15,000
	At 31 December 2024			15,000

	Amortisation
	At 1 January 2024			15,000
	At 31 December 2024			15,000

	Net book value
	At 31 December 2024			-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Debtors	2024		2023
£			£

	Other debtors	-		(3,000)


5	Creditors: amounts falling due within one year	2024		2023
£			£

	Trade creditors	1,436		2,279
	Corporation tax	5,080		3,464
	Other taxes and social security costs	80		-
	Other creditors	(12,761)		1,392
		(6,165)		7,135


6	Other information

	Love To Sew Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 11 Broadgate House
	Westlode Street
	Spalding
	Lincs
	PE11 2AF