Company No: 05168257 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Richard John Canterbury
	Simon Charles Edward Barrington Hulme

REGISTERED OFFICE	3 Huxley Road
	Surrey Research Park
	Guildford
	GU2 7RE
	United Kingdom

COMPANY NUMBER

05168257 (England and Wales)

ACCOUNTANT	Praxis
	1 Fore Street Avenue
	London
	EC2Y 9DT
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	7,788		52,116
Tangible assets	4	78,424		102,985
		86,212		155,101
Current assets
Stocks	5	696,492		775,943
Debtors	6	1,587,269		1,174,269
Cash at bank and in hand		1,706,393		1,624,791
		3,990,154		3,575,003
Creditors: amounts falling due within one year	7	( 1,199,484)		( 1,366,913)
Net current assets		2,790,670		2,208,090
Total assets less current liabilities		2,876,882		2,363,191
Provision for liabilities		( 14,023)		( 18,759)
Net assets		2,862,859		2,344,432
Capital and reserves
Called-up share capital	8	181		181
Share premium account		217,157		217,157
Profit and loss account		2,645,521		2,127,094
Total shareholder's funds		2,862,859		2,344,432

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Love Struck (F&B) Limited (registered number: 05168257) were approved and authorised for issue by the Board of Directors on 19 September 2025. They were signed on its behalf by:

Richard John Canterbury Director

1. Accounting policies

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

General information and basis of accounting

Love Struck (F&B) Limited (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 3 Huxley Road, Surrey Research Park, Guildford, GU2 7RE, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Other intangible assets	4 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Separately acquired trademarks are included at cost and amortised in two ways. Some are amortised in equal annual instalments over a period of 4 years which is their estimated useful economic life. Provision is made for any impairment.

Campaign design, website development and branding costs are initially recognised at cost. After recognition, under the cost model, they are measured at cost less any accumulated amortisation and any accumulated impairment losses. They are amortised on a reducing balance basis at 25%.

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	4 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance
	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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		9

3. Intangible assets

	Goodwill		Other intangible assets		Total
	£		£		£
Cost
At 01 January 2024	4,000		112,809		116,809
Disposals	( 4,000)		( 80,682)		( 84,682)
At 31 December 2024	0		32,127		32,127
Accumulated amortisation
At 01 January 2024	1,633		63,060		64,693
Charge for the financial year	400		14,361		14,761
Disposals	( 2,033)		( 53,082)		( 55,115)
At 31 December 2024	0		24,339		24,339
Net book value
At 31 December 2024	0		7,788		7,788
At 31 December 2023	2,367		49,749		52,116

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2024	21,019		106,195		6,764		133,978
Additions	4,991		0		708		5,699
Disposals	( 13,017)		0		( 2,063)		( 15,080)
At 31 December 2024	12,993		106,195		5,409		124,597
Accumulated depreciation
At 01 January 2024	13,553		15,487		1,953		30,993
Charge for the financial year	3,247		22,677		1,330		27,254
Disposals	( 10,641)		0		( 1,433)		( 12,074)
At 31 December 2024	6,159		38,164		1,850		46,173
Net book value
At 31 December 2024	6,834		68,031		3,559		78,424
At 31 December 2023	7,466		90,708		4,811		102,985

5. Stocks

	2024		2023
	£		£
Stocks	696,492		775,943

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

	2024		2023
	£		£
Trade debtors	806,055		781,450
Amounts owed by Group undertakings	579,971		243,437
Other debtors	201,243		149,382
	1,587,269		1,174,269

Amounts owed by group undertakings are repayable on demand and do not bear interest.

At the beginning of the year, included in other debtors was a loan due from a shareholder of £29,950. During the year, the shareholder was advanced an additional £13,750 by the company. Interest of £854 accrued on the outstanding balance during the year. At the year end, the amount owed by the shareholder was £44,554 (2023: £29,950).

The loan is unsecured, bears interest at 2.25% per annum, and is repayable on demand.

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	496,452		647,168
Amounts owed to Parent undertakings	93,345		32,220
Taxation and social security	258,698		106,864
Other creditors	350,989		580,661
	1,199,484		1,366,913

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,812 Ordinary shares of £ 0.10 each	181		181

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	66,000		29,275
between one and five years	121,000		3,600
after five years	0		2,175
	187,000		35,050

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,348		1,931

The Company had no material capital commitments at the year ended 31 December 2024.

10. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.