Look to Buy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05523089

Look to Buy Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Look to Buy Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	14,560	2,734
Tangible assets	6	29,113	40,898
		--------	--------
		43,673	43,632

Current assets

Debtors	7	69,057	88,911
Cash at bank and in hand		227,612	301,523
		---------	---------
		296,669	390,434

Creditors: amounts falling due within one year	8	112,321		117,898
		---------		---------
Net current assets			184,348	272,536
			---------	---------
Total assets less current liabilities			228,021	316,168

Creditors: amounts falling due after more than one year	9		4,394	14,789

Provisions

Deferred taxation	6,906	5,391
	---------	---------
Net assets	216,721	295,988
	---------	---------

Capital and reserves

Called up share capital	125	125
Profit and loss account	216,596	295,863
	---------	---------
Shareholders funds	216,721	295,988
	---------	---------

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 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 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 .

Look to Buy Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

J N Brammar

Director

Company registration number: 05523089

Look to Buy Limited

Notes to the Financial Statements

Year ended 31 December 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 Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover is measured at the fair value of the consideration received or receivable for services rendered during the year, stated net of discounts and of value added tax. In respect of long-term contracts and contracts for ongoing services, the value of work carried out in the year is included by reference to the stage of completion.

Taxation

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property improvements	-	15% straight line
Fixtures and fittings	-	25% reducing balance
Office equipment	-	33% straight line

Government grants

Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Defined contribution pension plans

The company makes contributions to the personal pension schemes of the directors and certain employees. The annual contributions payable are recognised as an expense in the period in which the related services are provided

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).

5. Intangible assets

	Website
	£
Cost
At 1 January 2024	204,242
Additions	14,560
	---------
At 31 December 2024	218,802
	---------
Amortisation
At 1 January 2024	201,508
Charge for the year	2,734
	---------
At 31 December 2024	204,242
	---------
Carrying amount
At 31 December 2024	14,560
	---------
At 31 December 2023	2,734
	---------

6. Tangible assets

	Leasehold property improvements	Fixtures and fittings	Office equipment	Total
	£	£	£	£
Cost
At 1 January 2024	69,956	872	14,879	85,707
Disposals	–	–	( 3,249)	( 3,249)
	--------	----	--------	--------
At 31 December 2024	69,956	872	11,630	82,458
	--------	----	--------	--------
Depreciation
At 1 January 2024	30,832	504	13,473	44,809
Charge for the year	10,494	92	690	11,276
Disposals	–	–	( 2,740)	( 2,740)
	--------	----	--------	--------
At 31 December 2024	41,326	596	11,423	53,345
	--------	----	--------	--------
Carrying amount
At 31 December 2024	28,630	276	207	29,113
	--------	----	--------	--------
At 31 December 2023	39,124	368	1,406	40,898
	--------	----	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	51,780	57,372
Other debtors	17,277	31,539
	--------	--------
	69,057	88,911
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans	10,397	10,141
Trade creditors	40,196	41,108
Social security and other taxes	56,951	62,036
Other creditors	4,777	4,613
	---------	---------
	112,321	117,898
	---------	---------

The bank loan is secured under the Bounce Bank Loan Scheme.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans	4,394	14,789
	-------	--------

The bank loan is secured under the Bounce Back Loan Scheme.

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	6,906	5,391
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	6,906	5,391
	-------	-------

11. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2024	2023
	£	£

Recognised in other operating income:

Government grants recognised directly in income	–	20,000
	----	--------

12. Directors' advances, credits and guarantees

J N Brammer maintains a loan account with the company. At the start of the year, the director owed the company £3,569 (2023: £1,785 was owed to the director). During the year, the director received advances of £73,894 (2023: £86,634) and made repayments of £70,562 (2023: £81,280), including loan interest charges of £58 (2023: £96). At the reporting date, the director owed the company £6,091. J A Brammer maintains a loan account with the company. At the start of the year, the director owed the company £15,096 (2023: £14,397). During the year, the director received advances of £95,205 (2023: £72,952) and made repayments of £113,072 (2023: £72,253), including loan interest charges of £92 (2023: £468). At the reporting date, the company owed the director £2,771. Loans to the directors are unsecured and repayable on demand.