Company registration number 01859736 (England and Wales)
LOVE AND TATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
LOVE AND TATE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
LOVE AND TATE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,500
15,000
Tangible assets
4
2,332
3,862
9,832
18,862
Current assets
Debtors
5
449,683
660,989
Cash at bank and in hand
11,959
33,154
461,642
694,143
Creditors: amounts falling due within one year
6
(277,039)
(449,764)
Net current assets
184,603
244,379
Total assets less current liabilities
194,435
263,241
Creditors: amounts falling due after more than one year
7
(44,057)
(296,906)
Net assets/(liabilities)
150,378
(33,665)
Capital and reserves
Called up share capital
8
466,001
205,001
Profit and loss reserves
(315,623)
(238,666)
Total equity
150,378
(33,665)

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The director acknowledges thei r responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 October 2025 and are signed on its behalf by:
M Y Love
Director
Company Registration No. 01859736
LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

Love and Tate Limited is a private company limited by shares incorporated in England and Wales. The registered office is 128 City Road, London, EC1V 2NX.

The principal activity of the company continues to be that of recruitment consultancy and business skills training.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover represents amounts receivable for recruitment and staffing services net of VAT.

Revenue from contracts for the provision of temporary staff services is recognised by reference to hours incurred in a given period at pre agreed contractual rates. Revenue from permanent and term contract recruitment services is recognised at the point of agreed placement or as otherwise stated by individual contracts. Revenue from the provision of training services is recognised on contractual agreement to the terms of service.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Franchise fee
Over 5 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% straight line
Fixtures, fittings & equipment
20% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.

Financial instruments are recognised in the company's statement of financial position 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.

LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, 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 paymen ts 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. A m ounts 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.

1.9
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.

1.10
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.13
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 lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
11
3
Intangible fixed assets
Franchise fee
£
Cost
At 1 February 2024 and 31 January 2025
37,500
Amortisation and impairment
At 1 February 2024
22,500
Amortisation charged for the year
7,500
At 31 January 2025
30,000
Carrying amount
At 31 January 2025
7,500
At 31 January 2024
15,000
LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024 and 31 January 2025
19,915
Depreciation and impairment
At 1 February 2024
16,053
Depreciation charged in the year
1,530
At 31 January 2025
17,583
Carrying amount
At 31 January 2025
2,332
At 31 January 2024
3,862
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
405,098
575,786
Other debtors
-
0
8,400
Prepayments and accrued income
44,585
76,803
449,683
660,989
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,372
5,238
Trade creditors
25,263
18,640
Taxation and social security
165,129
287,825
Other creditors
73,436
110,272
Accruals and deferred income
7,839
27,789
277,039
449,764
LOVE AND TATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
29,557
35,906
Other creditors
14,500
261,000
44,057
296,906
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
205,001
205,001
205,001
205,001
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
261,000
0
261,000
-
0
Preference shares classified as equity
261,000
-
Total equity share capital
466,001
205,001

During the year 261,000 preference shares of £1 each were issued at par.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
-
0
-
0
2025-01-31 2024-02-01 false false false CCH Software CCH Accounts Production 2025.300 No description of principal activity M Y Love 01859736 2024-02-01 2025-01-31 01859736 2025-01-31 01859736 2024-01-31 01859736 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2025-01-31 01859736 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-31 01859736 core:OtherPropertyPlantEquipment 2025-01-31 01859736 core:OtherPropertyPlantEquipment 2024-01-31 01859736 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 01859736 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01859736 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 01859736 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 01859736 core:CurrentFinancialInstruments 2025-01-31 01859736 core:CurrentFinancialInstruments 2024-01-31 01859736 core:Non-currentFinancialInstruments 2025-01-31 01859736 core:Non-currentFinancialInstruments 2024-01-31 01859736 core:ShareCapital 2025-01-31 01859736 core:ShareCapital 2024-01-31 01859736 core:RetainedEarningsAccumulatedLosses 2025-01-31 01859736 core:RetainedEarningsAccumulatedLosses 2024-01-31 01859736 core:ShareCapitalOrdinaryShareClass1 2025-01-31 01859736 core:ShareCapitalOrdinaryShareClass1 2024-01-31 01859736 core:ShareCapitalPreferenceShareClass1 2025-01-31 01859736 core:ShareCapitalPreferenceShareClass1 2024-01-31 01859736 bus:Director1 2024-02-01 2025-01-31 01859736 core:IntangibleAssetsOtherThanGoodwill 2024-02-01 2025-01-31 01859736 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-02-01 2025-01-31 01859736 core:PlantMachinery 2024-02-01 2025-01-31 01859736 core:FurnitureFittings 2024-02-01 2025-01-31 01859736 2023-02-01 2024-01-31 01859736 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-31 01859736 core:OtherPropertyPlantEquipment 2024-01-31 01859736 core:OtherPropertyPlantEquipment 2024-02-01 2025-01-31 01859736 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 01859736 bus:PreferenceShareClass1 2024-02-01 2025-01-31 01859736 bus:OrdinaryShareClass1 2025-01-31 01859736 bus:OrdinaryShareClass1 2024-01-31 01859736 bus:PreferenceShareClass1 2025-01-31 01859736 bus:PreferenceShareClass1 2024-01-31 01859736 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 01859736 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 01859736 bus:FRS102 2024-02-01 2025-01-31 01859736 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 01859736 bus:FullAccounts 2024-02-01 2025-01-31 xbrli:pure xbrli:shares iso4217:GBP