REGISTERED NUMBER: 02996700 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

Lovetts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G P McCulloch

C H Wilson

M J Higgins

A B Dancy

C D Earl-Anderson

SECRETARY:

C H Wilson

REGISTERED OFFICE:

Bramley House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

REGISTERED NUMBER:

02996700 (England and Wales)

ACCOUNTANTS:

Turner Hampton

Chartered Certified Accountants

238 Station Road

Addlestone

Surrey

KT15 2PS

FIXED ASSETS

Property, plant and equipment

4

47,295

9,983

CURRENT ASSETS

Debtors

5

836,688

723,681

Cash at bank and in hand

470,769

1,005,296

1,307,457

1,728,977

CREDITORS

Amounts falling due within one year

6

(472,605

)

(684,837

)

NET CURRENT ASSETS

834,852

1,044,140

TOTAL ASSETS LESS CURRENT LIABILITIES

882,147

1,054,123

CREDITORS

Amounts falling due after more than one year

7

-

(125,505

)

NET ASSETS

882,147

928,618

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

832,147

878,618

882,147

928,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

M J Higgins - Director

1.	STATUTORY INFORMATION

Lovetts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Plant and machinery - 20% on cost

Fixtures and fittings - 33% on cost

Computer equipment - 33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 34 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2024

17,897

2,956

57,006

77,859

Additions

-

47,124

-

47,124

At 31 July 2025

17,897

50,080

57,006

124,983

DEPRECIATION

At 1 August 2024

13,733

2,956

51,187

67,876

Charge for year

1,976

3,927

3,909

9,812

At 31 July 2025

15,709

6,883

55,096

77,688

NET BOOK VALUE

At 31 July 2025

2,188

43,197

1,910

47,295

At 31 July 2024

4,164

-

5,819

9,983

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

771,801

662,565

Other debtors

64,887

61,116

836,688

723,681

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans and overdrafts

-

158,835

Trade creditors

4,828

1,935

Taxation and social security

258,066

309,679

Other creditors

209,711

214,388

472,605

684,837

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans

-

125,505

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.25

31.7.24

£

£

Within one year

84,900

84,900

Between one and five years

7,075

91,975

91,975

176,875