Jo Loves Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Jo Loves Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07008269 . The registered office is Berkeley Suite 35 Berkeley Square, London, W1J 5BF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the directors, who have confirmed provision of such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

2.3. Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

The company has transferred the significant risks and rewards of ownership to the buyer
The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold
The amount of revenue can be measured reliably
It is probable that the company will receive the consideration due under the transaction
The costs incurred or to be incurred in respect of the transaction can be measured reliably

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Website - 33% Straight line

Trademarks - 5% straight line

Software licence - 33% Straight line

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	over the period of the lease
Fixtures & Fittings	10% Straight line
Computer Equipment	33% Straight line

2.6. Leasing and Hire Purchase Contracts

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

At 30 June 2025 the company had the following future minimum lease payments under non‑cancellable operating leases as lessee:

Within 1 year: £60,000 (2024: 60,000); Between 2 to 5 years: £45,000 ( 2024: 165,000)

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Jo Loves Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.7. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8. Foreign Currencies

Functional and presentation currency

The company’s functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end, foreign currency monetary items are translated using the closing rate. Non‑monetary items measured at historical cost are translated using the exchange rate at the date of the transaction, and non‑monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period‑end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2024: 28)

4. Intangible Assets

	Other Intangible Assets
	£
Cost
As at 1 July 2024	88,704
Additions	59,650

As at 30 June 2025	148,354

Amortisation
As at 1 July 2024	8,705
Provided during the period	46,551

As at 30 June 2025	55,256

Net Book Value
As at 30 June 2025	93,098

As at 1 July 2024	79,999

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Jo Loves Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 July 2024	378,547	14,617	29,695	422,859
Additions	-	-	4,271	4,271
Disposals	-	(961 )	-	(961 )

As at 30 June 2025	378,547	13,656	33,966	426,169

Depreciation
As at 1 July 2024	335,497	11,382	17,707	364,586
Provided during the period	15,464	1,155	6,131	22,750
Disposals	-	(1,025 )	-	(1,025 )

As at 30 June 2025	350,961	11,512	23,838	386,311

Net Book Value
As at 30 June 2025	27,586	2,144	10,128	39,858

As at 1 July 2024	43,050	3,235	11,988	58,273

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	3,609	9,591
Other debtors	194,434	1,029,354

	198,043	1,038,945

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	619,545	1,200,207
Other creditors	2,691,385	3,050,183
Taxation and social security	57,864	75,501

	3,368,794	4,325,891

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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Jo Loves Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

9. Related Party Transactions

Included within other creditor is an amount of £543,450 (2024 - £683,816 other debtor) owed to Jo Loves (Wholesale) Limited which is related through common control and ownership. This amount is unsecured, interest free and repayable on demand.

Included within other creditors is an amount of £500,955 (2024 - £1,980,452) owed to Gaz & Jo Intellectual Property Holdings Limited which is related through common control and ownership. This amount is unsecured, interest free and repayable on demand.

Included within other creditors is an amount of £1,223,556 (2024 - £675,939) owed to the directors of the company. This amount is unsecured, interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		93,098		79,999
Tangible Assets	5		39,858		58,273

			132,956		138,272
CURRENT ASSETS
Stocks		2,230,289		2,564,504
Debtors	6	198,043		1,038,945
Cash at bank and in hand		278,286		94,882

		2,706,618		3,698,331
Creditors: Amounts Falling Due Within One Year	7	(3,368,794 )		(4,325,891 )

NET CURRENT ASSETS (LIABILITIES)			(662,176 )		(627,560 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(529,220 )		(489,288 )

NET LIABILITIES			(529,220 )		(489,288 )

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			(529,222 )		(489,290 )

SHAREHOLDERS' FUNDS			(529,220)		(489,288)