| Hello Lovely Fashion Ltd |
| Accountants' Report |
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| Accountants' report to the director of |
| Hello Lovely Fashion Ltd |
|
| You consider that the company is exempt from an audit for the year ended 30 June 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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| Business Additions Ltd |
| Accountants |
|
| Sandy Farm Business Centre |
| Sands Road |
| The Sands, Farnham |
| Surrey |
| GU10 1PX |
|
| 29 December 2025 |
|
| Hello Lovely Fashion Ltd |
| Notes to the Accounts |
| for the year ended 30 June 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 2 years |
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Fixtures, fittings, tools and equipment |
over 2 years |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 July 2024 |
987 |
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At 30 June 2025 |
987 |
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|
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|
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Depreciation |
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At 1 July 2024 |
329 |
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Charge for the year |
658 |
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At 30 June 2025 |
987 |
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Net book value |
|
At 30 June 2025 |
- |
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At 30 June 2024 |
658 |
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|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
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Other debtors |
5,000 |
|
5,000 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
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Taxation and social security costs |
7,542 |
|
3,140 |
|
Other creditors |
1,417 |
|
3,727 |
|
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|
|
|
|
8,959 |
|
6,867 |
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| 6 |
Other information |
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Hello Lovely Fashion Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Business Additions Ltd |
|
Sandy Farm Business Centre |
|
Farnham |
|
Surrey |
|
GU10 1PX |