Lingerie By Victoria Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Lingerie By Victoria Ltd

(Registration number: 05977195)
Statement of Financial Position as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	559	788
Current assets
Stocks	5	82,283	101,285
Debtors	6	-	962
Cash at bank and in hand		3	669
		82,286	102,916
Creditors: Amounts falling due within one year	7	(166,002)	(158,030)
Net current liabilities		(83,716)	(55,114)
Total assets less current liabilities		(83,157)	(54,326)
Creditors: Amounts falling due after more than one year	7	(23,598)	(27,910)
Net liabilities		(106,755)	(82,236)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(106,756)	(82,237)
Shareholders' deficit		(106,755)	(82,236)

Lingerie By Victoria Ltd

(Registration number: 05977195)
Statement of Financial Position as at 28 February 2025 (continued)

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 8 January 2026
 

Mrs V J Fielding Director

Lingerie By Victoria Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is retail sales of lingerie.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

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 validity of this assumption depends on the continued support from the company's directors.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current
assets.

The directors continue to support the company and believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Lingerie By Victoria Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fittings, fixtures, and equipment	15% reducing balance
Computer Equipment	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Lingerie By Victoria Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 March 2024	449	2,526	2,975
At 28 February 2025	449	2,526	2,975
Depreciation
At 1 March 2024	372	1,815	2,187
Charge for the year	11	218	229
At 28 February 2025	383	2,033	2,416
Carrying amount
At 28 February 2025	66	493	559
At 29 February 2024	77	711	788

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	82,283	101,285

6

Debtors

	2025 £	2024 £
Trade debtors	-	962
	-	962

Lingerie By Victoria Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Due within one year
Loans and borrowings		5,328	9,216
Trade creditors		4,444	9,820
Taxation and social security		16,180	8,322
Accruals and deferred income		2,188	1,990
Other creditors		137,862	128,682
		166,002	158,030

Creditors: amounts falling due after more than one year

		2025 £	2024 £
Due after one year
Loans and borrowings		23,598	27,910

Creditors include bank loans repayable by instalments more than 5 years of £1,329 (2024: £6,645). This is from a Natwest Bounce Back Loan, which has a fixed interest rate of 2.5% pa with monthly repayments until May 2030

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.