REGISTERED NUMBER: 12469134 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

Lovelace Consultancy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

E Dickerson

O Vondervelden

Registered office:

20-22 Wenlock Road

London

N1 7GU

Registered number:

12469134 (England and Wales)

Accountants:

Lexova Accountants Limited

Unit 1 25

CannockChaseEnterpriseCentre

Hednesford

Cannock

Staffordshire

WS12 0QU

FIXED ASSETS

Tangible assets

4

5,577

5,501

CURRENT ASSETS

Debtors

5

71,858

98,917

Cash at bank

15,142

29,937

87,000

128,854

CREDITORS

Amounts falling due within one year

6

140,258

175,498

NET CURRENT LIABILITIES

(53,258

)

(46,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(47,681

)

(41,143

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(47,683

)

(41,145

)

(47,681

)

(41,143

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 7 January 2026 and were signed on its behalf by:

S F A Lidzen - Director

1.	STATUTORY INFORMATION

Lovelace Consultancy 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

Turnover 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.

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.

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.

Going concern

The director had considered the company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

The company is a wholly owned subsidiary of Lovelace (Malta) Holding Ltd, which is incorporated in Malta. The company is dependent on the continued financial support of its parent undertaking in order to meet its liabilities as they fall due.

The director had received confirmation that Lovelace (Malta) Holding Ltd will continue to provide financial support to the company for the foreseeable future. Accordingly, the director is satisfied that the company will be able to continue in operational existence for the foreseeable future.

On this basis, the director has prepared the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

8,870

Additions

1,936

At 31 December 2024

10,806

DEPRECIATION

At 1 January 2024

3,369

Charge for year

1,860

At 31 December 2024

5,229

NET BOOK VALUE

At 31 December 2024

5,577

At 31 December 2023

5,501

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

20,000

19,894

Other debtors

51,858

79,023

71,858

98,917

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

609

-

Amounts owed to group undertakings

147,179

154,426

Taxation and social security

(18,860

)

10,024

Other creditors

11,330

11,048

140,258

175,498

7.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the directors resigned in April 2025 and a new director was appointed. These changes do not affect the financial position of the company at 31 December 2024.