1.
General Information
Love Creative Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04207025
. The registered office is 3rd Floor, 31 Dale Street, Manchester, M1 1EY.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
Statement of Compliance
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.
2.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. As a result the financial statements have been prepared on a going concern basis.
2.3.
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services to customers. Turnover is recognised when services are rendered to the customer.
2.4.
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:
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Leasehold improvements
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- 20% straight line
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Office equipment
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- 33% straight line
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Fixtures and fittings
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- 20% straight line
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Computer equipment
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- 33% straight line
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Assets not yet in use are not being depreciated.
2.5.
Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6.
Financial Instruments
The company accounts for financial instruments under Sections 11 and 12 of FRS 102.
Financial assets
Basic financial assets, including trade debtors, other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried forward at amortised cost using the effective interest method.
There are no assets which are initially measure at fair value.
Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for good or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measure at amortied cost using the effective interest method.
Love Creative Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.
2.9.
Pensions
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.
2.10.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2.11.
Work-in-progress
Work-in-progress relates to costs incurred on a project, either if the project is completed or reached a certain stage, it will then be transferred to the profit and loss.
Love Creative Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 64 (2024: 70)
4.
Tangible Assets
| Leasehold Improvements | Office Equipment | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 January 2025 |
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| Additions |
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| As at 31 December 2025 |
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| Depreciation | |||||
| As at 1 January 2025 |
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| Provided during the period |
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| As at 31 December 2025 |
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| Net Book Value | |||||
| As at 31 December 2025 |
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| As at 1 January 2025 |
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5.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Work in progress |
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6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 1,230,715 | 559,604 | |
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7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other creditors | 890,872 | 1,099,085 | |
| Taxation and social security |
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Love Creative Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
8.
Share Capital
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
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Alloted, issued and fully paid:
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Number:
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Class:
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Nominal value:
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2025
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2024
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£
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£
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143
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A ordinary
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£1
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143
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143
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125
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C ordinary
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£1
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125
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125
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120
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F ordinary
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£1
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120
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120
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151
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G ordinary
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£1
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151
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151
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|
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143
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H ordinary
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£1
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143
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143
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|
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40
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I ordinary
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£1
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40
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40
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1
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J ordinary
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£1
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1
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1
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|
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245
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K ordinary
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£1
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245
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245
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328
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L ordinary
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£1
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328
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328
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|
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464
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M ordinary
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£1
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464
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464
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120
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N ordinary
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£1
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120
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120
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1,880
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1,880
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All shares are ranked pari passu
9.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
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| Later than one year and not later than five years |
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10.
Pension Commitments
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £303,279 (2024 - £316,754).
Contributions totalling £27,199 (2024 - £26,218) were payable to the schemes at the end of the year and are included in creditors.
11.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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During the year, dividends of £1,001,335 were paid (2024 - £1,835,739).
Love Creative Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
12.
Post Balance Sheet Events
Subsequent to the year end, the company repurchased and cancelled 96 F ordinary shares and 96 N ordinary shares.
The company also redeemed and cancelled 245 K ordinary shares, 328 L ordinary shares and 464 M ordinary shares.
The transactions have not been reflected in the financial statements as it occurred after the reporting date.
13.
Related Party Transactions
During the year, directors had advances and credits of £1,602,697 and £1,605,370 respectively. At 31 December 2025 the amount outstanding in respect of advances to directors was £nil (2024 - £2,673).