I LUV MGNT LTD 31/03/2022 iXBRL

I LUV MGNT LTD 31/03/2022 iXBRL

I LUV MGNT LTD - Company Information

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0 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11755534 2021-04-01 2022-03-31 11755534 2022-03-31 11755534 2021-03-31 11755534 bus:RegisteredOffice 2021-04-01 2022-03-31 11755534 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 11755534 bus:Director1 2021-04-01 2022-03-31 11755534 core:WithinOneYear 2022-03-31 11755534 core:WithinOneYear 2021-03-31 11755534 core:ShareCapital 2022-03-31 11755534 core:ShareCapital 2021-03-31 11755534 core:RetainedEarningsAccumulatedLosses 2022-03-31 11755534 core:RetainedEarningsAccumulatedLosses 2021-03-31 11755534 bus:SmallEntities 2021-04-01 2022-03-31 11755534 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11755534 bus:FullAccounts 2021-04-01 2022-03-31 11755534 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 11755534 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11755534 1 2021-04-01 2022-03-31 11755534 core:AllAssociates 2021-04-01 2022-03-31
Company registration number: 11755534
I LUV MGNT LTD
Unaudited filleted financial statements
31 March 2022
I LUV MGNT LTD
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
I LUV MGNT LTD
Directors and other information
Director Mrs Rachael Bee Samuel
Company number 11755534
Registered office Unit L07, Pop Brixton
49 Brixton Station Road
London
City of England
SW9 8PQ
Business address Unit L07, Pop Brixton
49 Brixton Station Road
London
City of England
SW9 8PQ
Accountants Jacksons
Chartered Accountants
Deansfield House
98 Lancaster Road
Newcastle under Lyme
Staffordshire
ST5 1DS
I LUV MGNT LTD
Statement of financial position
31 March 2022
Note £ £ £ £
Current assets
Debtors 4 5,286 839
Cash at bank and in hand 3,293 13,653
_______ _______
8,579 14,492
Creditors: amounts falling due
within one year 5 ( 8,536) ( 10,909)
_______ _______
Net current assets 43 3,583
_______ _______
Total assets less current liabilities 43 3,583
_______ _______
Net assets 43 3,583
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 42 3,582
_______ _______
Shareholder funds 43 3,583
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 December 2022 , and are signed on behalf of the board by:
Mrs Rachael Bee Samuel
Director
Company registration number: 11755534
I LUV MGNT LTD
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England ad Wales. The address of the registered office is Unit L07, Pop Brixton, 49 Brixton Station Road, London, City of England, SW9 8PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Debtors
£ £
Trade debtors 2,026 839
Other debtors 3,260 -
_______ _______
5,286 839
_______ _______
5. Creditors: amounts falling due within one year
£ £
Corporation tax 6,272 5,832
Social security and other taxes 664 2,663
Other creditors 1,600 2,414
_______ _______
8,536 10,909
_______ _______
6. Events after the end of the reporting period
The directors have considered the impact of the COVID-19 crisis on the business operations and the impact on the financial performance of the company.The directors believe that the company is well placed to manage its business risks despite theuncertain economic outlook.
7. Related party transactions
Mrs Rachael Bee Samuel is a related party by virtue of her directorship of and shareholding in the company.The director has provided the company with an interest free loan such that at the year end the director was owed the sum of £- (2021: £801).
8. Controlling party
The company is under the control of Mrs Rachael Bee Samuel by virtue of her majority shareholding therein.