Company No: 07655492 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

Mrs L Kozlowski

SECRETARY

Mrs S London

REGISTERED OFFICE	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL
	United Kingdom

COMPANY NUMBER

07655492 (England and Wales)

CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL

	Note	2021		2020
		£		£
Fixed assets
Intangible assets	3	0		4,000
Tangible assets	4	916		0
		916		4,000
Current assets
Debtors	5	0		742
Cash at bank and in hand		36,427		22,141
		36,427		22,883
Creditors
Amounts falling due within one year	6	( 130,863)		( 126,322)
Net current liabilities		(94,436)		(103,439)
Total assets less current liabilities		(93,520)		(99,439)
Creditors
Amounts falling due after more than one year	7	0		( 18,000)
Net liabilities		( 93,520)		( 117,439)
Capital and reserves
Called-up share capital	8	1		1
Profit and loss account		( 93,521 )		( 117,440 )
Total shareholder's deficit		( 93,520)		( 117,439)

For the financial year ending 30 June 2021 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Luisa Loveday Ltd (registered number: 07655492) were approved and authorised for issue by the Director on 25 March 2022. They were signed on its behalf by:

Mrs L Kozlowski Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Luisa Loveday Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Luisa Loveday Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 4 years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment - 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		3

3. Intangible assets

	Computer software		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 July 2020	10,936		2,018		12,954
Disposals	( 10,936)		( 2,018)		( 12,954)
At 30 June 2021	0		0		0
Accumulated amortisation
At 01 July 2020	6,936		2,018		8,954
Charge for the financial year	1,500		0		1,500
Disposals	( 8,436)		( 2,018)		( 10,454)
At 30 June 2021	0		0		0
Net book value
At 30 June 2021	0		0		0
At 30 June 2020	4,000		0		4,000

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 July 2020	662		662
Additions	998		998
Disposals	( 662)		( 662)
At 30 June 2021	998		998
Accumulated depreciation
At 01 July 2020	662		662
Charge for the financial year	82		82
Disposals	( 662)		( 662)
At 30 June 2021	82		82
Net book value
At 30 June 2021	916		916
At 30 June 2020	0		0

5. Debtors

	2021		2020
	£		£
Other debtors	0		742

6. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	0		166
Other creditors	123,431		126,156
Other taxation and social security	7,432		0
	130,863		126,322

7. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	0		18,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

9. Related party transactions

At the year end, the company owed the director £121,114 (2020: £125,655). This amount is shown in other creditors.