A & D Lovett Limited - Accounts to registrar (filleted) - small 23.1.2

A & D Lovett Limited - Accounts to registrar (filleted) - small 23.1.2

A & D LOVETT LIMITED - Company Information

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REGISTERED NUMBER: 09728514 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

A & D LOVETT LIMITED
A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A & D LOVETT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2022







DIRECTORS: Mrs J Williams
Miss K A Summers





REGISTERED OFFICE: Unit 1 Walkers Way
High Street
Wombourne
Staffordshire
WV5 9DP





REGISTERED NUMBER: 09728514 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ
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A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Investment property 5 73,144 73,144

Current assets
Debtors 6 742 746
Cash at bank 866 1,108
1,608 1,854
Creditors
Amounts falling due within one year 7 42,536 41,026
Net current liabilities (40,928 ) (39,172 )
Total assets less current liabilities 32,216 33,972

Creditors
Amounts falling due after more than one
year
8
18,185
23,140
Net assets 14,031 10,832

Capital and reserves
Called up share capital 10 100 100
Retained earnings 13,931 10,732
Shareholders' funds 14,031 10,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 notes form part of these financial statements

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A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2022


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 27 April 2023 and were signed on its behalf by:




Mrs J Williams - Director



Miss K A Summers - Director


The notes form part of these financial statements

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A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022


1. STATUTORY INFORMATION

A & D Lovett 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

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A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021
and 31 August 2022 73,144
NET BOOK VALUE
At 31 August 2022 73,144
At 31 August 2021 73,144

The property owned by the company, Unit 1 Walkers Way, High Street, Wombourne, WV5 9DP is held
as an investment property and is rented to a business owned by one of the directors.

No formal valuation of the property has been undertaken at the year end, however, the directors are of the opinion that the property is held at a value in the accounts that represents its fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 720 720
Other debtors 22 26
742 746

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 4,872 4,872
Trade creditors 179 181
Taxation and social security 1,088 1,492
Other creditors 36,397 34,481
42,536 41,026

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 18,185 23,140

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,653

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A & D LOVETT LIMITED (REGISTERED NUMBER: 09728514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2022


9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 23,057 28,012

The bank loan is secured by way of a fixed and floating charge over all assets of the company.

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

At the year end the directors were owed £35,606 (2021: £33,746). These loans are interest free and repayable on demand.

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