ACCOUNTS - Final Accounts preparation

LOVE LANE (LIVERPOOL) LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30false21true2021-10-01Development of building projectstrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12190613 2021-10-01 2022-09-30 12190613 2020-10-01 2021-09-30 12190613 2022-09-30 12190613 2021-09-30 12190613 c:Director1 2021-10-01 2022-09-30 12190613 d:Buildings 2021-10-01 2022-09-30 12190613 d:Buildings 2022-09-30 12190613 d:Buildings 2021-09-30 12190613 d:LandBuildings 2022-09-30 12190613 d:LandBuildings 2021-09-30 12190613 d:CurrentFinancialInstruments 2022-09-30 12190613 d:CurrentFinancialInstruments 2021-09-30 12190613 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 12190613 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 12190613 d:ShareCapital 2022-09-30 12190613 d:ShareCapital 2021-09-30 12190613 d:RetainedEarningsAccumulatedLosses 2022-09-30 12190613 d:RetainedEarningsAccumulatedLosses 2021-09-30 12190613 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 12190613 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-09-30 12190613 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2022-09-30 12190613 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2021-09-30 12190613 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-09-30 12190613 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2021-09-30 12190613 c:FRS102 2021-10-01 2022-09-30 12190613 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 12190613 c:FullAccounts 2021-10-01 2022-09-30 12190613 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 12190613

LOVE LANE (LIVERPOOL) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

LOVE LANE (LIVERPOOL) LIMITED

REGISTERED NUMBER: 12190613

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets			68,715		-
			68,715		-
Current assets
Stocks		274,862		-
Debtors: amounts falling due within one year	5	96,913		-
Cash at bank and in hand	6	14,333		100
		386,108		100
Creditors: amounts falling due within one year	7	(454,659)		-
Net current (liabilities)/assets			(68,551)		100
Total assets less current liabilities			164		100

Net assets			164		100

Capital and reserves
Called up share capital	196	100
Profit and loss account	(32)	-
	164	100

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LOVE LANE (LIVERPOOL) LIMITED

REGISTERED NUMBER: 12190613

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J K Waller

Director

Date: 30 June 2023

The notes on pages 3 to 6 form part of these financial statements.

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LOVE LANE (LIVERPOOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.	General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.12190613). The address of the registered office is Unit 5 Turnstone, Mulberry Avenue, Widnes, England, WA8 0WN.
These financial statements present information about the company as an individual undertaking. It is not a member of a group of companies. The principal activity of the company is that of development of building projects.
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property

On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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LOVE LANE (LIVERPOOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 1).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	Additions	68,715
	At 30 September 2022	68,715

	Net book value
	At 30 September 2022	68,715
	At 30 September 2021	-

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LOVE LANE (LIVERPOOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.Tangible fixed assets (continued)

The net book value of land and buildings may be further analysed as follows:
	2022	2021
	£	£

Freehold	68,715	-
	68,715	-

Debtors

					2022	2021
					£	£


Other debtors	96,913	-
	96,913	-

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	14,333	100
	14,333	100

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	204,049	-
Other creditors	250,610	-
	454,659	-

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LOVE LANE (LIVERPOOL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

8.	Financial instruments
		2022	2021
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	14,333	100

Financial liabilities
Financial assets measured at amortised cost	30,150	-
Financial liabilities measured at amortised cost	454,659	-
	484,809	-

	Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.
	Financial assets measured at amortised cost comprise of other debtors.
	Financial liabilities measured at amortised cost comprise of bank loans, trade creditors, other creditors and accruals.

9.	Related party transactions
	Included in debtors and creditors are the following amounts due from / (to) related parties at the balance sheet date:

		2022	2021
		£	£

	Puro Property Investments Limited	30,000	-
		30,000	-

C Boles is a director of Puro Property Investments Limited. The loan is repayable on demand and no interest has been charged.

10.	Controlling party

The company is controlled by the director.

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