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LUV FINANCIAL SOLUTIONS LTD - Company Information

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LUV Financial Solutions Ltd

Registered Number:08350789

For the year ended 31 March 2018

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2018

LUV Financial Solutions Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 March 2018

LUV Financial Solutions Ltd

Statement of Financial Position

Registered Number :

08350789

2017

2018

Notes

Fixed assets

Property, plant and equipment

104,519

76,703

104,519

76,703

Current assets

Trade and other receivables

162,819

367,224

136,990

Cash and cash equivalents

222,048

589,272

299,809

Trade and other payables: amounts falling due within one

year

(262,689)

(422,126)

37,120

167,146

Net current assets

Total assets less current liabilities

271,665

113,823

Trade and other payables: amounts falling due after more

than one year

(53,920)

217,745

Net assets

113,823

Capital and reserves

Called up share capital

100

Retained earnings

217,645

113,723

217,745

113,823

Shareholders' funds

For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Steven James Hibbert Director

These financial statements were approved and authorised for issue by the Board on 14 June 2018 and were signed by:

The notes form part of these financial statements

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For the year ended 31 March 2018

LUV Financial Solutions Ltd

Notes to the Financial Statements

Statutory Information

LUV Financial Solutions Ltd is a private limited company, limited by shares, domiciled in England and Wales,

registration number 08350789.

Registered address:

1 Quay Business Centre Harvard Court

Winwick Quay

Warrington

Cheshire

WA2 8LT

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

15% Reducing balance

Computer equipment

25% Reducing balance

Motor vehicles

15% Reducing balance

Fixtures and fittings

2. Property, plant and equipment

Total

Computer

equipment

Fixtures and

fittings

Motor vehicles

Cost or

valuation

At 01 April 2017

95,702

37,011

58,691

43,361

10,148

2,463

30,750

Additions

At 31 March 2018

30,750

61,154

47,159

139,063

Provision for depreciation and impairment

At 01 April 2017

18,999

8,345

10,654

Charge for year

15,545

5,162

7,359

3,024

At 31 March 2018

34,544

13,507

18,013

3,024

At 31 March 2018

Net book value

27,726

43,141

33,652

104,519

At 31 March 2017

48,037

28,666

76,703

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For the year ended 31 March 2018

LUV Financial Solutions Ltd

Notes to the Financial Statements Continued

3. Trade and other receivables

2017

2018

Trade debtors

174,990

153,914

Other debtors

192,234

8,905

162,819

367,224

4. Trade and other payables: amounts falling due within one year

2017

2018

Bank loans and overdraft (secured)

9,997

50,000

Trade creditors

96,594

9,261

Taxation and social security

71,175

45,277

Other creditors

244,360

158,151

422,126

262,689

5. Trade and other payables: amounts falling due after more than one year

2017

2018

Bank loans and overdraft (secured)

30,895

Other creditors

23,025

53,920

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