Lovely Branches Limited - Accounts to registrar (filleted) - small 18.2

Lovely Branches Limited - Accounts to registrar (filleted) - small 18.2

LOVELY BRANCHES LIMITED - Company Information

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REGISTERED NUMBER: 09402307 (England and Wales)















LOVELY BRANCHES LIMITED

Unaudited Financial Statements

for the Year Ended 31 January 2018






LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Contents of the Financial Statements
for the year ended 31 January 2018










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


LOVELY BRANCHES LIMITED

Company Information
for the year ended 31 January 2018







DIRECTORS: C G G Gottardo
D A Wilson
P G Burton





REGISTERED OFFICE: Suite 1A
Shire Business Park
Wainwright Road
Worcester
Worcestershire
WR4 9FA





REGISTERED NUMBER: 09402307 (England and Wales)
Page 1
LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Balance Sheet
31 January 2018

31.1.18 31.1.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 225,846 226,709

CURRENT ASSETS
Stocks 4 161,030 156,554

CREDITORS
Amounts falling due within one year 5 392,747 335,937
NET CURRENT LIABILITIES (231,717 ) (179,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(5,871
)
47,326

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,971 ) 47,226
SHAREHOLDERS' FUNDS (5,871 ) 47,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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

Page 2 continued...
LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Balance Sheet - continued
31 January 2018


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.

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 on 31 October 2018 and were signed on its
behalf by:




C G G Gottardo - Director D A Wilson - Director




P G Burton - Director


The notes form part of these financial statements

Page 3
LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Notes to the Financial Statements
for the year ended 31 January 2018


1. STATUTORY INFORMATION

Lovely Branches 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

The land included in land and buildings has been included at fair value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet 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.

Page 4 continued...
LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Notes to the Financial Statements - continued
for the year ended 31 January 2018


2. ACCOUNTING POLICIES - continued

Going concern
At the year end the balance sheet is overdrawn. The directors are the main creditors of the company and
have agreed to continue to support the business moving forward. The accounts have therefore been
prepared on a going concern basis.

3. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 February 2017
and 31 January 2018 225,820 2,614 228,434
DEPRECIATION
At 1 February 2017 - 1,725 1,725
Charge for year - 863 863
At 31 January 2018 - 2,588 2,588
NET BOOK VALUE
At 31 January 2018 225,820 26 225,846
At 31 January 2017 225,820 889 226,709

Included in cost of land and buildings is freehold land of £ 225,820 (2017 - £ 225,820 ) which is not
depreciated.

The directors have confirmed that the land included in the accounts is valued at fair value at the
balance sheet date.

4. STOCKS
31.1.18 31.1.17
£    £   
Stocks 161,030 156,554

Page 5 continued...
LOVELY BRANCHES LIMITED (REGISTERED NUMBER: 09402307)

Notes to the Financial Statements - continued
for the year ended 31 January 2018


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.18 31.1.17
£    £   
Trade creditors 1,850 35,451
Tax - 15,256
Directors' current accounts 385,221 282,830
Accruals and deferred income 5,676 2,400
392,747 335,937

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is £385,221 (2017: £282,830) owed to the Directors. There are no set
repayment terms.

Interest is being charged on the loans at market rate.

7. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

Page 6