Love Experience Ltd - Accounts to registrar (filleted) - small 18.2

Love Experience Ltd - Accounts to registrar (filleted) - small 18.2

LOVE EXPERIENCE LTD - Company Information

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REGISTERED NUMBER: 09991849 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

LOVE EXPERIENCE LTD
LOVE EXPERIENCE LTD (REGISTERED NUMBER: 09991849)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOVE EXPERIENCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2019







DIRECTOR: Mr J C Lovatt-young





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: 09991849 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX
1
LOVE EXPERIENCE LTD (REGISTERED NUMBER: 09991849)

BALANCE SHEET
31 March 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 530 1,279

CURRENT ASSETS
Stocks 8,516 -
Debtors 5 16,578 25,433
Cash at bank 341,534 272,722
366,628 298,155
CREDITORS
Amounts falling due within one year 6 67,532 89,932
NET CURRENT ASSETS 299,096 208,223
TOTAL ASSETS LESS CURRENT
LIABILITIES
299,626
209,502

PROVISIONS FOR LIABILITIES 100 243
NET ASSETS 299,526 209,259

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 299,525 209,258
SHAREHOLDERS' FUNDS 299,526 209,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director on 12 June 2019 and were signed by:





Mr J C Lovatt-young - Director


The notes form part of these financial statements

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LOVE EXPERIENCE LTD (REGISTERED NUMBER: 09991849)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2019

1. STATUTORY INFORMATION

Love Experience Ltd 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 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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing
stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

3
LOVE EXPERIENCE LTD (REGISTERED NUMBER: 09991849)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2019

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2018
and 31 March 2019 2,249
DEPRECIATION
At 1 April 2018 970
Charge for year 749
At 31 March 2019 1,719
NET BOOK VALUE
At 31 March 2019 530
At 31 March 2018 1,279

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 16,578 25,309
Prepayments - 124
16,578 25,433

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 1 -
Tax 29,068 27,589
VAT 7,709 7,739
Directors' current accounts 30,754 54,604
67,532 89,932

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a balance owed to the director of £30,754. This loan has no repayment terms and does not attract
interest.

During the year dividends of £33,000 were paid to the director.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J C Lovatt-young.

4