Love Electric Financial Services Ltd
Love Electric Financial Services Ltd
Registered number: SC374952
Unaudited Financial Statements
For the Period
1 May 2022
to
31 December 2022
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Love Electric Financial Services Ltd
Unaudited Financial Statements
For the Period
1 May 2022
to
31 December 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—4 |
Page 1
Love Electric Financial Services Ltd
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
SC374952
For the period ending 31 December 2022 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
31 December 2022 | 30 April 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 7 |
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Share premium account |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 377,236 | 240,323 | |||
Page 1
Page 2
Love Electric Financial Services Ltd
Balance Sheet (continued)
As At
31 December 2022
On behalf of the board
Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Love Electric Financial Services Ltd
Notes to the Financial Statements
For the Period
1 May 2022
to
31 December 2022
Notes to the Financial Statements
1.
General Information
Love Electric Financial Services Ltd
is a private company, limited by shares, incorporated in Scotland, registered number
SC374952
. The registered office is 5 South Charlotte Street, Edinburgh, Midlothian, EH2 4AN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the rendering of services is recognised by reference to the stage of completion of the client contract. Accrued income is recognised within debtors where services have been rendered but not yet invoiced. Revenue relating to future services is recorded as deferred income and recognised when the services are rendered.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings |
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Computer Equipment |
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2.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3.
Average Number of Employees
Average number of employees, including directors, during the period was: 13 (2022: 5)
4.
Tangible Assets
Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at
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Additions |
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As at
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...CONTINUED
Page 3
Page 4
Love Electric Financial Services Ltd
Notes to the Financial Statements (continued)
For the Period
1 May 2022
to
31 December 2022
Depreciation | |||
As at
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Provided during the period |
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As at
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Net Book Value | |||
As at
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As at
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5.
Debtors
31 December 2022 | 30 April 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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6.
Creditors: Amounts Falling Due Within One Year
31 December 2022 | 30 April 2022 | ||
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£ | £ | ||
Trade creditors |
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Other taxes and social security |
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VAT |
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Wages payable | - | 254 | |
Other creditors |
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Accruals and deferred income |
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Directors' loan accounts |
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7.
Share Capital
31 December 2022 | 30 April 2022 | ||
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£ | £ | ||
Allotted, Called up and fully paid |
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Page 4