Love Experience Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09991849 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 8 FEBRUARY 2016 TO 31 MARCH 2017

FOR

LOVE EXPERIENCE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

FIXED ASSETS

Tangible assets

3

2,029

CURRENT ASSETS

Stocks

16,684

Debtors

4

26,235

Cash at bank

149,566

192,485

CREDITORS

Amounts falling due within one year

5

63,884

NET CURRENT ASSETS

128,601

TOTAL ASSETS LESS CURRENT LIABILITIES

130,630

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

130,629

SHAREHOLDERS' FUNDS

130,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 13 October 2017 and were signed by:

Mr J C Lovatt-young - Director

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 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.

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 period 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 period 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.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

2,249

At 31 March 2017

2,249

DEPRECIATION

Charge for period

220

At 31 March 2017

220

NET BOOK VALUE

At 31 March 2017

2,029

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

26,235

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tax

33,402

VAT

6,975

Directors' current accounts

23,507

63,884

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a balance owed to the director of £23,507. This loan has no repayment terms and does not attract

interest.

During the year dividends of £5,000 were paid to the director.

7.	ULTIMATE CONTROLLING PARTY

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