George Pimentel/WireImage
August 15, 2016 12:00 PM

Summer lovin’ is over for Bella Thorne and Gregg Sulkin.

After a PDA-filled year together, the couple are going their separate ways, reps for the stars confirm exclusively to PEOPLE.

“After much thought and soul-searching, we have made the difficult decision to end our relationship. We will always love each other and have a deep respect for one another, as we have each grown to be better people because of our time together. Our schedules made seeing each other difficult, and we decided that for now this would be best,” the couple tells PEOPLE in a joint statement.

Last summer, Sulkin, 24, and Thorne, 18, attended the Teen Choice Awards together and shared a sweet kiss on the red carpet.

“They have known each other for years and spend a lot of time together,” a source close to the couple told PEOPLE when the pair first started dating. “They treat each other with a great deal of respect and are really enjoying each other’s company.”

RELATED VIDEO: Who Takes Longer to Get Ready for a Night Out: Bella or Gregg?

In May, Thorne marked their one-year anniversary on Instagram with a video of the duo sharing a kiss.

“HAPPY ONE YEAR to this handsome man I’m lucky enough to call mine,” she captioned the video. “@greggsulkin took me skydiving today and I thought I was gonna s— my pants for sure but I didn’t think…I think 😉 #couples #boyfriend.”

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