Silverfin false 28/02/2023 01/03/2022 28/02/2023 Mr Y Loue 19/07/2019 02 October 2023 The principal activity of the Company during the financial year was the operation of a wine lounge and the retail sale of wine and other drinks. 12106566 2023-02-28 12106566 bus:Director1 2023-02-28 12106566 2022-02-28 12106566 core:CurrentFinancialInstruments 2023-02-28 12106566 core:CurrentFinancialInstruments 2022-02-28 12106566 core:Non-currentFinancialInstruments 2023-02-28 12106566 core:Non-currentFinancialInstruments 2022-02-28 12106566 core:ShareCapital 2023-02-28 12106566 core:ShareCapital 2022-02-28 12106566 core:RetainedEarningsAccumulatedLosses 2023-02-28 12106566 core:RetainedEarningsAccumulatedLosses 2022-02-28 12106566 core:LandBuildings 2022-02-28 12106566 core:OtherPropertyPlantEquipment 2022-02-28 12106566 core:LandBuildings 2023-02-28 12106566 core:OtherPropertyPlantEquipment 2023-02-28 12106566 bus:OrdinaryShareClass1 2023-02-28 12106566 2022-03-01 2023-02-28 12106566 bus:FullAccounts 2022-03-01 2023-02-28 12106566 bus:SmallEntities 2022-03-01 2023-02-28 12106566 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12106566 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12106566 bus:Director1 2022-03-01 2023-02-28 12106566 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 12106566 2021-03-01 2022-02-28 12106566 core:LandBuildings 2022-03-01 2023-02-28 12106566 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 12106566 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12106566 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12106566 (England and Wales)

LVBRISTOL LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

LVBRISTOL LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

LVBRISTOL LIMITED

BALANCE SHEET

As at 28 February 2023
LVBRISTOL LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 32,388 47,727
32,388 47,727
Current assets
Stocks 30,495 26,124
Debtors 4 79,109 85,813
Cash at bank and in hand 16,881 41,599
126,485 153,536
Creditors: amounts falling due within one year 5 ( 28,783) ( 107,396)
Net current assets 97,702 46,140
Total assets less current liabilities 130,090 93,867
Creditors: amounts falling due after more than one year 6 ( 102,122) ( 98,383)
Provision for liabilities ( 4,507) ( 3,814)
Net assets/(liabilities) 23,461 ( 8,330)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 23,361 ( 8,430 )
Total shareholder's funds/(deficit) 23,461 ( 8,330)

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of LVBristol Limited (registered number: 12106566) were approved and authorised for issue by the Director on 02 October 2023. They were signed on its behalf by:

Mr Y Loue
Director
LVBRISTOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
LVBRISTOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LVBristol Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is New Cooperage, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 March 2022 8,330 84,339 92,669
Additions 0 203 203
At 28 February 2023 8,330 84,542 92,872
Accumulated depreciation
At 01 March 2022 1,555 43,387 44,942
Charge for the financial year 595 14,947 15,542
At 28 February 2023 2,150 58,334 60,484
Net book value
At 28 February 2023 6,180 26,208 32,388
At 28 February 2022 6,775 40,952 47,727

4. Debtors

2023 2022
£ £
Trade debtors 0 120
Other debtors 79,109 85,693
79,109 85,813

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,389 6,389
Trade creditors 8,819 83,255
Taxation and social security 10,842 9,685
Other creditors 2,733 8,067
28,783 107,396

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 13,534 19,923
Amounts owed to Group undertakings 88,588 78,460
102,122 98,383

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
finance leases entered into 196,620 277,232