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REGISTERED NUMBER: SC498417 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SP VENT LIMITED

SP VENT LIMITED (REGISTERED NUMBER: SC498417)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SP VENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: P Kilgour
S A Macdonald





REGISTERED OFFICE: 27 Ingram Street
Glasgow
G1 1HA





REGISTERED NUMBER: SC498417 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

SP VENT LIMITED (REGISTERED NUMBER: SC498417)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,663 130,830

CURRENT ASSETS
Stocks 60,000 -
Debtors 5 89,039 222,866
Cash at bank 55,322 68,360
204,361 291,226
CREDITORS
Amounts falling due within one year 6 106,497 131,034
NET CURRENT ASSETS 97,864 160,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

202,527

291,022

CREDITORS
Amounts falling due after more than one
year

7

(91,234

)

(124,489

)

PROVISIONS FOR LIABILITIES (8,399 ) (10,850 )
NET ASSETS 102,894 155,683

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,794 155,583
SHAREHOLDERS' FUNDS 102,894 155,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SP VENT LIMITED (REGISTERED NUMBER: SC498417)

BALANCE SHEET - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





P Kilgour - Director


SP VENT LIMITED (REGISTERED NUMBER: SC498417)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Sp Vent Limited is a private company, limited by shares , registered in Scotland. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

SP VENT LIMITED (REGISTERED NUMBER: SC498417)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 2,050 175,766 3,364 181,180
DEPRECIATION
At 1 April 2022 1,608 46,340 2,402 50,350
Charge for year 89 25,885 193 26,167
At 31 March 2023 1,697 72,225 2,595 76,517
NET BOOK VALUE
At 31 March 2023 353 103,541 769 104,663
At 31 March 2022 442 129,426 962 130,830

SP VENT LIMITED (REGISTERED NUMBER: SC498417)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 139,442
DEPRECIATION
At 1 April 2022 27,888
Charge for year 22,311
At 31 March 2023 50,199
NET BOOK VALUE
At 31 March 2023 89,243
At 31 March 2022 111,554

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 79,618 221,381
Other debtors 1,500 1,485
VAT 6,846 -
Prepayments and accrued income 1,075 -
89,039 222,866

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,900 9,780
Hire purchase contracts 23,181 23,181
Trade creditors 48,867 47,051
Tax 18,799 40,232
Social security and other taxes 5,750 4,273
VAT - 1,574
Accrued expenses - 4,943
106,497 131,034

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 9,900 9,780
Bank loans - 2-5 years 16,888 27,082
Hire purchase contracts 64,446 87,627
91,234 124,489

SP VENT LIMITED (REGISTERED NUMBER: SC498417)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
P Kilgour
Balance outstanding at start of year - (1,396 )
Amounts advanced - 1,396
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -