1 April 2022 false Taxfiler 2023.10 10423452business:PrivateLimitedCompanyLtd2022-04-012023-03-31 104234522022-03-31 104234522022-04-012023-03-31 10423452business:AuditExemptWithAccountantsReport2022-04-012023-03-31 10423452business:FilletedAccounts2022-04-012023-03-31 104234522023-03-31 10423452business:Director12022-04-012023-03-31 10423452business:Director22022-04-012023-03-31 10423452business:Director32022-04-012023-03-31 10423452business:RegisteredOffice2022-04-012023-03-31 104234522022-03-31 10423452core:WithinOneYear2023-03-31 10423452core:WithinOneYear2022-03-31 10423452core:AfterOneYear2023-03-31 10423452core:AfterOneYear2022-03-31 10423452core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 10423452core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 10423452core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 10423452core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 10423452core:PreviouslyStatedAmount2023-03-31 10423452core:PreviouslyStatedAmount2022-03-31 10423452business:SmallEntities2022-04-012023-03-31 10423452countries:EnglandWales2022-04-012023-03-31 10423452core:PlantMachinery2022-04-012023-03-31 10423452core:MotorVehicles2022-04-012023-03-31 10423452core:FurnitureFittings2022-04-012023-03-31 10423452core:ComputerEquipment2022-04-012023-03-31 10423452core:Goodwill2022-03-31 10423452core:Goodwill2023-03-31 10423452core:Goodwill2022-04-012023-03-31 10423452core:PlantMachinery2022-03-31 10423452core:MotorVehicles2022-03-31 10423452core:FurnitureFittings2022-03-31 10423452core:ComputerEquipment2022-03-31 10423452core:PlantMachinery2023-03-31 10423452core:MotorVehicles2023-03-31 10423452core:FurnitureFittings2023-03-31 10423452core:ComputerEquipment2023-03-31 10423452business:OrdinaryShareClass12022-04-012023-03-31 10423452business:OrdinaryShareClass12021-04-012022-03-31 104234522021-04-012022-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10423452 (England and Wales)
LVS AG LIMITED Unaudited accounts for the year ended 31 March 2023
LVS AG LIMITED Unaudited accounts Contents
Page
- 2 -
LVS AG LIMITED Company Information for the year ended 31 March 2023
Directors
P J BARKER J W MARSHALL S MARSHALL
Company Number
10423452 (England and Wales)
Registered Office
AQUA HOUSE LINCOLN ENTERPRISE PARK NEWARK ROAD LINCOLN LN5 9FP United Kingdom
Accountants
CALCUL8 LIMITED 57 HIGH STREET SAXILBY LINCOLN LINCOLNSHIRE LN1 2HA
- 3 -
LVS AG LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
68,400 
85,499 
Tangible assets
29,375 
33,861 
97,775 
119,360 
Current assets
Inventories
28,103 
21,419 
Debtors
32,113 
38,464 
Cash at bank and in hand
39,386 
44,559 
99,602 
104,442 
Creditors: amounts falling due within one year
(153,648)
(156,669)
Net current liabilities
(54,046)
(52,227)
Total assets less current liabilities
43,729 
67,133 
Creditors: amounts falling due after more than one year
(62,725)
(86,738)
Provisions for liabilities
Deferred tax
(1,498)
(2,256)
Net liabilities
(20,494)
(21,861)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(20,594)
(21,961)
Shareholders' funds
(20,494)
(21,861)
For the year ending 31 March 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
P J BARKER Director Company Registration No. 10423452
- 4 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
LVS AG LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10423452. The registered office is AQUA HOUSE, LINCOLN ENTERPRISE PARK, NEWARK ROAD, LINCOLN, LN5 9FP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
33% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. They are amortised on a straight line basis over 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2023
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a workplace pension scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
170,994 
At 31 March 2023
170,994 
Amortisation
At 1 April 2022
85,495 
Charge for the year
17,099 
At 31 March 2023
102,594 
Net book value
At 31 March 2023
68,400 
At 31 March 2022
85,499 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
52,395 
7,808 
3,368 
13,541 
77,112 
Additions
9,332 
- 
- 
1,322 
10,654 
Disposals
- 
(7,808)
- 
- 
(7,808)
At 31 March 2023
61,727 
- 
3,368 
14,863 
79,958 
Depreciation
At 1 April 2022
29,509 
- 
2,213 
11,529 
43,251 
Charge for the year
5,956 
669 
258 
1,118 
8,001 
On disposals
- 
(669)
- 
- 
(669)
At 31 March 2023
35,465 
- 
2,471 
12,647 
50,583 
Net book value
At 31 March 2023
26,262 
- 
897 
2,216 
29,375 
At 31 March 2022
22,886 
7,808 
1,155 
2,012 
33,861 
- 6 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,867 
18,274 
Accrued income and prepayments
12,038 
13,529 
Other debtors
4,208 
6,661 
32,113 
38,464 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
25,852 
24,652 
VAT
15,905 
11,804 
Obligations under finance leases and hire purchase contracts
- 
11,058 
Trade creditors
37,795 
49,619 
Taxes and social security
8,508 
13,195 
Other creditors
34,344 
1,043 
Loans from directors
31,244 
45,298 
153,648 
156,669 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
62,725 
84,697 
Obligations under finance leases and hire purchase contracts
- 
2,041 
62,725 
86,738 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 8 (2022: 9).
- 7 -