1 July 2022 false Taxfiler 2023.14 06924959business:PrivateLimitedCompanyLtd2022-07-012023-06-30 069249592022-06-30 069249592022-07-012023-06-30 06924959business:AuditExemptWithAccountantsReport2022-07-012023-06-30 06924959business:FilletedAccounts2022-07-012023-06-30 069249592023-06-30 06924959business:Director12022-07-012023-06-30 06924959business:Director22022-07-012023-06-30 06924959business:RegisteredOffice2022-07-012023-06-30 069249592022-06-30 06924959core:WithinOneYear2023-06-30 06924959core:WithinOneYear2022-06-30 06924959core:AfterOneYear2023-06-30 06924959core:AfterOneYear2022-06-30 06924959core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 06924959core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 06924959core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 06924959core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 06924959core:PreviouslyStatedAmount2023-06-30 06924959core:PreviouslyStatedAmount2022-06-30 06924959business:SmallEntities2022-07-012023-06-30 06924959countries:EnglandWales2022-07-012023-06-30 06924959core:PlantMachinery2022-07-012023-06-30 06924959core:LandBuildings2022-06-30 06924959core:PlantMachinery2022-06-30 06924959core:LandBuildings2023-06-30 06924959core:PlantMachinery2023-06-30 06924959core:LandBuildings2022-07-012023-06-30 06924959core:AcceleratedTaxDepreciationDeferredTax2023-06-30 06924959core:AcceleratedTaxDepreciationDeferredTax2022-06-30 069249592021-07-012022-06-30 06924959business:OrdinaryShareClass12022-07-012023-06-30 06924959business:OrdinaryShareClass12021-07-012022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 06924959 (England and Wales)
Severn Valley IT Service Management Limited Unaudited accounts for the year ended 30 June 2023
Severn Valley IT Service Management Limited Unaudited accounts Contents
Page
- 2 -
Severn Valley IT Service Management Limited Company Information for the year ended 30 June 2023
Directors
Toni Wright Stuart Wright
Company Number
06924959 (England and Wales)
Registered Office
Elm House, 10 Fountain Court New Leaze Bradley Stoke Bristol BS32 4LA
Accountants
Evans Entwistle 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA
- 3 -
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Severn Valley IT Service Management Limited for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Severn Valley IT Service Management Limited for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA 30 December 2023
- 4 -
Severn Valley IT Service Management Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,389 
5,837 
Current assets
Debtors
8,999 
15,517 
Cash at bank and in hand
- 
5,788 
8,999 
21,305 
Creditors: amounts falling due within one year
(12,487)
(8,730)
Net current (liabilities)/assets
(3,488)
12,575 
Total assets less current liabilities
1,901 
18,412 
Creditors: amounts falling due after more than one year
- 
(3,009)
Provisions for liabilities
Deferred tax
(61)
- 
Net assets
1,840 
15,403 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,839 
15,402 
Shareholders' funds
1,840 
15,403 
For the year ending 30 June 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 30 December 2023 and were signed on its behalf by
Stuart Wright Director Company Registration No. 06924959
- 5 -
Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Severn Valley IT Service Management Limited is a private company, limited by shares, registered in England and Wales, registration number 06924959. The registered office is Elm House, 10 Fountain Court, New Leaze, Bradley Stoke, Bristol, BS32 4LA.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
5 years straight line
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.
- 6 -
Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
5,070 
4,493 
9,563 
At 30 June 2023
5,070 
4,493 
9,563 
Depreciation
At 1 July 2022
- 
3,726 
3,726 
Charge for the year
- 
448 
448 
At 30 June 2023
- 
4,174 
4,174 
Net book value
At 30 June 2023
5,070 
319 
5,389 
At 30 June 2022
5,070 
767 
5,837 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,999 
12,818 
Other debtors
- 
2,699 
8,999 
15,517 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
8,112 
- 
VAT
2,142 
1,717 
Trade creditors
1,248 
534 
Taxes and social security
494 
5,891 
Other creditors
491 
265 
Accruals
- 
323 
12,487 
8,730 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
- 
3,009 
- 7 -
Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2023
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
61 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
61 
- 
Provision at end of year
61 
- 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 8 -