Registered number
10263816
SKV Group Trade Ltd
Filleted Accounts
31 July 2023
SKV Group Trade Ltd
Registered number: 10263816
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 390 520
Current assets
Stocks 22,460 22,460
Cash at bank and in hand 165 406
22,625 22,866
Creditors: amounts falling due within one year 4 (3,183) (3,304)
Net current assets 19,442 19,562
Total assets less current liabilities 19,832 20,082
Creditors: amounts falling due after more than one year 5 (21,390) (21,390)
Net liabilities (1,558) (1,308)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,559) (1,309)
Shareholders' funds (1,558) (1,308)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Martin Neychev Tenev
Director
Approved by the board on 18 March 2024
SKV Group Trade Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of discounts. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Going concern
Despite having no sales during the year, the directors expect sales to start soon. The company has no external borrowing or debts and no external credit will be required in the future. The company has been financed by its director, who will not call in repayment of the debt within the foreseeable future. As a result the going concern basis of accounting is adopted.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 650
At 31 July 2023 650
Depreciation
At 1 August 2022 130
Charge for the year 130
At 31 July 2023 260
Net book value
At 31 July 2023 390
At 31 July 2022 520
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 3,183 3,304
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank and other loans 21,390 21,390
6 Other information
SKV Group Trade Ltd is a private company limited by shares and incorporated in England. Its registered office is:
48e Coombe Road
Croydon
CR0 5SG
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