Company registration number 00279389 (England and Wales)
J.W.SIVIL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
J.W.SIVIL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
J.W.SIVIL LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
153
486
Investments
4
1
1
154
487
Current assets
Stocks
-
18,012
Debtors
5
8,003,690
8,133,798
Cash at bank and in hand
3,728,493
3,094,410
11,732,183
11,246,220
Creditors: amounts falling due within one year
6
(835,287)
(337,031)
Net current assets
10,896,896
10,909,189
Net assets
10,897,050
10,909,676
Capital and reserves
Called up share capital
7
5,400
5,400
Profit and loss reserves
10,891,650
10,904,276
Total equity
10,897,050
10,909,676

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
D J Sivil
Director
Company registration number 00279389 (England and Wales)
J.W.SIVIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

J.W.Sivil Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bank Farm, Barlow, Dronfield, S18 7SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

J.W.SIVIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the tax currently payable:

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

J.W.SIVIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 September 2022
42,480
Disposals
(812)
At 31 August 2023
41,668
Depreciation and impairment
At 1 September 2022
41,994
Depreciation charged in the year
130
Eliminated in respect of disposals
(609)
At 31 August 2023
41,515
Carrying amount
At 31 August 2023
153
At 31 August 2022
486
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings
1
1
J.W.SIVIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,575
1,910
Corporation tax recoverable
-
0
2,211
Amounts owed by group undertakings
8,000,250
8,128,314
Other debtors
865
1,363
8,003,690
8,133,798
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
255
10,009
Corporation tax
2,584
-
0
Other taxation and social security
22,517
-
0
Other creditors
809,931
327,022
835,287
337,031
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Share of £1 each
2,700
2,700
2,700
2,700
Ordinary B Shares of £1 each
2,700
2,700
2,700
2,700
5,400
5,400
5,400
5,400
8
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption available under FRS102, section 33, not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Other information

During the period J W Sivil Limited paid funds to Sivil Enterprises Limited, a company where D J Sivil is a director, of £0 (2022 : £22,317) and recharged amounts from Sivil Enterprises Limited of £10,439 (2022 : £11,703). The amount due to Sivil Enterprises Limited at the year end was £120,402 (2022 : £109,963). This amount is included within creditors.

 

During the period J W Sivil Limited carried out services for Sivil Developments Limited, a company where D J Sivil is a director, with sales of £105,156 (2022 : £84,757) and purchases on behalf of Sivil Developments Limited of £7,659 (2022 : £4,471). In addition to these transactions £15,000 was charged by Sivil Developments Limited to J W Sivil Limited in respect of rent for the use of premises. The amount due to Sivil Developments Limited at the year end was £326,654 (2021 : £214,156). This is included within creditors.

J.W.SIVIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
9
Parent company

The company is a wholly-owned subsidiary of J. W. Sivil Trading Limited.

The ultimate parent company is J. W. Sivil Holdings Limited, the registered office is Bank Farm, Far Lane, Dronfield, S18 7SE.

The ultimate controlling party are the trustees of The Sivil Family Discretionary Trust No2.

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