SVP Services Limited 03716501 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is the repair of electrical equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 03716501 2023-04-06 2024-04-05 03716501 2024-04-05 03716501 core:CurrentFinancialInstruments 2024-04-05 03716501 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 03716501 core:OtherPropertyPlantEquipment 2024-04-05 03716501 bus:SmallEntities 2023-04-06 2024-04-05 03716501 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 03716501 bus:FilletedAccounts 2023-04-06 2024-04-05 03716501 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 03716501 bus:RegisteredOffice 2023-04-06 2024-04-05 03716501 bus:Director1 2023-04-06 2024-04-05 03716501 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 03716501 core:OtherPropertyPlantEquipment 2023-04-06 2024-04-05 03716501 core:PlantMachinery 2023-04-06 2024-04-05 03716501 countries:AllCountries 2023-04-06 2024-04-05 03716501 2023-04-05 03716501 core:OtherPropertyPlantEquipment 2023-04-05 03716501 2022-04-06 2023-04-05 03716501 2023-04-05 03716501 core:CurrentFinancialInstruments 2023-04-05 03716501 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 03716501 core:OtherPropertyPlantEquipment 2023-04-05 iso4217:GBP xbrli:pure

Registration number: 03716501

SVP Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

SVP Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

SVP Services Limited

(Registration number: 03716501)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

326

435

Current assets

 

Stocks

5

3,000

3,000

Debtors

6

9,792

7,966

Cash at bank and in hand

 

11,656

11,638

 

24,448

22,604

Creditors: Amounts falling due within one year

7

(21,170)

(19,965)

Net current assets

 

3,278

2,639

Total assets less current liabilities

 

3,604

3,074

Provisions for liabilities

(82)

(109)

Net assets

 

3,522

2,965

Capital and reserves

 

Called up share capital

50

50

Retained earnings

3,472

2,915

Shareholders' funds

 

3,522

2,965

 

SVP Services Limited

(Registration number: 03716501)
Balance Sheet as at 5 April 2024

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 July 2024
 

.........................................
Mr Stanley Porter
Director

 

SVP Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
106 Nevile Road
Salford
M7 3PL

These financial statements were authorised for issue by the director on 11 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SVP Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

SVP Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

4

Tangible assets

Plant & machinery
£

Total
£

Cost or valuation

At 6 April 2023

6,272

6,272

At 5 April 2024

6,272

6,272

Depreciation

At 6 April 2023

5,837

5,837

Charge for the year

109

109

At 5 April 2024

5,946

5,946

Carrying amount

At 5 April 2024

326

326

At 5 April 2023

435

435

5

Stocks

2024
£

2023
£

Raw materials and consumables

3,000

3,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,916

7,686

Other debtors

876

280

 

9,792

7,966

 

SVP Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,219

1,855

Taxation and social security

4,418

4,064

Accruals and deferred income

1,100

1,285

Other creditors

13,433

12,761

21,170

19,965