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Registered Number: 11541032
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 August 2023

for

SMVS NW LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 15,200    15,200 
Tangible fixed assets 4 275,850    367,799 
291,050    382,999 
Current assets      
Debtors 5 27,522    52,680 
Cash at bank and in hand 11,403    14,102 
38,925    66,782 
Creditors: amount falling due within one year 6 (22,324)   (64,471)
Net current assets 16,601    2,311 
 
Total assets less current liabilities 307,651    385,310 
Creditors: amount falling due after more than one year 7 (238,788)   (238,788)
Provisions for liabilities 8 (38,806)   (47,909)
Net assets 30,057    98,613 
 

Capital and reserves
     
Called up share capital 9 1    1 
Profit and loss account 30,056    98,612 
Shareholders' funds 30,057    98,613 
 


For the 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.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 August 2024 and were signed by:


-------------------------------
Soraya Akram
Director
1
General Information
SMVS NW Ltd is a private company, limited by shares, registered in England and Wales, registration number 11541032, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 3).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 September 2022 15,200    15,200 
Additions  
Disposals  
At 31 August 2023 15,200    15,200 
Net book values
At 31 August 2023 15,200    15,200 
At 31 August 2022 15,200    15,200 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 September 2022 462,673    2,072    464,745 
Additions    
Disposals    
At 31 August 2023 462,673    2,072    464,745 
Depreciation
At 01 September 2022 96,272    674    96,946 
Charge for year 91,600    349    91,949 
On disposals    
At 31 August 2023 187,872    1,023    188,895 
Net book values
Closing balance as at 31 August 2023 274,801    1,049    275,850 
Opening balance as at 01 September 2022 366,401    1,398    367,799 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   48,000 
Other Debtors 27,522    4,680 
27,522    52,680 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 22,324    62,220 
Accrued Expenses   2,251 
22,324    64,471 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 238,788    238,788 
238,788    238,788 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 38,806    47,909 
38,806    47,909 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £1.00 each  
 

2