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Company registration number: 02889996
SEVERNSIDE WHOLESALERS LIMITED
REPORT OF THE DIRECTORS' AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023

SEVERNSIDE WHOLESALERS LIMITED
BALANCE SHEET
AS AT 31 December 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets34,1258,251
Tangible assets45,4286,507
9,55314,758
CURRENT ASSETS
Stocks415,412415,751
Debtors54,23187,007
Cash at bank and in hand113,01296,559
582,655599,317
CREDITORS
Amounts falling due within one year (124,425) (143,365)
NET CURRENT ASSETS 458,230 455,952
TOTAL ASSETS LESS
CURRENT LIABILITIES 467,783 470,710
Creditors falling due after one year(17,340)(27,441)
PROVISIONS FOR LIABILITIES(1,405)(1,072)
NET ASSETS 449,038 442,197
CAPITAL AND RESERVES
Called-up equity share capital 1,000 1,000
Profit and loss account 448,038 441,197
SHAREHOLDERS FUNDS 449,038 442,197
For the year ending 31 December 2023 the company was entitled to exemption 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 the accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
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. Approved by the board of directors on 25 September 2024 and signed on its behalf.
..........................................................................
S A Maxfield
25 September 2024
The annexed notes form part of these financial statements.

SEVERNSIDE WHOLESALERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible Assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses
Foreign Currency
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% reducing balance basis
Short leasehold property - 20% straight line basis
Stocks and Work In Progress
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished good , cost includes a relevant proportion of overheads according to the stage of manufacture / completion.
Leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Operating lease payments are recognised as an expenses on a straight line basis over the lease term.
Deferred Taxation
Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a a liability or asset will crystallise in the near future.
Pension Scheme
Contributions to defined contribution plans are expensed in the period to which they relate.
2.Employees
The average number of persons employed by the company (including directors) during the year was 7.
3.Intangible fixed assets
Total
Cost
At start of period20,627
At end of period 20,627
Amortisation
At start of period12,376
Provided during the period4,126
At end of period16,502
Net Book Values
At start of period8,251
At end of period4,125
4.Tangible fixed assets
Total
Cost
At start of period67,368
Additions768
Disposals (387)
At end of period67,749
Depreciation
At start of period60,861
Provided during the period1,810
On disposals(350)
At end of period62,321
Net Book Value
At start of period6,507
At end of period5,428
5.Pension costs
Contributions to defined contribution plans are expensed in the period to which they relate.