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REGISTERED NUMBER: 06751725 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

RS Panels SVV Limited

RS Panels SVV Limited (Registered number: 06751725)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RS Panels SVV Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J R Smith





SECRETARY: R A Smith





REGISTERED OFFICE: 4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR





REGISTERED NUMBER: 06751725 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

RS Panels SVV Limited (Registered number: 06751725)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,500 7,000
Tangible assets 5 122,140 81,615
125,640 88,615

CURRENT ASSETS
Stocks 150,000 250,000
Debtors 6 96,773 120,155
Cash at bank 190,147 208,862
436,920 579,017
CREDITORS
Amounts falling due within one year 7 60,900 125,374
NET CURRENT ASSETS 376,020 453,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

501,660

542,258

CREDITORS
Amounts falling due after more than one
year

8

(14,815

)

(24,166

)

PROVISIONS FOR LIABILITIES (24,509 ) (10,418 )
NET ASSETS 462,336 507,674

CAPITAL AND RESERVES
Called up share capital 101 101
Share premium 260 260
Retained earnings 461,975 507,313
SHAREHOLDERS' FUNDS 462,336 507,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RS Panels SVV Limited (Registered number: 06751725)

Balance Sheet - continued
31 December 2023


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2024 and were signed by:





J R Smith - Director


RS Panels SVV Limited (Registered number: 06751725)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RS Panels SVV Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Plant and machinery etc at 10% and 25% reducing balance.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RS Panels SVV Limited (Registered number: 06751725)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 50,000
AMORTISATION
At 1 January 2023 43,000
Charge for year 3,500
At 31 December 2023 46,500
NET BOOK VALUE
At 31 December 2023 3,500
At 31 December 2022 7,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 379,800
Additions 74,885
Disposals (3,430 )
At 31 December 2023 451,255
DEPRECIATION
At 1 January 2023 298,185
Charge for year 32,431
Eliminated on disposal (1,501 )
At 31 December 2023 329,115
NET BOOK VALUE
At 31 December 2023 122,140
At 31 December 2022 81,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 66,052 96,826
Other debtors 5,753 1,350
Prepayments 24,968 21,979
96,773 120,155

RS Panels SVV Limited (Registered number: 06751725)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,136 10,000
Trade creditors 8,998 16,651
Tax 15,861 51,243
Social security and other taxes 8,508 8,108
VAT 4,511 24,488
Other creditors 6,211 8,342
Directors' current accounts 516 382
Accrued expenses 6,159 6,160
60,900 125,374

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,395 10,000
Bank loans - 2-5 years 4,420 14,166
14,815 24,166

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 24,951 34,166

The bank has a fixed and floating charge over the company's entire assets.

10. ULTIMATE CONTROLLING PARTY

The controlling party is J R Smith.