1 April 2023 false Taxfiler 2024.5 10423452business:PrivateLimitedCompanyLtd2023-04-012024-03-31 104234522023-03-31 104234522023-04-012024-03-31 10423452business:AuditExemptWithAccountantsReport2023-04-012024-03-31 10423452business:FilletedAccounts2023-04-012024-03-31 104234522024-03-31 10423452business:Director12023-04-012024-03-31 10423452business:Director22023-04-012024-03-31 10423452business:Director32023-04-012024-03-31 10423452business:RegisteredOffice2023-04-012024-03-31 104234522023-03-31 10423452core:WithinOneYear2024-03-31 10423452core:WithinOneYear2023-03-31 10423452core:AfterOneYear2024-03-31 10423452core:AfterOneYear2023-03-31 10423452core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 10423452core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 10423452core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 10423452core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 10423452core:PreviouslyStatedAmount2024-03-31 10423452core:PreviouslyStatedAmount2023-03-31 10423452business:SmallEntities2023-04-012024-03-31 10423452countries:EnglandWales2023-04-012024-03-31 10423452core:PlantMachinery2023-04-012024-03-31 10423452core:MotorVehicles2023-04-012024-03-31 10423452core:FurnitureFittings2023-04-012024-03-31 10423452core:ComputerEquipment2023-04-012024-03-31 10423452core:Goodwill2023-03-31 10423452core:Goodwill2024-03-31 10423452core:Goodwill2023-04-012024-03-31 10423452core:PlantMachinery2023-03-31 10423452core:FurnitureFittings2023-03-31 10423452core:ComputerEquipment2023-03-31 10423452core:PlantMachinery2024-03-31 10423452core:FurnitureFittings2024-03-31 10423452core:ComputerEquipment2024-03-31 10423452business:OrdinaryShareClass12023-04-012024-03-31 10423452business:OrdinaryShareClass12022-04-012023-03-31 104234522022-04-012023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10423452 (England and Wales)
LVS AG LIMITED Unaudited accounts for the year ended 31 March 2024
LVS AG LIMITED Unaudited accounts Contents
Page
- 2 -
LVS AG LIMITED Company Information for the year ended 31 March 2024
Directors
P J BARKER J W MARSHALL S MARSHALL
Company Number
10423452 (England and Wales)
Registered Office
AQUA HOUSE LINCOLN ENTERPRISE PARK NEWARK ROAD LINCOLN LN5 9FP United Kingdom
Accountants
CALCUL8 LIMITED 57 HIGH STREET SAXILBY LINCOLN LINCOLNSHIRE LN1 2HA
- 3 -
LVS AG LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
51,301 
68,400 
Tangible assets
30,364 
29,375 
81,665 
97,775 
Current assets
Inventories
35,509 
28,103 
Debtors
35,441 
32,113 
Cash at bank and in hand
31,823 
39,386 
102,773 
99,602 
Creditors: amounts falling due within one year
(148,642)
(153,648)
Net current liabilities
(45,869)
(54,046)
Total assets less current liabilities
35,796 
43,729 
Creditors: amounts falling due after more than one year
(43,044)
(62,725)
Provisions for liabilities
Deferred tax
(1,726)
(1,498)
Net liabilities
(8,974)
(20,494)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(9,074)
(20,594)
Shareholders' funds
(8,974)
(20,494)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by
P J BARKER Director Company Registration No. 10423452
- 4 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
LVS AG LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10423452. The registered office is AQUA HOUSE, LINCOLN ENTERPRISE PARK, NEWARK ROAD, LINCOLN, LN5 9FP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
33% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. They are amortised on a straight line basis over 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a workplace pension scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
170,994 
At 31 March 2024
170,994 
Amortisation
At 1 April 2023
102,594 
Charge for the year
17,099 
At 31 March 2024
119,693 
Net book value
At 31 March 2024
51,301 
At 31 March 2023
68,400 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
61,727 
3,368 
14,863 
79,958 
Additions
8,817 
- 
965 
9,782 
At 31 March 2024
70,544 
3,368 
15,828 
89,740 
Depreciation
At 1 April 2023
35,465 
2,471 
12,647 
50,583 
Charge for the year
7,276 
200 
1,317 
8,793 
At 31 March 2024
42,741 
2,671 
13,964 
59,376 
Net book value
At 31 March 2024
27,803 
697 
1,864 
30,364 
At 31 March 2023
26,262 
897 
2,216 
29,375 
- 6 -
LVS AG LIMITED Notes to the Accounts for the year ended 31 March 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,815 
15,867 
Accrued income and prepayments
13,785 
12,038 
Other debtors
3,841 
4,208 
35,441 
32,113 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
25,852 
25,852 
VAT
15,456 
15,905 
Trade creditors
41,086 
37,795 
Taxes and social security
12,113 
8,508 
Other creditors
34,805 
34,344 
Loans from directors
19,330 
31,244 
148,642 
153,648 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
43,044 
62,725 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 8 (2023: 8).
- 7 -