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
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
LVS AG LIMITED
Statement of financial position
as at 31 March 2024
Intangible assets
51,301
68,400
Tangible assets
30,364
29,375
Cash at bank and in hand
31,823
39,386
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)
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
LVS AG LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation. They are amortised on a straight line basis over 10 years.
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 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.
LVS AG LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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
Charge for the year
17,099
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
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
At 31 March 2024
27,803
697
1,864
30,364
At 31 March 2023
26,262
897
2,216
29,375
LVS AG LIMITED
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
17,815
15,867
Accrued income and prepayments
13,785
12,038
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
25,852
25,852
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
8
Creditors: amounts falling due after more than one year
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).