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Company Registration No. 06924959 (England and Wales)
Severn Valley IT Service Management Limited Unaudited accounts for the year ended 30 June 2024
Severn Valley IT Service Management Limited Unaudited accounts Contents
Page
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Severn Valley IT Service Management Limited Company Information for the year ended 30 June 2024
Directors
Toni Wright Stuart Wright
Company Number
06924959 (England and Wales)
Registered Office
Elm House, 10 Fountain Court New Leaze Bradley Stoke Bristol BS32 4LA
Accountants
Evans Entwistle Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Severn Valley IT Service Management Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Severn Valley IT Service Management Limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Office 12a Equinox South, Great Park Road Bradley Stoke Bristol BS32 4QL 16 August 2024
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Severn Valley IT Service Management Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,223 
5,389 
Current assets
Debtors
13,978 
8,999 
Cash at bank and in hand
9,326 
- 
23,304 
8,999 
Creditors: amounts falling due within one year
(9,460)
(12,487)
Net current assets/(liabilities)
13,844 
(3,488)
Total assets less current liabilities
19,067 
1,901 
Provisions for liabilities
Deferred tax
(29)
(61)
Net assets
19,038 
1,840 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
19,037 
1,839 
Shareholders' funds
19,038 
1,840 
For the year ending 30 June 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 16 August 2024 and were signed on its behalf by
Stuart Wright Director Company Registration No. 06924959
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Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Severn Valley IT Service Management Limited is a private company, limited by shares, registered in England and Wales, registration number 06924959. The registered office is Elm House, 10 Fountain Court, New Leaze, Bradley Stoke, Bristol, BS32 4LA.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
5 years straight line
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.
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Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
5,070 
4,493 
9,563 
At 30 June 2024
5,070 
4,493 
9,563 
Depreciation
At 1 July 2023
- 
4,174 
4,174 
Charge for the year
- 
166 
166 
At 30 June 2024
- 
4,340 
4,340 
Net book value
At 30 June 2024
5,070 
153 
5,223 
At 30 June 2023
5,070 
319 
5,389 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,978 
8,999 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
8,112 
VAT
1,474 
2,142 
Trade creditors
- 
1,248 
Taxes and social security
6,980 
494 
Other creditors
1,006 
491 
9,460 
12,487 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
29 
61 
2024 
2023 
£ 
£ 
Provision at start of year
61 
- 
(Credited)/charged to the profit and loss account
(32)
61 
Provision at end of year
29 
61 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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Severn Valley IT Service Management Limited Notes to the Accounts for the year ended 30 June 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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