Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr S Edwards 03/04/2006 30 September 2024 The principal activity of the company continued to be that of a veterinary practice. 05766801 2024-03-31 05766801 bus:Director1 2024-03-31 05766801 2023-03-31 05766801 core:CurrentFinancialInstruments 2024-03-31 05766801 core:CurrentFinancialInstruments 2023-03-31 05766801 core:Non-currentFinancialInstruments 2024-03-31 05766801 core:Non-currentFinancialInstruments 2023-03-31 05766801 core:ShareCapital 2024-03-31 05766801 core:ShareCapital 2023-03-31 05766801 core:RetainedEarningsAccumulatedLosses 2024-03-31 05766801 core:RetainedEarningsAccumulatedLosses 2023-03-31 05766801 core:Goodwill 2023-03-31 05766801 core:Goodwill 2024-03-31 05766801 core:LandBuildings 2023-03-31 05766801 core:OtherPropertyPlantEquipment 2023-03-31 05766801 core:LandBuildings 2024-03-31 05766801 core:OtherPropertyPlantEquipment 2024-03-31 05766801 2023-04-01 2024-03-31 05766801 bus:FilletedAccounts 2023-04-01 2024-03-31 05766801 bus:SmallEntities 2023-04-01 2024-03-31 05766801 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05766801 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05766801 bus:Director1 2023-04-01 2024-03-31 05766801 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 05766801 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 05766801 2022-04-01 2023-03-31 05766801 core:LandBuildings 2023-04-01 2024-03-31 05766801 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 05766801 (England and Wales)

S&LVS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

S&LVS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

S&LVS LIMITED

BALANCE SHEET

As at 31 March 2024
S&LVS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 88,317 54,963
88,317 54,963
Current assets
Stocks 25,873 28,013
Debtors 6 16,154 21,979
Cash at bank and in hand 7,209 84,877
49,236 134,869
Creditors: amounts falling due within one year 7 ( 61,645) ( 86,399)
Net current (liabilities)/assets (12,409) 48,470
Total assets less current liabilities 75,908 103,433
Creditors: amounts falling due after more than one year 8 ( 26,678) ( 53,711)
Net assets 49,230 49,722
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 48,230 48,722
Total shareholder's funds 49,230 49,722

For the financial 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.

Director's responsibilities:

The financial statements of S&LVS Limited (registered number: 05766801) were approved and authorised for issue by the Director on 30 September 2024. They were signed on its behalf by:

Mr S Edwards
Director
S&LVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
S&LVS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

S&LVS Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 74-76 Chorley New Road, Bolton, BL1 4BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT. Revenue is recognised when the invoice is raised or when the service is provided.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods and services have passed to the buyer (usually on dispatch of the goods and provision of services), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Land and buildings not depreciated
Plant and machinery etc. 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 6

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 199,543 199,543
At 31 March 2024 199,543 199,543
Accumulated amortisation
At 01 April 2023 199,543 199,543
At 31 March 2024 199,543 199,543
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

5. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 142,643 210,858 353,501
Additions 49,708 690 50,398
At 31 March 2024 192,351 211,548 403,899
Accumulated depreciation
At 01 April 2023 114,031 184,507 298,538
Charge for the financial year 7,981 9,063 17,044
At 31 March 2024 122,012 193,570 315,582
Net book value
At 31 March 2024 70,339 17,978 88,317
At 31 March 2023 28,612 26,351 54,963

6. Debtors

2024 2023
£ £
Trade debtors 9,502 15,416
Other debtors 6,652 6,563
16,154 21,979

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 16,557 14,681
Trade creditors 22,366 20,805
Taxation and social security 10,630 39,428
Obligations under finance leases and hire purchase contracts 8,620 9,119
Other creditors 3,472 2,366
61,645 86,399

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 20,698 39,110
Obligations under finance leases and hire purchase contracts 5,980 14,601
26,678 53,711