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Registered Number: 11758456
England & Northern Ireland

 

 

 

S & V RETAIL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 18,239    21,744 
18,239    21,744 
Current assets      
Stocks 40,003    42,811 
Debtors 24,467    18,914 
Cash at bank and in hand (10,960)   (8,281)
53,510    53,444 
Creditors: amount falling due within one year (37,625)   (34,185)
Net current assets 15,885    19,259 
 
Total assets less current liabilities 34,124    41,003 
Creditors: amount falling due after more than one year (23,333)   (33,330)
Net assets 10,791    7,673 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 10,691    7,573 
Shareholders' funds 10,791    7,673 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 March 2024 and were signed on its behalf by:


-------------------------------
Sreehari Rao Bandla
Director
1
General Information
S & V Retail Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 11758456, registration address 37 Osborne Road, Southsea, England, Essex, PO5 3LR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Improvements to property   Total
  £   £   £
At 01 February 2023 4,117    31,667    35,784 
Additions 1,275      1,275 
Disposals    
At 31 January 2024 5,392    31,667    37,059 
Depreciation
At 01 February 2023 2,484    11,555    14,039 
Charge for year 759    4,022    4,781 
On disposals    
At 31 January 2024 3,243    15,577    18,820 
Net book values
Closing balance as at 31 January 2024 2,149    16,090    18,239 
Opening balance as at 01 February 2023 1,633    20,111    21,744 

The net book value of Improvements to property includes £ 16,090 (2023 £20,112) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2