Company registration number SC343126 (Scotland)
SVS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SVS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SVS HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
7,000,000
7,000,000
Current assets
Debtors
4
249,850
180,000
Cash at bank and in hand
89
-
0
249,939
180,000
Creditors: amounts falling due within one year
5
(251,000)
(181,004)
Net current liabilities
(1,061)
(1,004)
Net assets
6,998,939
6,998,996
Capital and reserves
Called up share capital
3,500,002
3,500,002
Profit and loss reserves
3,498,937
3,498,994
Total equity
6,998,939
6,998,996

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 November 2024 and are signed on its behalf by:
G Henry
G Henry
Director
Company Registration No. SC343126
SVS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

SVS Holdings Limited is a private company limited by shares incorporated in Scotland. The registered office is Silvertrees Drive, Westhill, Aberdeen, AB32 6BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.6
Equity instruments

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
SVS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
7,000,000
7,000,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
249,850
180,000
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank overdrafts
-
0
4
Other creditors
251,000
181,000
251,000
181,004
6
Related party transactions

During the year, the company made advances to the directors of £180,000 and received credits of £250,000 which resulted in amounts due by the company at the year end of £250,000 (2023 - £180,000).

 

There are no set repayment terms and no interest is charged on the above balance.

 

The company had transactions in the year with a wholly owned subsidiary and has taken advantage of the exemptions within FRS 102 section 1AC.35 (Related Party Disclosure) which allows exemption from the disclosure of related party transactions with other group companies.true

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