2023-09-012024-08-312024-08-31false10917716SV ACADEMY 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SV ACADEMY LTD

Registered Number
10917716
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

SV ACADEMY LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

CLEMENT, Orlando
RAMANAH, Sonia Cheryl Joy

Registered Address

6 Eltham High Street
London
SE9 1DA

Registered Number

10917716 (England and Wales)
SV ACADEMY LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets450,74284,365
50,74284,365
Current assets
Debtors522,569150,342
Cash at bank and on hand762,460516,808
785,029667,150
Creditors amounts falling due within one year6(157,687)(156,475)
Net current assets (liabilities)627,342510,675
Total assets less current liabilities678,084595,040
Provisions for liabilities(9,641)(18,073)
Net assets668,443576,967
Capital and reserves
Profit and loss account668,443576,967
Shareholders' funds668,443576,967
The financial statements were approved and authorised for issue by the Board of Directors on 19 December 2024, and are signed on its behalf by:
RAMANAH, Sonia Cheryl Joy
Director
Registered Company No. 10917716
SV ACADEMY LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles3.33
Office Equipment4
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year1617
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 23158,268
Additions1,157
At 31 August 24159,425
Depreciation and impairment
At 01 September 2373,903
Charge for year34,780
At 31 August 24108,683
Net book value
At 31 August 2450,742
At 31 August 2384,365
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,38330,652
Other debtors-100,267
Prepayments and accrued income19,18619,423
Total22,569150,342
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables20,10922,027
Taxation and social security77,22571,869
Other creditors44,78044,523
Accrued liabilities and deferred income15,57318,056
Total157,687156,475
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.