Registration number:
S&V Bars Ltd
for the Period from 18 August 2023 to 31 August 2024
S&V Bars Ltd
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
S&V Bars Ltd
Company Information
Directors |
Mr Simon Stephen John Belsey Ms Vanda Maria Vieira Tavares De Oliveira |
Registered office |
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Accountants |
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S&V Bars Ltd
(Registration number: 15081846)
Abridged Balance Sheet as at 31 August 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
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Total assets less current liabilities |
( |
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Accruals and deferred income |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
2 |
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Retained earnings |
(625) |
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Shareholders' deficit |
(623) |
For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
S&V Bars Ltd
(Registration number: 15081846)
Abridged Balance Sheet as at 31 August 2024
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S&V Bars Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 18 August 2023 to 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England and wales.
The address of its registered office is:
England and Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
S&V Bars Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 18 August 2023 to 31 August 2024
Judgements
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate. |
Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and
provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value
added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture & Fixtures |
15% Straight line Method |
Plant & machinery |
15% Straight line Method |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.
S&V Bars Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 18 August 2023 to 31 August 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised
cost using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the company will not be able to collect all
amounts due according to the original terms of the receivables.
Stocks
determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct
labour costs and those overheads that have been incurred in bringing the inventories to their present location
and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying
amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised
immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve
months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
S&V Bars Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 18 August 2023 to 31 August 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is
deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Loss/profit before tax |
Arrived at after charging/(crediting)
2024 |
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Depreciation expense |
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Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2024 |
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Depreciation |
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Charge for the period |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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Stocks |
2024 |
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Other inventories |
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