Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-307falsefalse2023-12-01No description of principal activity7trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04173528 2023-12-01 2024-11-30 04173528 2022-12-01 2023-11-30 04173528 2024-11-30 04173528 2023-11-30 04173528 c:Director1 2023-12-01 2024-11-30 04173528 d:Buildings 2023-12-01 2024-11-30 04173528 d:Buildings 2024-11-30 04173528 d:Buildings 2023-11-30 04173528 d:Buildings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:PlantMachinery 2023-12-01 2024-11-30 04173528 d:PlantMachinery 2024-11-30 04173528 d:PlantMachinery 2023-11-30 04173528 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:MotorVehicles 2023-12-01 2024-11-30 04173528 d:MotorVehicles 2024-11-30 04173528 d:MotorVehicles 2023-11-30 04173528 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:FurnitureFittings 2023-12-01 2024-11-30 04173528 d:FurnitureFittings 2024-11-30 04173528 d:FurnitureFittings 2023-11-30 04173528 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:OfficeEquipment 2023-12-01 2024-11-30 04173528 d:OfficeEquipment 2024-11-30 04173528 d:OfficeEquipment 2023-11-30 04173528 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 04173528 d:CurrentFinancialInstruments 2024-11-30 04173528 d:CurrentFinancialInstruments 2023-11-30 04173528 d:Non-currentFinancialInstruments 2024-11-30 04173528 d:Non-currentFinancialInstruments 2023-11-30 04173528 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 04173528 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04173528 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 04173528 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 04173528 d:ShareCapital 2024-11-30 04173528 d:ShareCapital 2023-11-30 04173528 d:RetainedEarningsAccumulatedLosses 2024-11-30 04173528 d:RetainedEarningsAccumulatedLosses 2023-11-30 04173528 c:FRS102 2023-12-01 2024-11-30 04173528 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 04173528 c:FullAccounts 2023-12-01 2024-11-30 04173528 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 04173528 2 2023-12-01 2024-11-30 04173528 6 2023-12-01 2024-11-30 04173528 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 04173528









SEAL & VALVE SERVICES UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
SEAL & VALVE SERVICES UK LIMITED
REGISTERED NUMBER: 04173528

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,464,826
1,369,046

Investments
 6 
15,100
15,100

  
1,479,926
1,384,146

Current assets
  

Stocks
  
3,575
3,577

Debtors: amounts falling due within one year
 7 
1,213,720
685,846

Current asset investments
 8 
300,000
300,000

Cash at bank and in hand
 9 
771,111
927,016

  
2,288,406
1,916,439

Creditors: amounts falling due within one year
 10 
(650,847)
(418,971)

Net current assets
  
 
 
1,637,559
 
 
1,497,468

Total assets less current liabilities
  
3,117,485
2,881,614

Creditors: amounts falling due after more than one year
 11 
(15,297)
-

Provisions for liabilities
  

Deferred tax
  
(106,435)
(90,580)

  
 
 
(106,435)
 
 
(90,580)

Net assets
  
2,995,753
2,791,034


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,995,653
2,790,934

  
2,995,753
2,791,034


Page 1

 
SEAL & VALVE SERVICES UK LIMITED
REGISTERED NUMBER: 04173528
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P A Lee
Director

Date: 11 June 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Seal & Valve Services UK Limited is a private company limited by shares, registered in the United Kingdom, number 04173528. Its registered office is Manor House, 35 St. Thomas's Road, Chorley, Lancashire, PR7 1HP.
During the year, the principal activity of the company continued to be that of the service and maintenance of process valves.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% RB
Motor vehicles
-
25% RB
Fixtures and fittings
-
15% RB
Office equipment
-
33% RB

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).


4.


Dividends

2024
2023
£
£


Dividends analysis - user input
200,000
200,000

200,000
200,000


5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 December 2023
1,064,317
428,586
327,575
52,330
42,608


Additions
-
19,906
139,086
4,048
9,333



At 30 November 2024

1,064,317
448,492
466,661
56,378
51,941



Depreciation


At 1 December 2023
-
317,295
169,621
29,211
30,243


Charge for the year on owned assets
-
17,335
50,543
3,563
5,151



At 30 November 2024

-
334,630
220,164
32,774
35,394



Net book value



At 30 November 2024
1,064,317
113,862
246,497
23,604
16,547



At 30 November 2023
1,064,317
111,291
157,954
23,119
12,365
Page 7

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 December 2023
1,915,416


Additions
172,373



At 30 November 2024

2,087,789



Depreciation


At 1 December 2023
546,370


Charge for the year on owned assets
76,592



At 30 November 2024

622,962



Net book value



At 30 November 2024
1,464,827



At 30 November 2023
1,369,046


6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 December 2023
15,100



At 30 November 2024
15,100





7.


Debtors

2024
2023
£
£


Trade debtors
919,182
334,084

Other debtors
294,538
351,762
Page 8

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.Debtors (continued)


1,213,720
685,846



8.


Current asset investments

2024
2023
£
£

Unlisted investments
300,000
300,000

300,000
300,000



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
771,111
927,016

771,111
927,016



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
62,312
67,192

Corporation tax
155,449
125,466

Other taxation and social security
179,125
134,348

Obligations under finance lease and hire purchase contracts
8,739
-

Other creditors
239,328
85,054

Accruals and deferred income
5,894
6,911

650,847
418,971


Page 9

 
SEAL & VALVE SERVICES UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
15,297
-

15,297
-



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£

 
-
 
-

 
Page 10