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REGISTERED NUMBER: 00524572 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SERVO & ELECTRONIC SALES LIMITED

SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SERVO & ELECTRONIC SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P M Black
Mrs A J Carter
M C Greenwood





SECRETARY: Mrs S J Black





REGISTERED OFFICE: Connector House
Harden Road
Lydd
Kent
TN29 9LX





REGISTERED NUMBER: 00524572 (England and Wales)






SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 431,164 439,128

CURRENT ASSETS
Stocks 1,628,160 1,511,594
Debtors 6 820,757 415,310
Cash at bank and in hand 304,911 480,753
2,753,828 2,407,657
CREDITORS
Amounts falling due within one year 7 522,072 473,707
NET CURRENT ASSETS 2,231,756 1,933,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,662,920

2,373,078

CREDITORS
Amounts falling due after more than one
year

8

(27,170

)

(33,391

)

PROVISIONS FOR LIABILITIES (2,390 ) (968 )
NET ASSETS 2,633,360 2,338,719

CAPITAL AND RESERVES
Called up share capital 313 313
Share premium 159,563 159,563
Capital redemption reserve 154,550 154,550
Retained earnings 2,318,934 2,024,293
2,633,360 2,338,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)

BALANCE SHEET - continued
31 DECEMBER 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:




P M Black - Director Mrs A J Carter - Director




M C Greenwood - Director


SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Servo & Electronic Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 33% on a straight line basis, 25% on a straight line basis, 20% on a straight line basis and 10% on 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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably.
Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit and loss account, unless the provision was originally recognised as part of the cost of an asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 458,232 127,195 585,427
Additions - 7,564 7,564
Disposals - (9,250 ) (9,250 )
At 31 December 2024 458,232 125,509 583,741
DEPRECIATION
At 1 January 2024 39,449 106,850 146,299
Charge for year 6,575 6,795 13,370
Eliminated on disposal - (7,092 ) (7,092 )
At 31 December 2024 46,024 106,553 152,577
NET BOOK VALUE
At 31 December 2024 412,208 18,956 431,164
At 31 December 2023 418,783 20,345 439,128

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 804,744 393,231
Other debtors 16,013 22,079
820,757 415,310

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 232,255 270,767
Taxation and social security 268,172 186,695
Other creditors 16,089 10,689
522,072 473,707

SERVO & ELECTRONIC SALES LIMITED (REGISTERED NUMBER: 00524572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,170 33,391