LV ENGINEERING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2025
Company Registration No. 06993145 (England and Wales)
LV ENGINEERING LIMITED
COMPANY INFORMATION
Directors
J Ashe
T Ventre
P Ventre
M Ventre
Secretary
J Ashe
Company number
06993145
Registered office
Laker House
North Road
Ellesmere Port
CH65 1BA
Auditor
DSG Audit
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
LV ENGINEERING LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 15
LV ENGINEERING LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 29 MARCH 2025
- 1 -

The directors present the strategic report for the period ended 29 March 2025.

Principal activities

The principal activity of the company during the period was that of the holding company of Laker Vent Engineering Limited, a company registered in the United Kingdom.

Business review

The company is a dormant, non trading entity.

 

During the period-ended 29 March 2025 the company received dividends in the amount of £181,667 (2024: £313,460) from its wholly owned subsidiary undertaking, Laker Vent Engineering Limited which were duly remitted to LV Parent Company Limited, the company's ultimate controlling party.

 

The company's net assets as at 29 March 2025 amounted to £499,000 (2024: £499,000).

 

Internal controls

 

The directors are responsible for the company's systems of internal controls and for reviewing its effectiveness. Our internal control system is designed to manage, rather than eliminate the risks of failure to achieve our business objectives and can only provide reasonable and not absolute assurance against misstatement or loss. Our Risk Register is assessed monthly.

 

Going concern statement

 

The directors have a reasonable expectation that the company will have adequate resources to continue in operation for at least twelve months from the signing date of these financial statements.

 

The company does not trade but receives dividend income from Laker Vent Engineering Limited, as determined by their Board of Directors. This is currently the company's sole source of income and should that income stream cease then there would be no detrimental financial impact on the company. The company incurs no administrative expenses and its balance sheet is represented by its cost of investment in Laker Vent Engineering Limited and balance payable to LV Parent Company Limited/recoverable from Laker Vent Engineering Limited.

Principal risks and uncertainties

The directors do not consider the company to be faced with any principal risks and uncertainties.

Financial key performance indicators

The directors consider that there are no key performance indicators in connection with the company's periods ended 29 March 2025 and 30 March 2024. The company receives dividends from Laker Vent Engineering Limited, its wholly owned subsidiary which are duly remitted to LV Parent Limited, the company's ultimate controlling party. The level of dividends payable by Laker Vent Engineering Limited to the company is determined by their Board of Directors.

 

On behalf of the board

This report was approved by the board and signed on its behalf.

M Ventre
Director
1 August 2025
LV ENGINEERING LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 MARCH 2025
- 2 -

The directors present their annual report and financial statements for the period ended 29 March 2025.

 

Principal activities

The principal activity of the company is disclosed within the strategic report.

Results and dividends

The profit for the period, after taxation, amounted to £182,000 (2024: £313,000).

 

Ordinary dividends were paid amounting to £181,667 (2024: £313,460).

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

J Ashe
T Ventre
P Ventre
M Ventre
Auditor

The auditor, DSG Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
M Ventre
Director
1 August 2025
LV ENGINEERING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 29 MARCH 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LV ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LV ENGINEERING LIMITED
- 4 -
Opinion

We have audited the financial statements of LV Engineering Limited (the 'company') for the period ended 29 March 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

LV ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LV ENGINEERING LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

LV ENGINEERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LV ENGINEERING LIMITED (CONTINUED)
- 6 -

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

 

The following laws and regulations were identified as being of significance to the entity:

 

 

 

Audit procedures undertaken in response to the potential risk relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the group and parent company complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of entries in the nominal ledger, including journal entries which may be indicative of fraud; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

 

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the group and parent company's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Laura Leslie BSc FCA
Senior Statutory Auditor
For and on behalf of DSG Audit
1 August 2025
Chartered Accountants
Statutory Auditor
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
LV ENGINEERING LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 29 MARCH 2025
- 7 -
period
Period
ended
ended
29 March
30 March
2025
2024
Notes
£'000
£'000
Turnover
-
-
Interest receivable and similar income
4
182
313
Profit before taxation
182
313
Tax on profit
5
-
0
-
0
Profit for the financial period
182
313
LV ENGINEERING LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 29 MARCH 2025
- 8 -
period
Period
ended
ended
29 March
30 March
2025
2024
£'000
£'000
Profit for the period
182
313
Other comprehensive income
-
-
Total comprehensive income for the period
182
313
LV ENGINEERING LIMITED
BALANCE SHEET
AS AT 29 MARCH 2025
29 March 2025
- 9 -
29 March 2025
30 March 2024
Notes
£'000
£'000
£'000
£'000
Fixed assets
Investments
7
677
677
Current assets
-
-
Creditors: amounts falling due within one year
9
(178)
(178)
Net current liabilities
(178)
(178)
Net assets
499
499
Capital and reserves
Called up share capital
10
-
0
-
0
Share premium account
498
498
Profit and loss reserves
1
1
Total equity
499
499

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
M Ventre
Director
Company registration number 06993145 (England and Wales)
LV ENGINEERING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 MARCH 2025
- 10 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£'000
£'000
£'000
£'000
Balance at 2 April 2023
-
0
498
1
499
Period ended 30 March 2024:
Profit and total comprehensive income
-
-
313
313
Dividends
6
-
-
887
887
Distributions from subsidiary undertaking arising on transfer of freehold property
6
-
-
(1,200)
(1,200)
Balance at 30 March 2024
-
0
498
1
499
Period ended 29 March 2025:
Profit and total comprehensive income
-
-
182
182
Dividends
6
-
-
(182)
(182)
Balance at 29 March 2025
-
0
498
1
499
LV ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 MARCH 2025
- 11 -
1
Accounting policies
Company information

LV Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Laker House, North Road, Ellesmere Port, CH65 1BA.

 

The principal activity of the company is disclosed in the Strategic Report.

1.1
Reporting period

The annual financial statements are compiled for the period to 29 March 2025 being the closest Saturday to the 31 March 2025 accounting reference date.

1.2
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.

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 £'000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of LV Parent Company Limited. These consolidated financial statements are available from its registered office, Laker House, North Road, Ellesmere Port, South Wirral, CH65 1BA.

1.3
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.

1.4
Fixed asset investments

Interests in subsidiaries 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.

LV ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2025
1
Accounting policies
(Continued)
- 12 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Operating profit
2025
2024
Operating profit for the period is stated after charging:
£'000
£'000
Fees payable to the company's auditor for the audit of the company's financial statements
-
0
-
0
LV ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2025
- 13 -
3
Employees

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

2025
2024
Number
Number
Total
0
0
4
Interest receivable and similar income
2025
2024
£'000
£'000
Income from fixed asset investments
Income from shares in group undertakings
182
313
5
Taxation

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

2025
2024
£'000
£'000
Profit before taxation
182
313
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
46
78
Tax effect of income not taxable in determining taxable profit
(46)
(78)
Taxation charge for the period
-
-
6
Dividends and distributions
2025
2024
£'000
£'000
Dividends and distributions
Final paid
182
313
Distributions received from subsidiary
-
(1,200)
182
(887)
LV ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2025
6
Dividends and distributions
(Continued)
- 14 -
Distributions to parent company
Arising on transfer of freehold property
-
0
1,200

By way of written resolution on 20 April 2023 the company made a distribution in specie comprising the freehold land and property with a value of £1,200,000. No such distributions were made by the company in respect of the period ended 29 March 2025.

7
Fixed asset investments
2025
2024
Notes
£'000
£'000
Investments in subsidiaries
8
677
677
8
Subsidiaries

Details of the company's subsidiaries at 29 March 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Laker Vent Engineering Limited
North Road, Ellesmere Port, South Wirral, CH65 1BA
Ordinary A shares and Ordinary B shares
100.00
9
Creditors: amounts falling due within one year
2025
2024
£'000
£'000
Amounts owed to group undertakings
178
178

Amounts owed to group undertakings are unsecured, interest free and payable on demand.

10
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£'000
£'000
'A' Ordinary shares of 1p each
7,650
7,650
-
0
-
0
'B' Ordinary shares of 1p each
7,650
7,650
-
0
-
0
'C' Ordinary shares of 1p each
7,650
7,650
-
0
-
0
22,950
22,950
-
0
-
0
11
Events after the reporting date

Equity dividends of £93,333 were paid by the company on 1 April 2025.

LV ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 MARCH 2025
- 15 -
12
Related party transactions

There were no transactions during the period with related parties other than with group companies. The company is exempt from disclosing transactions with group companies that are wholly owned within the same group.

13
Ultimate controlling party

At 29 March 2025, the company is a wholly owned subsidiary of LV Parent Company Limited. The ultimate parent company is LV Parent Company Limited, which prepares consolidated financial statements and is registered in the United Kingdom, company number 14700083.

 

The company is under the control of LV Parent Company Limited.

 

The largest and smallest group into which the results of this entity are consolidated is LV Parent Company Limited. The consolidated financial statements of this group are available to the public and may be obtained from the Registrar of Companies, Crown Way, Cardiff, CF14 3UZ.

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