Registered number
14270810
SVL3 Limited
Filleted Accounts
31 August 2024
SVL3 Limited
Registered number: 14270810
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 17,378,729 -
Current assets
Debtors 4 422,540 -
Cash at bank and in hand 218,975 1
641,515 1
Creditors: amounts falling due within one year 5 (8,436,509) -
Net current (liabilities)/assets (7,794,994) 1
Total assets less current liabilities 9,583,735 1
Creditors: amounts falling due after more than one year 6 (9,625,000) -
Net (liabilities)/assets (41,265) 1
Capital and reserves
Called up share capital 1 1
Profit and loss account (41,266) -
Shareholders' funds (41,265) 1
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Singh
Director
Approved by the board on 28 August 2025
SVL3 Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the return on investment. Turnover from the return on investment is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured when the rent becomes due.
Investment property
Investment properties are included at fair value. Gains are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
Additions 17,378,729
At 31 August 2024 17,378,729
Historical cost
At 31 August 2024 17,378,729
No depreciation is charged on the investment properties. The director reviewed the fair market value as at the balance sheet date and considers that the current valuation has not changed.
4 Debtors 2024 2023
£ £
Trade debtors 128,977 -
Other debtors 293,563 -
422,540 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to related undertakings and undertakings in which the company has a participating interest 8,392,543 -
Director's loan account 99 -
Other creditors 43,867 -
8,436,509 -
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,625,000 -
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 9,625,000 -
Bank loan is secured over the investment property of the company.
8 Related party transactions
During the year the company had inter-company transactions with SVL1 Ltd. Both of these companies are under common control. This company leased an investment property from SVL1 Ltd for a short time period before buying it in August 2024. As at the balance sheet date, the balance owed to SVL1 Ltd was £8,392,543 (2023 - £nil).
9 Other information
SVL3 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6, Maidenhead Trade Park
Priors Way
Maidenhead
Berkshire
SL6 2GQ
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