REGISTERED NUMBER: 01737935 (England and Wales)

Financial Statements

For The Year Ended 31 December 2024

for

Sevale Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Cooke

P J Dennehy

C J Lynch

SECRETARY:

M J Walsh

REGISTERED OFFICE:

14 Lower Tuffley Lane

Gloucester

GL2 5DT

REGISTERED NUMBER:

01737935 (England and Wales)

AUDITORS:

Kingscott Dix Limited

Chartered Accountants

and Statutory Auditor

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

Lloyds Bank

19 Eastgate Street

Gloucester

GL1 1NU

FIXED ASSETS

Tangible assets

4

73,826

49,576

CURRENT ASSETS

Stocks

5

466,212

463,336

Debtors

6

254,023

173,294

Cash at bank and in hand

79,100

44,504

799,335

681,134

CREDITORS

Amounts falling due within one year

7

324,510

171,898

NET CURRENT ASSETS

474,825

509,236

TOTAL ASSETS LESS CURRENT LIABILITIES

548,651

558,812

CREDITORS

Amounts falling due after more than one year

8

(12,611

)

(27,020

)

PROVISIONS FOR LIABILITIES

(12,498

)

-

NET ASSETS

523,542

531,792

CAPITAL AND RESERVES

Called up share capital

11

50

50

Capital redemption reserve

50

50

Retained earnings

523,442

531,692

SHAREHOLDERS' FUNDS

523,542

531,792

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 26 May 2025 and were signed on its behalf by:

P J Dennehy - Director

1.	STATUTORY INFORMATION

Sevale Engineering 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

- 15% on cost

Fixtures and fittings

- 15% on cost

Motor vehicles

- 20% on cost

Computer equipment

- 25% on cost

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

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors plus debt factoring are recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debt factoring

Those debtors which are subject to debt factoring remain the responsibility of the Company and as a result are shown as Trade debtors in the financial statements, the amount advanced by the debt factoring company being recognised as a creditor.

Factoring charges are recognised on a payable basis in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

153,901

20,152

26,363

200,416

Additions

37,268

-

-

37,268

Disposals

(1,768

)

(20,152

)

-

(21,920

)

At 31 December 2024

189,401

-

26,363

215,764

DEPRECIATION

At 1 January 2024

108,632

20,152

22,056

150,840

Charge for year

9,210

-

2,350

11,560

Eliminated on disposal

(310

)

(20,152

)

-

(20,462

)

At 31 December 2024

117,532

-

24,406

141,938

NET BOOK VALUE

At 31 December 2024

71,869

-

1,957

73,826

At 31 December 2023

45,269

-

4,307

49,576

The net book value above includes amounts attributable to assets subject to hire purchase and finance lease agreements at 31 December 2024 of £13,634 (2023 :£16,844).

5.

STOCKS

31.12.24

31.12.23

£

£

Stocks

466,212

463,336

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

209,618

123,584

Amounts owed by group undertakings

-

40,509

Prepayments and accrued income

44,405

9,201

254,023

173,294

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other loans

10,000

10,000

Hire purchase contracts (see note 9)

4,409

4,100

Trade creditors

122,728

111,526

Amounts owed to group undertakings

115,945

-

Social security and other taxes

18,550

12,722

Accrued expenses

52,878

33,550

324,510

171,898

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other loans - 1-2 years

5,000

10,000

Other loans - 2-5 years

-

5,000

Hire purchase contracts (see note 9)

7,611

12,020

12,611

27,020

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

4,409

4,100

Between one and five years

7,611

12,020

12,020

16,120

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

42,000

15,397

Between one and five years

147,000

-

189,000

15,397

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

12,020

16,120

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

50

Ordinary

£1

50

50

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Baily (Senior Statutory Auditor)

for and on behalf of Kingscott Dix Limited

13.	ULTIMATE CONTROLLING PARTY

The company's parent company is Compound Feed Engineering Limited, a company registered in England and Wales.

The ultimate parent company is Compound Feed Engineering Limited, a company registered in Ireland. Compound Feed Engineering Limited prepare consolidated financial statements which can be found at their registered office.