

	Company registration number:	02889996






SEVERNSIDE WHOLESALERS LIMITED

REPORT OF THE DIRECTORS' AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2024



SEVERNSIDE WHOLESALERS LIMITED

BALANCE SHEET

AS AT 31 December 2024


		2024		2023
	Notes	£	£	£	£

FIXED ASSETS
Intangible assets	3		0		4,125
Tangible assets	4		7,069		5,428

			7,069		9,553

CURRENT ASSETS
Stocks		357,858		415,412
Debtors		68,324		54,231
Cash at bank and in hand		150,255		113,012

		576,437		582,655

CREDITORS
Amounts falling due within one year		(134,217)		(124,425)

NET CURRENT ASSETS			442,220		458,230

TOTAL ASSETS LESS
CURRENT LIABILITIES			449,289		467,783

Creditors falling due after one year			(7,008)		(17,340)

PROVISIONS FOR LIABILITIES			(1,755)		(1,405)

NET ASSETS			440,526		449,038



CAPITAL AND RESERVES
Called-up equity share capital			1,000		1,000
Profit and loss account			439,526		448,038

SHAREHOLDERS FUNDS			440,526		449,038


For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.


The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.


All the members have consented to the preparation of abridged financial statements for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.


The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.


These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 17 September 2025 and signed on its behalf.



..........................................................................
S A Maxfield

17 September 2025
The annexed notes form part of these financial statements.

SEVERNSIDE WHOLESALERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible Assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses

Foreign Currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 25% reducing balance basis

Short leasehold property - 20% straight line basis

Stocks and Work In Progress

Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished good , cost includes a relevant proportion of overheads according to the stage of manufacture / completion.

Leasing

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Operating lease payments are recognised as an expenses on a straight line basis over the lease term.

Deferred Taxation

Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a a liability or asset will crystallise in the near future.

Pension Scheme

Contributions to defined contribution plans are expensed in the period to which they relate.

Employees

The average number of persons employed by the company (including directors) during the year was 7.



3.	Intangible fixed assets
		Total

	Cost
	At start of period	20,627
	At end of period	20,627

	Amortisation
	At start of period	16,502
	Provided during the period	4,125
	At end of period	20,627

	Net Book Values
	At start of period	4,125
	At end of period	0



4.	Tangible fixed assets

		Total

	Cost
	At start of period	67,749
	Additions	4,249
	Disposals	(1,387)
	At end of period	70,611

	Depreciation
	At start of period	62,321
	Provided during the period	2,267
	On disposals	(1,046)
	At end of period	63,542

	Net Book Value
	At start of period	5,428
	At end of period	7,069

Pension costs

Contributions to defined contribution plans are expensed in the period to which they relate.