REGISTERED NUMBER: 04978899 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SVS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

IC Garthwaite

REGISTERED OFFICE:

Ellifoot Lane

Burstwick

E. Yorks

HU12 9EF

REGISTERED NUMBER:

04978899 (England and Wales)

ACCOUNTANTS:

Majors Limited

57 Spyvee Street

Hull

E. Yorks

HU8 7JJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

14,123

20,375

14,123

20,375

CURRENT ASSETS

Stocks

3,520

12,330

Debtors

6

66,670

61,667

Cash at bank and in hand

26,718

21,303

96,908

95,300

CREDITORS

Amounts falling due within one year

7

27,434

27,344

NET CURRENT ASSETS

69,474

67,956

TOTAL ASSETS LESS CURRENT LIABILITIES

83,597

88,331

CREDITORS

Amounts falling due after more than one year

8

(4,410

)

(14,814

)

PROVISIONS FOR LIABILITIES

(1,647

)

(2,769

)

NET ASSETS

77,540

70,748

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

77,440

70,648

SHAREHOLDERS' FUNDS

77,540

70,748

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 director acknowledges his 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.

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 director and authorised for issue on 26 September 2025 and were signed by:

IC Garthwaite - Director

1.	STATUTORY INFORMATION

SVS 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

in accordance with the property

Plant and machinery etc

-

33% on cost, 20% on cost and 15% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

7,500

AMORTISATION

At 1 January 2024

and 31 December 2024

7,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

6,643

79,066

85,709

DEPRECIATION

At 1 January 2024

5,454

59,880

65,334

Charge for year

443

5,809

6,252

At 31 December 2024

5,897

65,689

71,586

NET BOOK VALUE

At 31 December 2024

746

13,377

14,123

At 31 December 2023

1,189

19,186

20,375

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

6,126

5,496

Other debtors

-

132

Director's loan account

46,696

43,580

Tax

4,494

4,494

Prepayments and accrued income

9,354

7,965

66,670

61,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,404

10,149

Trade creditors

6,130

6,080

Tax

2,949

4,790

Social security and other taxes

955

570

Pension creditor

304

158

VAT

1,783

2,236

Other creditors

2,909

1,361

Accrued expenses

2,000

2,000

27,434

27,344

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

4,410

14,814

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

IC Garthwaite

Balance outstanding at start of year

43,580

41,260

Amounts advanced

16,800

16,892

Amounts repaid

(13,684

)

(14,572

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

46,696

43,580