S V RUTTER LTD


Directors	RUTTER, Anne Michele
	RUTTER, Irene
	RUTTER, Stanley Victor
	RUTTER, Tony Andrew


Company Secretary	RUTTER, Anne Michele


Registered Address	Suite 7, S V Rutter Business Centre
	126 Great Lime Road
	Newcastle Upon Tyne
	NE12 6RU


Registered Number	01454361 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	25
	Vehicles	25

	Investments
	Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

	Investment property
	Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It has been revalued to its fair value at the reporting date and any changes in fair value recognised in profit and loss.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement Stock includes finance charges incurred during the acquisition and development of land. The total finance costs included within stock is £87,417. Work in progress Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for the contract.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale.  The impairment loss is recognised immediately in the Income Statement

Stock includes finance charges incurred during the acquisition and development of land. The total finance costs included within stock is £87,417.

Work in progress

Profit is recognised on contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for the contract.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	29		29

3.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 April 24	335,258	78,446	413,704
Additions	46,738	-	46,738
Disposals	(124,163)	(35,927)	(160,090)
At 31 March 25	257,833	42,519	300,352
Depreciation and impairment
At 01 April 24	216,696	75,349	292,045
Charge for year	-	32,653	32,653
On disposals	(101,373)	(35,026)	(136,399)
At 31 March 25	115,323	72,976	188,299
Net book value
At 31 March 25	142,510	(30,457)	112,053
At 31 March 24	118,562	3,097	121,659

4.	Investment property
	The investment property has not been valued by an independent expert. The directors' best estimate of the market value of the investment property at the year end, with regard to current market condition is £200,000.


		£
	Fair value at 01 April 24	200,000
	At 31 March 25	200,000

5.	Fixed asset investments
	Other investments are listed investments.

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 24	90,873	90,873
Revaluations	(3,503)	(3,503)
At 31 March 25	87,370	87,370
Net book value
At 31 March 25	87,370	87,370
At 31 March 24	90,873	90,873

	Notes
	¹Other investments other than loans

6.	Stocks

	2025	2024
	£	£
Other stocks	1,338,978	1,338,978
Total	1,338,978	1,338,978

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	549,730	381,383
Other debtors	27,954	9,133
Prepayments and accrued income	17,883	14,727
Total	595,567	405,243


	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 ther financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Amounts recoverable on contracts represent the excess of the value of work carried out to the balance sheet date over cumulative payments on account.

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  ther financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Amounts recoverable on contracts represent the excess of the value of work carried out to the balance sheet date over cumulative payments on account.

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	301,392	354,674
Bank borrowings and overdrafts	26,774	82,639
Amounts owed to related parties	466,443	206,824
Taxation and social security	91,695	50,274
Finance lease and HP contracts	24,908	45,711
Other creditors	151,035	116,952
Accrued liabilities and deferred income	11,691	10,970
Total	1,073,938	868,044


	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.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	47,048	77,481
Other creditors	32,971	15,510
Total	80,019	92,991


	A Coronavirus Business Interruption Loan of £250,000 was drawn down on 21 May 2020. The loan carries interest at the fixed rate of 8.90% and is repayable in monthly instalments over 5 years, following an initial one-year capital repayment holiday. In addition a loan of £80,000 was drawn on 19 January 2024 from the SV Rutter (Builder) Limited Directors Retirement Benefit Scheme. It is repayable in January 2029 and bears interest at 6.25% per annum. The loan is secured by a legal charge on the investment property.

A Coronavirus Business Interruption Loan of £250,000 was drawn down on 21 May 2020. The loan carries interest at the fixed rate of 8.90% and is repayable in monthly instalments over 5 years, following an initial one-year capital repayment holiday.

In addition a loan of £80,000 was drawn on 19 January 2024 from the SV Rutter (Builder) Limited Directors Retirement Benefit Scheme. It is repayable in January 2029 and bears interest at 6.25% per annum. The loan is secured by a legal charge on the investment property.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	32,971		15,510


	Assets held under hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

11.	Other commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £10,500 (2024 - £Nil).

12.	Directors advances, credits and guarantees
	During the year the directors had a loan account with the company. At the balance sheet date the company owed the directors £466,443 (2024 - £206,824). This loan is unsecured, interest free and repayable upon demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		112,053		121,659
Investments	5		87,370		90,873
Investment property	4		200,000		200,000
			399,423		412,532
Current assets
Stocks	6	1,338,978		1,338,978
Debtors	7	595,567		405,243
Cash at bank and on hand		38,065		53,927
		1,972,610		1,798,148
Creditors amounts falling due within one year	8	(1,073,938)		(868,044)
Net current assets (liabilities)			898,672		930,104
Total assets less current liabilities			1,298,095		1,342,636
Creditors amounts falling due after one year	9		(80,019)		(92,991)
Net assets			1,218,076		1,249,645
Capital and reserves
Called up share capital			50		50
Profit and loss account			1,218,026		1,249,595
Shareholders' funds			1,218,076		1,249,645