1.
General Information
H & V Serviceplan Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02700489
. The registered office is Second Floor, Curzon House, 24 High Street, Banstead, Surrey, SM7 2LJ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors have concluded that it remains appropriate to prepare these financial statements on a going concern basis.
2.3.
Significant judgements and estimations
Management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
2.4.
Turnover
Turnover represents net invoiced sales, excluding value added tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Sales retentions are recognised as revenue at the point when they are agreed.
2.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Plant & Machinery |
|
| Computer Equipment |
|
Freehold property is included at fair value based on prevailing market conditions. Gains and losses are recognised in other comprehensive income and accumulated in equity, unless a loss exceeds a previous gain in which case this will be included in profit and loss.
Deferred taxation is provided on these gains at the future tax rate expected to apply when the property may be sold.
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6.
Investment Properties
Investment property is shown at the most recent valuation based on prevailing market conditions. No depreciation is provided for. Changes in fair value are recognised in the income statement.
Deferred taxation is provided on these gains at the future tax rate expected to apply when the property may be sold.
2.7.
Investments
Equity instruments are measured at fair value. Changes in fair value are recognised in the statement of comprehensive income. Fair value is estimated by using a valuation technique.
2.8.
Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
2.9.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.
2.10.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.11.
Taxation
2.11.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.12.
Pensions
The company contributes to personal pension plans for employees. The assets of the schemes are held separately from those of the company in independently administered funds. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits represents contributions payable by the company to the schemes.
3.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Rental income |
|
|
|
| 12,250 | 11,760 | ||
4.
Operating (Loss)/profit
The operating (loss)/profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
7.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Management |
|
|
|
|
|
|
||
8.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
9.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable | - |
|
|
| Other interest receivable | 209 | 582 | |
| Dividends from other current asset investments - listed | 102 | - | |
| Interest from other current asset investments - listed | 205 | - | |
| 516 | 595 | ||
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Other finance charges |
|
|
|
| 13,341 | 26,954 | ||
11.
Tax on Profit
The tax (credit)/charge on the (loss)/profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
( |
|
|
| Prior period adjustment |
( |
( |
|||
|
( |
|
||||
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
( |
|
|||
The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the (loss)/profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | (1,612,586) | 1,324,442 | |||
| Tax on profit at 25% (UK standard rate) |
( |
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
...CONTINUED
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
| Expenses not deductible for tax purposes |
|
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
( |
|||
| Prior period adjustment |
( |
( |
|||
| Tax losses for which no deferred tax was recognised |
|
|
|||
| Total tax charge for the period | (222,884) | 252,282 | |||
12.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Computer Equipment | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2025 |
|
|
|
|
| Additions |
|
|
|
|
| As at 31 December 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 January 2025 |
|
|
|
|
| Provided during the period |
|
|
|
|
| As at 31 December 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2025 |
|
|
|
|
| As at 1 January 2025 |
|
|
|
|
Included in cost of freehold property is freehold land of £102,000 (2024: £102,000) which is not depreciated.
On 31 December 2018 one of the directors revalued the freehold property to reflect fair value. Depreciation has been charged in the buildings element of the freehold property from 1 January 2019.
Cost or valuation as at 31 December 2025 represented by:
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Computer Equipment | Total | |
| £ | £ | £ | £ | |
| At cost | 89,153 | 1,955 | 35,516 | 126,624 |
| At valuation | 80,847 | - | - | 80,847 |
| 170,000 | 1,955 | 35,516 | 207,471 | |
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
13.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 January 2025 and 31 December 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 104,887 | 104,887 | |
On 31 December 2018 one of the directors revalued the investment property to reflect fair value.
14.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Work in progress |
|
|
|
15.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Social security and other taxes |
|
|
|
| Corporation tax recoverable assets |
|
|
|
| Amounts owed by related parties | 1,219,472 | 2,163,521 | |
|
|
|
||
16.
Current Asset Investments
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other investments, held for sale |
|
|
|
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
17.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
| Directors' loan accounts |
|
|
|
| Amounts owed to related parties |
|
|
|
|
|
|
||
Of the creditors the following amounts are secured.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 93,462 | 56,099 |
Lloyds Bank Plc holds a mortgage deed dated 23 August 2006, and a debenture deed dated 12 October 2012, securing all of the company's liabilities to the bank by means of fixed and floating charges over the company's freehold property and other assets.
On 8 November 2014 the company, together with Wellington Properties Limited, entered into an omnibus guarantee and set-off agreement with Lloyds Bank Plc to secure all amounts becoming due to the bank by either company.
18.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 January 2025 |
|
21,333 |
| Utilised |
( |
(362) |
| Balance at 31 December 2025 |
|
20,971 |
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
20.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
21.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the income statement in respect of defined contribution schemes was £216,000 (2024: £216,000).
At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.
22.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
H & V Serviceplan Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
23.
Reserves
| Revaluation reserve | Fair value reserve | Income Statement | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 January 2025 |
|
|
|
| Loss for the year and total comprehensive income | - | - |
( |
| Dividends paid | - | - | (529,495) |
| As at 31 December 2025 |
|
|
|
24.
Related Party Disclosures
D Coldwell, A J Coldwell and J Pennington, who are directors of the company, are also directors of Wellington Properties Limited. D Coldwell is also director of Alma Limited.
During the year under review, the company paid rent to Wellington Properties Limited totalling £24,000 (2024: £24,000) and loaned Wellington Properties Limited a further £Nil (2024: £60,000). Wellington Properties Limited repaid the company £770,000 (2024: £200,000) of the outstanding loan. The loan is repayable on demand. Wellington Properties Limited paid expenses on behalf of the company totalling £150,049 (2024: £3,058).
At the balance sheet date, the amounts outstanding were as follows:
|
2025
|
2024
|
|||
|
Due from
|
Due to
|
Due from
|
Due to
|
|
|
£
|
£
|
£
|
£
|
|
|
Wellington Properties Limited
|
1,219,472
|
-
|
2,163,521
|
-
|
|
Alma Limited
|
-
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
60,000
|
-
|
60,000
|
|
1,219,472
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
60,000
|
2,163,521
|
60,000
|
|
25.
Controlling Parties
The company's ultimate controlling party is
A J Coldwell, D Coldwell and J Pennington
by virtue of their interest in the share capital of the company.