Registration number: 01558132

Southern Valve And Fitting Co. Limited(The)

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Southern Valve And Fitting Co. Limited(The)

Company Information

Directors

NJ Poole JN Poole

Company secretary

NJ Poole

Registered office

Unit 8 Northridge Park Haywood Way Ivyhouse Lane Hastings East Sussex TN35 4PP

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Southern Valve And Fitting Co. Limited(The)

(Registration number: 01558132)
Balance Sheet as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	321,793	306,374
Current assets
Stocks	5	94,845	101,849
Debtors	6	67,503	118,785
Cash at bank and in hand		476,700	352,793
		639,048	573,427
Creditors: Amounts falling due within one year	7	(138,901)	(96,080)
Net current assets		500,147	477,347
Total assets less current liabilities		821,940	783,721
Creditors: Amounts falling due after more than one year	7	(49,902)	(62,971)
Provisions for liabilities		(8,390)	-
Net assets		763,648	720,750
Capital and reserves
Called up share capital		100	100
Retained earnings		763,548	720,650
Shareholders' funds		763,648	720,750

For the financial year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2026 and signed on its behalf by:
 

......................................... NJ Poole Company secretary and director

......................................... JN Poole Director

Southern Valve And Fitting Co. Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 8 Northridge Park Haywood Way
Ivyhouse Lane
Hastings
East Sussex
TN35 4PP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Southern Valve And Fitting Co. Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures Fittings & Equipment	10% Reducing balance basis
Computer Equipment	25% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Southern Valve And Fitting Co. Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2025 - 4).

Southern Valve And Fitting Co. Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 July 2025	324,665	5,670	52,392	2,546	385,273
Additions	-	-	55,255	-	55,255
Disposals	-	-	(35,269)	-	(35,269)
At 30 June 2026	324,665	5,670	72,378	2,546	405,259
Depreciation
At 1 July 2025	43,433	3,178	30,268	2,020	78,899
Charge for the year	4,836	250	14,385	526	19,997
Eliminated on disposal	-	-	(15,430)	-	(15,430)
At 30 June 2026	48,269	3,428	29,223	2,546	83,466
Carrying amount
At 30 June 2026	276,396	2,242	43,155	-	321,793
At 30 June 2025	281,232	2,492	22,124	526	306,374

Included within the net book value of land and buildings above is £276,396 (2025 - £281,232) in respect of freehold land and buildings.
 

5

Stocks

	2026 £	2025 £
Other inventories	94,845	101,849

6

Debtors

	2026 £	2025 £
Trade debtors	66,549	116,618
Prepayments	954	2,167
	67,503	118,785

Southern Valve And Fitting Co. Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	8	13,069	12,401
Trade creditors		83,660	51,011
Taxation and social security		39,869	30,065
Accruals and deferred income		2,300	2,600
Director loan account		3	3
		138,901	96,080

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	49,902	62,971

8	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	49,902	62,971

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	13,069	12,401