SLV Intl. Limited
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Notes to the Accounts |
for the year ended 31 December 2016
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Computer and office equipment |
straight line over 3 years |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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2 |
Employees |
2016 |
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2015 |
Number |
Number |
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Average number of persons employed by the company |
13 |
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7 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 January 2016 |
300,000 |
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At 31 December 2016 |
300,000 |
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Amortisation |
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At 1 January 2016 |
180,000 |
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Provided during the year |
60,000 |
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At 31 December 2016 |
240,000 |
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Net book value |
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At 31 December 2016 |
60,000 |
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At 31 December 2015 |
120,000 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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4 |
Tangible fixed assets |
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Computer & office equipment |
£ |
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Cost |
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At 1 January 2016 |
10,677 |
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Additions |
2,781 |
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At 31 December 2016 |
13,458 |
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Depreciation |
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At 1 January 2016 |
7,833 |
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Charge for the year |
2,859 |
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At 31 December 2016 |
10,692 |
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Net book value |
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At 31 December 2016 |
2,766 |
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At 31 December 2015 |
2,844 |
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5 |
Debtors |
2016 |
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2015 |
£ |
£ |
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Trade debtors |
- |
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136,652 |
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Other debtors |
25,429 |
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2,100 |
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25,429 |
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138,752 |
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6 |
Creditors: amounts falling due within one year |
2016 |
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2015 |
£ |
£ |
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Trade creditors |
22,380 |
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2,869 |
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Corporation tax |
64,339 |
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121,348 |
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Other taxes and social security costs |
5,663 |
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- |
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Deferred income |
- |
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40,947 |
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Other creditors |
134,120 |
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180,839 |
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226,502 |
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346,003 |
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7 |
Controlling party |
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The ultimate controlling party is the director Lucy Nightingale who is the sole shareholder.
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8 |
Other information |
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SLV Intl. Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Second Floor |
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122 Minories |
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London |
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EC3N 1NT |