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REGISTERED NUMBER: 10056689 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022

FOR

SOUTHERN COUNTIES RESTORATION LIMITED

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHERN COUNTIES RESTORATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mr P R J de la Nougerede
Mrs P de la Nougerede
Mr J de la Nougerede





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: 10056689 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 500
Tangible assets 6 22,894 25,560
22,894 26,060

CURRENT ASSETS
Stocks 7 17,920 16,075
Debtors 8 25,150 33,625
Cash at bank and in hand 17,914 7,068
60,984 56,768
CREDITORS
Amounts falling due within one year 9 39,137 28,413
NET CURRENT ASSETS 21,847 28,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,741

54,415

CREDITORS
Amounts falling due after more than one
year

10

(41,338

)

(50,380

)

PROVISIONS FOR LIABILITIES 12 (2,429 ) (3,382 )
NET ASSETS 974 653

CAPITAL AND RESERVES
Called up share capital 13 400 400
Retained earnings 574 253
SHAREHOLDERS' FUNDS 974 653

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

BALANCE SHEET - continued
31 MARCH 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2022 and were signed on its behalf by:





Mr P R J de la Nougerede - Director


SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Southern Counties Restoration 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of an asset as follows:

Goodwill - 3 years straight line

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 1,500
AMORTISATION
At 1 April 2021 1,000
Charge for year 500
At 31 March 2022 1,500
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 500

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Equipment Totals
£    £    £    £   
COST
At 1 April 2021 11,733 41,484 2,691 55,908
Additions 3,749 - - 3,749
At 31 March 2022 15,482 41,484 2,691 59,657
DEPRECIATION
At 1 April 2021 6,364 22,334 1,650 30,348
Charge for year 1,368 4,787 260 6,415
At 31 March 2022 7,732 27,121 1,910 36,763
NET BOOK VALUE
At 31 March 2022 7,750 14,363 781 22,894
At 31 March 2021 5,369 19,150 1,041 25,560

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021 41,484
Transfer to ownership (17,004 )
At 31 March 2022 24,480
DEPRECIATION
At 1 April 2021 22,334
Charge for year 3,442
Transfer to ownership (11,624 )
At 31 March 2022 14,152
NET BOOK VALUE
At 31 March 2022 10,328
At 31 March 2021 19,150

7. STOCKS
31.3.22 31.3.21
£    £   
Stocks 17,920 16,075

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 18,677 13,153
Other debtors 4,908 -
Directors' current accounts - 20,074
Prepayments and accrued income 1,565 398
25,150 33,625

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 9,730 8,720
Hire purchase contracts (see note 11) 5,200 8,288
Corporation tax 8,624 1,373
PAYE and social security - 2,000
VAT 12,923 4,493
Other creditors - 1,104
Directors' current accounts 702 570
Accruals and deferred income 1,958 1,865
39,137 28,413

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 1-2 years 9,974 9,730
Bank loans - 2-5 years 27,464 30,675
Bank loans over 5 years - 875
Hire purchase contracts (see note 11) 3,900 9,100
41,338 50,380

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years - 875

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.22 31.3.21
£    £   
Net obligations repayable:
Within one year 5,200 8,288
Between one and five years 3,900 9,100
9,100 17,388

SOUTHERN COUNTIES RESTORATION LIMITED (REGISTERED NUMBER: 10056689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.22 31.3.21
£    £   
Within one year 15,900 -
Between one and five years 21,200 -
37,100 -

12. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax
Accelerated capital allowances 2,429 3,382

Deferred
tax
£   
Balance at 1 April 2021 3,382
Provided during year (953 )
Balance at 31 March 2022 2,429

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
100 Ordinary A shares £1 100 100
100 Ordinary B shares £1 100 100
100 Ordinary C shares £1 100 100
100 Ordinary D shares £1 100 100
400 400