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REGISTERED NUMBER: 03254202 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

South Staffs Commercials Limited

South Staffs Commercials Limited (Registered number: 03254202)






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

Chartered Accountants' Report 7

South Staffs Commercials Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: N C Whorton





SECRETARY: Mrs I W Whorton





REGISTERED OFFICE: South Staffs Freight Terminal
Lynn Lane
Shenstone
Lichfield
Staffordshire
WS14 0ED





REGISTERED NUMBER: 03254202 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

South Staffs Commercials Limited (Registered number: 03254202)

Balance Sheet
31 March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,955,594 1,077,466

CURRENT ASSETS
Debtors 5 63,793 66,350
Cash at bank 47,966 25,441
111,759 91,791
CREDITORS
Amounts falling due within one year 6 (1,764,965 ) (1,004,331 )
NET CURRENT LIABILITIES (1,653,206 ) (912,540 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,388

164,926

CREDITORS
Amounts falling due after more than one
year

7

(119,037

)

(137,187

)
NET ASSETS 183,351 27,739

CAPITAL AND RESERVES
Called up share capital 9 100 2
Retained earnings 10 183,251 27,737
SHAREHOLDERS' FUNDS 183,351 27,739

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 director acknowledges his 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.

South Staffs Commercials Limited (Registered number: 03254202)

Balance Sheet - continued
31 March 2022


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 has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2022 and were signed by:





N C Whorton - Director


South Staffs Commercials Limited (Registered number: 03254202)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

South Staffs Commercials 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents rental income receivable from Property investments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

South Staffs Commercials Limited (Registered number: 03254202)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 689,651 397,907 1,087,558
Additions 880,722 - 880,722
At 31 March 2022 1,570,373 397,907 1,968,280
DEPRECIATION
At 1 April 2021 - 10,092 10,092
Charge for year - 2,594 2,594
At 31 March 2022 - 12,686 12,686
NET BOOK VALUE
At 31 March 2022 1,570,373 385,221 1,955,594
At 31 March 2021 689,651 387,815 1,077,466

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 63,793 48,901
Other debtors - 17,449
63,793 66,350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 52,124 47,624
Trade creditors 4,363 140,589
Amounts owed to group undertakings 238,860 -
Amounts owed to participating interests 844,076 407,024
Taxation and social security 48,747 6,000
Other creditors 576,795 403,094
1,764,965 1,004,331

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 88,962 137,187
Other creditors 30,075 -
119,037 137,187

South Staffs Commercials Limited (Registered number: 03254202)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

8. SECURED DEBTS

N C Whorton, B R Whorton, I W Whorton, and S F Whorton-Eales hold a charge over 33 Market Square, Rugeley, Staffordshire.

N C Whorton, B R Whorton, I W Whorton, and S F Whorton-Eales hold a charge over Land and Buildings at the south west side of Redbrook Lane, Rugeley, Staffordshire.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 2

10. RESERVES
Retained
earnings
£   

At 1 April 2021 27,737
Profit for the year 157,514
Dividends (2,000 )
At 31 March 2022 183,251

11. RELATED PARTY DISCLOSURES

At 31 March 2022, South Staffs Commercial Limited owed the Director N C Whorton £177,305 (2021 - £176,976).

At 31 March 2022, South Staffs Commercial Limited owes £238,860 (2021 - £nil) to its parent company South Staffs Investments Limited.

At 31 March 2022, South Staffs Commercial Limited owes £347,024 (2021 - £407,024) to South Staffs Freight Terminal Limited, a company where the director N C Whorton is a Director and shareholder of its parent company B R Whorton Transport Limited.

At 31 March 2022, South Staffs Commercial Limited owes £198,626 (2021 - £nil) to B R Whorton Transport Limited, a company the Director N C Whorton is a director and shareholder.

At 31 March 2022, South Staffs Commercial Limited owes £298,426 (2021 - £nil) to Staffs Freight Services Limited, a company the Director N C Whorton is a director.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
South Staffs Commercials Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Staffs Commercials Limited for the year ended 31 March 2022 which comprise the Profit and loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of South Staffs Commercials Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of South Staffs Commercials Limited and state those matters that we have agreed to state to the director of South Staffs Commercials Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Staffs Commercials Limited and its director for our work or for this report.

It is your duty to ensure that South Staffs Commercials Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South Staffs Commercials Limited. You consider that South Staffs Commercials Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of South Staffs Commercials Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


8 September 2022