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REGISTERED NUMBER: 09290090 (England and Wales)

















South Coast Auto Solutions Limited

Financial Statements

for the Year Ended 28 February 2023






South Coast Auto Solutions Limited (Registered number: 09290090)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


South Coast Auto Solutions Limited

Company Information
for the year ended 28 February 2023







DIRECTOR: S Reed





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 09290090 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

South Coast Auto Solutions Limited (Registered number: 09290090)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 3,000
Tangible assets 5 29,988 27,134
31,988 30,134

CURRENT ASSETS
Stocks 17,549 10,749
Debtors 6 36,171 17,417
Cash at bank and in hand 49,348 23,852
103,068 52,018
CREDITORS
Amounts falling due within one year 7 77,058 58,339
NET CURRENT ASSETS/(LIABILITIES) 26,010 (6,321 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,998

23,813

CREDITORS
Amounts falling due after more than one
year

8

(23,121

)

(32,975

)

PROVISIONS FOR LIABILITIES (5,698 ) (5,155 )
NET ASSETS/(LIABILITIES) 29,179 (14,317 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,079 (14,417 )
SHAREHOLDERS' FUNDS 29,179 (14,317 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 August 2023 and were signed by:





S Reed - Director


South Coast Auto Solutions Limited (Registered number: 09290090)

Notes to the Financial Statements
for the year ended 28 February 2023


1. STATUTORY INFORMATION

South Coast Auto Solutions 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

South Coast Auto Solutions Limited (Registered number: 09290090)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022 7,000
Amortisation for year 1,000
At 28 February 2023 8,000
NET BOOK VALUE
At 28 February 2023 2,000
At 28 February 2022 3,000

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 67,060 16,850 83,910
Additions - 10,000 10,000
At 28 February 2023 67,060 26,850 93,910
DEPRECIATION
At 1 March 2022 49,327 7,449 56,776
Charge for year 3,546 3,600 7,146
At 28 February 2023 52,873 11,049 63,922
NET BOOK VALUE
At 28 February 2023 14,187 15,801 29,988
At 28 February 2022 17,733 9,401 27,134

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,940 14,233
Other debtors 3,231 3,184
36,171 17,417

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 34,549 33,170
Taxation and social security 29,010 6,834
Other creditors 3,499 8,335
77,058 58,339

South Coast Auto Solutions Limited (Registered number: 09290090)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,121 32,975

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments totalling £67,256.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
S Reed
Balance outstanding at start of year 570 -
Amounts advanced - 570
Amounts repaid (570 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 570