Company Registration No. 8124602 (England and Wales)
South Coast Property Installations Limited
Unaudited accounts
for the year ended 30 June 2023
South Coast Property Installations Limited
Unaudited accounts
Contents
South Coast Property Installations Limited
Company Information
for the year ended 30 June 2023
Company Number
8124602 (England and Wales)
Registered Office
Unit C
1 Willis Way
Poole
Dorset
BH15 3SS
Accountants
JSVM Limited
Certified Public Accountants
23a Dawkins Road
Poole
Dorset
BH15 4JY
South Coast Property Installations Limited
Statement of financial position
as at 30 June 2023
Intangible assets
149,000
216,500
Tangible assets
14,239
12,337
Cash at bank and in hand
35,088
98,878
Creditors: amounts falling due within one year
(467,525)
(394,504)
Net current liabilities
(115,444)
(162,101)
Total assets less current liabilities
47,795
66,736
Creditors: amounts falling due after more than one year
(19,378)
(37,445)
Provisions for liabilities
Deferred tax
(2,848)
(2,344)
Called up share capital
200
200
Profit and loss account
25,369
26,747
Shareholders' funds
25,569
26,947
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 March 2024 and were signed on its behalf by
Keith Middleton
Director
Company Registration No. 8124602
South Coast Property Installations Limited
Notes to the Accounts
for the year ended 30 June 2023
South Coast Property Installations Limited is a private company, limited by shares, registered in England and Wales, registration number 8124602. The registered office is Unit C, 1 Willis Way, Poole, Dorset, BH15 3SS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 June 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 Years Straight Line
Motor vehicles
25% Annual Reducing Balance
Fixtures & fittings
3 Years Straight Line
Computer equipment
3 Years Straight Line
Intangible fixed assets are included at cost less accumulated amortisation and accumulated impairment losses.
Impairment of intangible fixed assets is reviewed annually and provided for within the financial statements where circumstances indicate that the carrying value of an asset is likely to not be fully recoverable.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads.
South Coast Property Installations Limited
Notes to the Accounts
for the year ended 30 June 2023
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2022
15,441
5,990
9,715
12,610
43,756
Additions
1,883
-
-
5,545
7,428
At 30 June 2023
17,324
5,990
9,715
18,155
51,184
At 1 July 2022
9,256
4,490
9,511
8,162
31,419
Charge for the year
2,342
375
115
2,694
5,526
At 30 June 2023
11,598
4,865
9,626
10,856
36,945
At 30 June 2023
5,726
1,125
89
7,299
14,239
At 30 June 2022
6,185
1,500
204
4,448
12,337
Amounts falling due within one year
Trade debtors
197,378
107,994
Accrued income and prepayments
15,477
13,645
Other debtors
18,712
10,216
South Coast Property Installations Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
55,649
40,279
Obligations under finance leases and hire purchase contracts
-
401
Trade creditors
256,751
177,859
Taxes and social security
60,071
46,832
Deferred income
84,147
81,982
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 7 (2022: 6).