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REGISTERED NUMBER: 08549557 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SOUTH SOUTHWEST LIMITED

SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH SOUTHWEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr PGL Luithlen
Ms CR Tribe





REGISTERED OFFICE: 95 Queens Road
Leicester
Leicestershire
LE2 1TT





REGISTERED NUMBER: 08549557 (England and Wales)

SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,201 18,146

CURRENT ASSETS
Stocks 4,250 3,750
Debtors 5 15,689 12,661
Cash at bank and in hand 110,295 111,021
130,234 127,432
CREDITORS
Amounts falling due within one year 6 93,809 82,377
NET CURRENT ASSETS 36,425 45,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,626

63,201

CREDITORS
Amounts falling due after more than one
year

7

(32,208

)

(37,844

)

PROVISIONS FOR LIABILITIES (2,888 ) (3,448 )
NET ASSETS 16,530 21,909

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 16,430 21,809
SHAREHOLDERS' FUNDS 16,530 21,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

BALANCE SHEET - continued
31 MAY 2023


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 Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





Mr PGL Luithlen - Director


SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

South Southwest 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of services.

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 - 25% on reducing balance
Fixtures and fittings - 15% 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.

SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Government grants
From late March 2020 the COVID-19 pandemic had a significant impact on our business operations. With businesses across the country also struggling we experienced a significant fall in sales in 2020. To mitigate our costs we have taken advantage of the Government's Job Retention Scheme and The Bounce Back Loan Scheme.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 3,750 33,529 37,279
DEPRECIATION
At 1 June 2022 1,641 17,492 19,133
Charge for year 527 2,418 2,945
At 31 May 2023 2,168 19,910 22,078
NET BOOK VALUE
At 31 May 2023 1,582 13,619 15,201
At 31 May 2022 2,109 16,037 18,146

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,655
Other debtors 15,689 11,006
15,689 12,661

SOUTH SOUTHWEST LIMITED (REGISTERED NUMBER: 08549557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,600 6,600
Trade creditors 12,850 9,817
Taxation and social security 65,210 58,143
Other creditors 9,149 7,817
93,809 82,377

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 32,208 37,844

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £300,000 (2022 - £300,000).