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Company No: 10849574 (England and Wales)

SOUTH WEST DCR LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

SOUTH WEST DCR LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

SOUTH WEST DCR LIMITED

BALANCE SHEET

As at 31 July 2023
SOUTH WEST DCR LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Current assets
Debtors 4 15,687 11,272
Cash at bank and in hand 2,710 10,231
18,397 21,503
Creditors: amounts falling due within one year 5 ( 11,987) ( 12,061)
Net current assets 6,410 9,442
Total assets less current liabilities 6,410 9,442
Creditors: amounts falling due after more than one year 6 ( 14,653) ( 16,820)
Net liabilities ( 8,243) ( 7,378)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 8,245 ) ( 7,380 )
Total shareholders' deficit ( 8,243) ( 7,378)

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of South West DCR Limited (registered number: 10849574) were approved and authorised for issue by the Board of Directors on 06 March 2024. They were signed on its behalf by:

Mr G Hawkins
Director
SOUTH WEST DCR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
SOUTH WEST DCR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

South West DCR Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is International House, 142 Cromwell Road, London, SW7 4EF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £8,243. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2022 4,121 4,121
At 31 July 2023 4,121 4,121
Accumulated depreciation
At 01 August 2022 4,121 4,121
At 31 July 2023 4,121 4,121
Net book value
At 31 July 2023 0 0
At 31 July 2022 0 0

4. Debtors

2023 2022
£ £
Trade debtors 15,427 10,710
VAT recoverable 260 562
15,687 11,272

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 2,014 1,958
Amounts owed to directors 6,915 8,603
Accruals 3,058 1,500
11,987 12,061

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 14,653 16,820

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2