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REGISTERED NUMBER: 09804468 (England and Wales)

















Southcoast Powerhouse Ltd

Financial Statements

for the Year Ended 31 October 2023






Southcoast Powerhouse Ltd (Registered number: 09804468)

Contents of the Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Southcoast Powerhouse Ltd

Company Information
for the year ended 31 October 2023







DIRECTORS: M J Rice
Mrs J W Rice





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 09804468 (England and Wales)





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

Southcoast Powerhouse Ltd (Registered number: 09804468)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,633 65,792

CURRENT ASSETS
Stocks 2,460 2,180
Debtors 5 17,441 12,881
Cash at bank and in hand 31,109 50,732
51,010 65,793
CREDITORS
Amounts falling due within one year 6 109,423 96,605
NET CURRENT LIABILITIES (58,413 ) (30,812 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,220

34,980

CREDITORS
Amounts falling due after more than one
year

7

(29,933

)

(46,484

)

PROVISIONS FOR LIABILITIES - (882 )
NET LIABILITIES (22,713 ) (12,386 )

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings (22,813 ) (12,387 )
SHAREHOLDERS' FUNDS (22,713 ) (12,386 )

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

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

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 17 July 2024 and were signed on its behalf by:





M J Rice - Director


Southcoast Powerhouse Ltd (Registered number: 09804468)

Notes to the Financial Statements
for the year ended 31 October 2023


1. STATUTORY INFORMATION

Southcoast Powerhouse Ltd 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.

Turnover comprises income from entry charges, training fees and takings from the sale of retail products during the accounting period. The company is not registered for VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 15% 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Southcoast Powerhouse Ltd (Registered number: 09804468)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 November 2022 78,888 33,148 112,036
Additions 18,917 - 18,917
Disposals (5,848 ) (4,044 ) (9,892 )
At 31 October 2023 91,957 29,104 121,061
DEPRECIATION
At 1 November 2022 31,562 14,682 46,244
Charge for year 6,922 2,262 9,184
At 31 October 2023 38,484 16,944 55,428
NET BOOK VALUE
At 31 October 2023 53,473 12,160 65,633
At 31 October 2022 47,326 18,466 65,792

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 33,148
Disposals (4,044 )
At 31 October 2023 29,104
DEPRECIATION
At 1 November 2022 14,682
Charge for year 2,262
At 31 October 2023 16,944
NET BOOK VALUE
At 31 October 2023 12,160
At 31 October 2022 18,466

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,953 4,034
Other debtors 10,488 8,847
17,441 12,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,077 9,829
Finance leases 2,911 3,737
Trade creditors 5,996 4,131
Taxation and social security 2,582 44
Other creditors 87,857 78,864
109,423 96,605

Southcoast Powerhouse Ltd (Registered number: 09804468)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,365 27,442
Finance leases 12,568 19,042
29,933 46,484

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 15,479 22,779

Finance lease liabilities are secured on the assets concerned.

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments totalling £40,808.