Company Registration No. 12665771 (England and Wales)
South Coast Traffic Management Ltd
Unaudited accounts
for the year ended 31 March 2024
South Coast Traffic Management Ltd
Unaudited accounts
Contents
South Coast Traffic Management Ltd
Company Information
for the year ended 31 March 2024
Directors
Joseph Peter Jupp
Craig Derek James Purdy
Company Number
12665771 (England and Wales)
Registered Office
Unit 6 Bedrock Park
Vulcan Way
Ferndown
BH21 7BU
United Kingdom
Accountants
SH Accounting Solutions Ltd
Office 1, 319a Holdenhurst Road
Bournemouth
BH8 8BT
South Coast Traffic Management Ltd
Accountants' report
Accountants' report to the board of directors of South Coast Traffic Management Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
SH Accounting Solutions Ltd
Office 1, 319a Holdenhurst Road
Bournemouth
BH8 8BT
24 June 2024
South Coast Traffic Management Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
1,803,310
852,503
Cash at bank and in hand
142,474
72,622
Creditors: amounts falling due within one year
(604,983)
(242,389)
Net current (liabilities)/assets
(62,924)
262,185
Total assets less current liabilities
1,740,386
1,114,688
Creditors: amounts falling due after more than one year
(1,101,306)
(693,815)
Net assets
639,080
420,873
Called up share capital
2
2
Profit and loss account
639,078
420,871
Shareholders' funds
639,080
420,873
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
Joseph Peter Jupp
Director
Company Registration No. 12665771
South Coast Traffic Management Ltd
Notes to the Accounts
for the year ended 31 March 2024
South Coast Traffic Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 12665771. The registered office is Unit 6 Bedrock Park, Vulcan Way, Ferndown, BH21 7BU, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance Method
Motor vehicles
25% Reducing Balance Method
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
South Coast Traffic Management Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
359,394
605,530
964,924
Additions
260,000
1,055,638
1,315,638
Disposals
-
(110,047)
(110,047)
At 31 March 2024
619,394
1,551,121
2,170,515
At 1 April 2023
16,952
95,469
112,421
Charge for the year
82,071
220,536
302,607
On disposals
-
(47,823)
(47,823)
At 31 March 2024
99,023
268,182
367,205
At 31 March 2024
520,371
1,282,939
1,803,310
At 31 March 2023
342,442
510,061
852,503
Amounts falling due within one year
Trade debtors
398,947
431,314
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
478,407
151,675
Taxes and social security
77,716
75,482
Other creditors
48,655
15,040
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
1,101,306
693,815
8
Transactions with related parties
Directors
During the year, the company made the following third party transactions:
During the year, the directors received loans of £79,000 and repaid £74,025. At the balance sheet date, the amount owed to the directors was £8,647 (2023 - £13,622).
South Coast Traffic Management Ltd
Notes to the Accounts
for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 24 (2023: 16).