Southam Services (Lincs) Limited 11104428 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is civil engineering Digita Accounts Production Advanced 6.30.9574.0 true false true 11104428 2023-04-01 2024-03-31 11104428 2024-03-31 11104428 bus:Director1 1 2024-03-31 11104428 core:CurrentFinancialInstruments 2024-03-31 11104428 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11104428 core:AdditionsToInvestments 2024-03-31 11104428 core:FurnitureFittingsToolsEquipment 2024-03-31 11104428 core:MotorVehicles 2024-03-31 11104428 bus:SmallEntities 2023-04-01 2024-03-31 11104428 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11104428 bus:FullAccounts 2023-04-01 2024-03-31 11104428 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11104428 bus:RegisteredOffice 2023-04-01 2024-03-31 11104428 bus:Director1 2023-04-01 2024-03-31 11104428 bus:Director1 1 2023-04-01 2024-03-31 11104428 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11104428 core:FurnitureFittings 2023-04-01 2024-03-31 11104428 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11104428 core:MotorVehicles 2023-04-01 2024-03-31 11104428 core:PlantMachinery 2023-04-01 2024-03-31 11104428 countries:UnitedKingdom 2023-04-01 2024-03-31 11104428 2023-03-31 11104428 bus:Director1 1 2023-03-31 11104428 core:FurnitureFittingsToolsEquipment 2023-03-31 11104428 core:MotorVehicles 2023-03-31 11104428 2022-04-01 2023-03-31 11104428 2023-03-31 11104428 bus:Director1 1 2023-03-31 11104428 core:CurrentFinancialInstruments 2023-03-31 11104428 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11104428 core:FurnitureFittingsToolsEquipment 2023-03-31 11104428 core:MotorVehicles 2023-03-31 11104428 bus:Director1 1 2022-04-01 2023-03-31 11104428 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11104428

Southam Services (Lincs) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Southam Services (Lincs) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Southam Services (Lincs) Limited

(Registration number: 11104428)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

164,756

162,204

Investments

5

2,144

-

 

166,900

162,204

Current assets

 

Debtors

6

303,472

341,508

Cash at bank and in hand

 

306,210

267,857

 

609,682

609,365

Creditors: Amounts falling due within one year

7

(323,799)

(367,984)

Net current assets

 

285,883

241,381

Total assets less current liabilities

 

452,783

403,585

Provisions for liabilities

(41,190)

(40,552)

Net assets

 

411,593

363,033

Capital and reserves

 

Called up share capital

100

100

Retained earnings

411,493

362,933

Shareholders' funds

 

411,593

363,033

For the financial 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.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 July 2024
 

.........................................
G P Simons
Director

 

Southam Services (Lincs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
Southam Barns
Brocklesby Road
Ulceby
DN39 6SU

These financial statements were authorised for issue by the director on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared for the individual entity and are presented in sterling and rounded to the nearest pound.

Going concern

Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents revenue due from the normal activities of the business to the extent that the company obtains a right to consideration in exchange for its performance of those activities, exclusive of value added tax.

Revenue recognised is measured by reference to the amounts likely to be chargeable to customers. The excess of turnover not invoiced over payments on account is reported as amounts recoverable on contracts within debtors.

Contract revenue recognition

In the case of long term contracts, where the outcome of individual contracts can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting date. The stage of completion is measured by reference to the proportion of work done relative to the total value of work under the contract. provision is made for all known or expected losses on individual contracts in the year in which such losses are foreseen.

 

Southam Services (Lincs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% and 33% Straight line

Plant and machinery

15% Straight line

Motor vehicles

25% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2023 - 4).

 

Southam Services (Lincs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

233,742

66,311

300,053

Additions

6,800

40,000

46,800

At 31 March 2024

240,542

106,311

346,853

Depreciation

At 1 April 2023

107,306

30,543

137,849

Charge for the year

35,567

8,681

44,248

At 31 March 2024

142,873

39,224

182,097

Carrying amount

At 31 March 2024

97,669

67,087

164,756

At 31 March 2023

126,436

35,768

162,204

5

Investments

2024
£

2023
£

Other investments

2,144

-

Fixed asset investments

£

Cost or valuation

Additions

2,144

Provision

Carrying amount

At 31 March 2024

2,144

 

Southam Services (Lincs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

260,970

306,485

Prepayments

8,730

1,977

Other debtors

33,772

33,046

 

303,472

341,508

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,491

-

Trade creditors

 

92,572

210,511

Taxation and social security

 

34,524

33,963

Accruals and deferred income

 

195,212

123,509

Other creditors

 

-

1

 

323,799

367,984

8

Related party transactions

Transactions with the Director

2024

At 1 April 2023
£

Advances to Director
£

Repayments by Director
£

At 31 March 2024
£

G P Simons

Interest free loan provided to the director

15,694

2,281

(17,975)

-

         
       

 

2023

At 1 April 2022
£

Advances to Director
£

At 31 March 2023
£

G P Simons

Interest free loan provided to the director

-

15,694

15,694

       
     

 

Director's remuneration

The Director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,555

9,558

Dividends paid to directors total 2024: £35,500 (2023: £36,555).