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REGISTERED NUMBER: 05215734 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SOUTHERN FILTERS (DORSET) LTD

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHERN FILTERS (DORSET) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: D K Sherlock





SECRETARY: Mrs K Sherlock





REGISTERED OFFICE: 32 The Square
Gillingham
Dorset
SP8 4AR





REGISTERED NUMBER: 05215734 (England and Wales)





ACCOUNTANTS: Andrews and Palmer
Chartered Accountants
32 The Square
Gillingham
Dorset
SP8 4AR

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,627 17,252
Property, plant and equipment 5 469,995 393,653
478,622 410,905

CURRENT ASSETS
Inventories 276,816 212,330
Debtors 6 712,510 591,882
Cash at bank 102,746 136,801
1,092,072 941,013
CREDITORS
Amounts falling due within one year 7 708,927 503,976
NET CURRENT ASSETS 383,145 437,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

861,767

847,942

CREDITORS
Amounts falling due after more than one year 8 (108,111 ) (71,698 )

PROVISIONS FOR LIABILITIES (53,064 ) (50,119 )
NET ASSETS 700,592 726,125

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 700,492 726,025
SHAREHOLDERS' FUNDS 700,592 726,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

BALANCE SHEET - continued
30 NOVEMBER 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 director and authorised for issue on 22 August 2024 and were signed by:





D K Sherlock - Director


SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Southern Filters (Dorset) 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, in accordance with the property and at varying rates on cost

Stocks
Inventories 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.


SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bank loans
For the bank loans the amounts due within one year and more than year are being calculated using the amortised cost method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 202,502
AMORTISATION
At 1 December 2022 185,250
Charge for year 8,625
At 30 November 2023 193,875
NET BOOK VALUE
At 30 November 2023 8,627
At 30 November 2022 17,252

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 201,452 527,717 729,169
Additions - 134,431 134,431
At 30 November 2023 201,452 662,148 863,600
DEPRECIATION
At 1 December 2022 28,203 307,313 335,516
Charge for year 4,029 54,060 58,089
At 30 November 2023 32,232 361,373 393,605
NET BOOK VALUE
At 30 November 2023 169,220 300,775 469,995
At 30 November 2022 173,249 220,404 393,653

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 89,494
At 30 November 2023 89,494
DEPRECIATION
Charge for year 22,374
At 30 November 2023 22,374
NET BOOK VALUE
At 30 November 2023 67,120

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 692,135 582,087
Other debtors 20,375 9,795
712,510 591,882

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 8,469 8,864
Hire purchase contracts (see note 9) 10,467 -
Trade creditors 438,406 280,439
Taxation and social security 178,483 152,286
Other creditors 73,102 62,387
708,927 503,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 62,434 71,698
Hire purchase contracts (see note 9) 45,677 -
108,111 71,698

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 20,017 30,445

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 10,467 -
Between one and five years 45,677 -
56,144 -

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 50,390 66,850
Between one and five years 39,850 71,520
90,240 138,370

The lease for unit 22k is currently under review. The lease is on a rolling basis of £4,750.00 per quarter (£19,000.00 per annum)

SOUTHERN FILTERS (DORSET) LTD (REGISTERED NUMBER: 05215734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. SECURED DEBTS

Included in creditors within one year is 2023: £10,468 (2022: £Nil) relating to an asset under hire purchase. The hire purchase liability is secured on the asset to which it relates.

Also included in creditors within one year is 2023: £8,468 (2022: £8,864) relating to a business loan secured on the property Unit 22J and the director's private residence. Also the director has guaranteed the loan and agreed for the directors loan account to be used to clear the loan if necessary.

Included in creditors due in more than one year is 2023: £45,677 (2022: £Nil) relating to an asset under hire purchase. The hire purchase liability is secured on the asset to which it relates.

Also included in creditors due in more than one year is 2023: £62,435 (2022: £71,698) relating to a business loan which is secured on the property Unit 22J and the director's private residence. Also the director has guaranteed the loan and agreed for the directors loan account to be used to clear the loan if necessary.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary 100 100 100

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director £40,700 (2022: £32,924). This loan is repayable on demand and the director has not charged the company interest on this loan.

At the balance sheet date the company had a shareholder loan of £3,320 (2022: Nil) owed to the shareholder. This loan is repayable on demand and the shareholder has not charged the company interest on this loan.