33 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07231411 2023-04-01 2024-03-31 07231411 2024-03-31 07231411 2023-03-31 07231411 2022-04-01 2023-03-31 07231411 2023-03-31 07231411 2022-03-31 07231411 core:PlantMachinery 2023-04-01 2024-03-31 07231411 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07231411 core:MotorVehicles 2023-04-01 2024-03-31 07231411 bus:Director1 2023-04-01 2024-03-31 07231411 core:WithinOneYear 2024-03-31 07231411 core:WithinOneYear 2023-03-31 07231411 core:AfterOneYear 2024-03-31 07231411 core:AfterOneYear 2023-03-31 07231411 core:ShareCapital 2024-03-31 07231411 core:ShareCapital 2023-03-31 07231411 core:RetainedEarningsAccumulatedLosses 2024-03-31 07231411 core:RetainedEarningsAccumulatedLosses 2023-03-31 07231411 bus:SmallEntities 2023-04-01 2024-03-31 07231411 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07231411 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07231411 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07231411 bus:AbridgedAccounts 2023-04-01 2024-03-31
Company registration number: 07231411
F Southern Ltd
Unaudited filleted abridged financial statements
31 March 2024
F Southern Ltd
Contents
Abridged statement of financial position
Notes to the financial statements
F Southern Ltd
Abridged statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 144,742 88,569
_______ _______
144,742 88,569
Current assets
Debtors 267,788 303,359
Cash at bank and in hand 21,484 50,371
_______ _______
289,272 353,730
Creditors: amounts falling due
within one year ( 199,233) ( 245,980)
_______ _______
Net current assets 90,039 107,750
_______ _______
Total assets less current liabilities 234,781 196,319
Creditors: amounts falling due
after more than one year ( 77,733) ( 60,960)
_______ _______
Net assets 157,048 135,359
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 156,948 135,259
_______ _______
Shareholders funds 157,048 135,359
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Stephen Southern Paul Norvell
Director Director
Company registration number: 07231411
F Southern Ltd
Notes to the financial statements
Year ended 31 March 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 33 (2023: 29 ).
4. Tangible assets
£
Cost
At 1 April 2023 124,436
Additions 91,224
Disposals ( 3,568)
_______
At 31 March 2024 212,092
_______
Depreciation
At 1 April 2023 35,867
Charge for the year 34,575
Disposals ( 3,092)
_______
At 31 March 2024 67,350
_______
Carrying amount
At 31 March 2024 144,742
_______
At 31 March 2023 88,569
_______