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Company Registration No. 02842182 (England and Wales)
Southern Pneumatics Limited Unaudited accounts for the year ended 31 January 2024
Southern Pneumatics Limited Unaudited accounts Contents
Page
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Southern Pneumatics Limited Company Information for the year ended 31 January 2024
Directors
Peter Gaskin Julie Gaskin
Company Number
02842182 (England and Wales)
Registered Office
3a Rydings Windsor Berkshire SL4 4HF
Accountants
Daniel Grant 69a Wickham Avenue Bexhill-on-Sea East Sussex TN39 3ES
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Southern Pneumatics Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
41,540 
37,027 
Investments
43,054 
22,774 
84,594 
59,801 
Current assets
Inventories
75,769 
75,769 
Debtors
715,421 
657,493 
Cash at bank and in hand
2,879 
11,832 
794,069 
745,094 
Creditors: amounts falling due within one year
(196,170)
(118,155)
Net current assets
597,899 
626,939 
Total assets less current liabilities
682,493 
686,740 
Creditors: amounts falling due after more than one year
(33,942)
(40,807)
Net assets
648,551 
645,933 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
648,451 
645,833 
Shareholders' funds
648,551 
645,933 
For the year ending 31 January 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 29 October 2024 and were signed on its behalf by
Peter Gaskin Director Company Registration No. 02842182
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Southern Pneumatics Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Southern Pneumatics Limited is a private company, limited by shares, registered in England and Wales, registration number 02842182. The registered office is 3a Rydings, Windsor, Berkshire, SL4 4HF.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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
33.3% S.L
Motor vehicles
33.3% R.B
Fixtures & fittings
20%
Computer equipment
33.3%
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2023
42,790 
163,817 
19,415 
28,083 
254,105 
Additions
22,583 
- 
- 
- 
22,583 
At 31 January 2024
65,373 
163,817 
19,415 
28,083 
276,688 
Depreciation
At 1 February 2023
19,094 
150,486 
19,415 
28,083 
217,078 
Charge for the year
4,739 
13,331 
- 
- 
18,070 
At 31 January 2024
23,833 
163,817 
19,415 
28,083 
235,148 
Net book value
At 31 January 2024
41,540 
- 
- 
- 
41,540 
At 31 January 2023
23,696 
13,331 
- 
- 
37,027 
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Southern Pneumatics Limited Notes to the Accounts for the year ended 31 January 2024
5
Investments
Other investments 
£ 
Valuation at 1 February 2023
22,774 
Fair value adjustments
20,280 
Valuation at 31 January 2024
43,054 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
124,490 
73,828 
Amounts due from group undertakings etc.
586,965 
579,699 
711,455 
653,527 
Amounts falling due after more than one year
Other debtors
3,966 
3,966 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
39,585 
39,798 
VAT
37,814 
25,641 
Trade creditors
109,240 
30,238 
Taxes and social security
3,806 
11,686 
Loans from directors
- 
5,067 
Accruals
5,725 
5,725 
196,170 
118,155 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
33,942 
40,807 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
Southern Pneumatics Limited have made financial loans to P.J. Restaurants Ltd (of which Peter Gaskin and Julie Gaskin are directors) for an overall amount of £507985 (2020) £242,000 has been written off in the years (2015 - 2019). The large amount of funding at present is unlikely to be repaid but if and when that changes the repayment will be made and bad debt reversed
11
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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