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REGISTERED NUMBER: 05442385 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SOUTH WESTERN AID LIMITED

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH WESTERN AID LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr C J Dodwell



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 05442385 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Natwest Plc
15 Victoria Street
Paignton
Devon
TQ4 5DE

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,750 13,500
Tangible assets 5 61,506 56,461
68,256 69,961

CURRENT ASSETS
Stocks 6 26,249 25,232
Debtors 7 115,645 72,931
Cash at bank 5,871 22,167
147,765 120,330
CREDITORS
Amounts falling due within one year 8 133,719 107,394
NET CURRENT ASSETS 14,046 12,936
TOTAL ASSETS LESS CURRENT LIABILITIES 82,302 82,897

CREDITORS
Amounts falling due after more than one
year

9

(66,600

)

(59,532

)

PROVISIONS FOR LIABILITIES (11,686 ) -
NET ASSETS 4,016 23,365

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 1,016 20,365
SHAREHOLDERS' FUNDS 4,016 23,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

BALANCE SHEET - continued
31 MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2024 and were signed by:





Mr C J Dodwell - Director


SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

South Western Aid Limited 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.

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
Turnover 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 2006, 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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.

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.

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 135,000
AMORTISATION
At 1 June 2023 121,500
Amortisation for year 6,750
At 31 May 2024 128,250
NET BOOK VALUE
At 31 May 2024 6,750
At 31 May 2023 13,500

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 19,615 577 113,275 4,354 137,821
Additions 742 - 32,390 - 33,132
Disposals - - (28,361 ) - (28,361 )
At 31 May 2024 20,357 577 117,304 4,354 142,592
DEPRECIATION
At 1 June 2023 17,272 118 62,344 1,626 81,360
Charge for year 617 69 19,003 1,089 20,778
Eliminated on disposal - - (21,052 ) - (21,052 )
At 31 May 2024 17,889 187 60,295 2,715 81,086
NET BOOK VALUE
At 31 May 2024 2,468 390 57,009 1,639 61,506
At 31 May 2023 2,343 459 50,931 2,728 56,461

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 97,550
Additions 32,390
Disposals (12,995 )
Transfer to ownership (18,265 )
At 31 May 2024 98,680
DEPRECIATION
At 1 June 2023 46,821
Charge for year 17,994
Eliminated on disposal (5,686 )
Transfer to ownership (14,431 )
At 31 May 2024 44,698
NET BOOK VALUE
At 31 May 2024 53,982
At 31 May 2023 50,729

6. STOCKS
2024 2023
£    £   
Stocks 26,249 25,232

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,485 62,703
VAT 6,386 4,327
Prepayments 774 5,901
115,645 72,931

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,423 10,008
Hire purchase contracts 14,995 11,666
Trade creditors 80,080 28,138
Tax 6,875 11,159
Social security and other taxes - 1,187
Other creditors 11,533 -
Directors' current accounts 12,900 39,997
Accrued expenses 3,913 5,239
133,719 107,394

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,295 20,703
Bank loans - 2-5 years 13,488 -
Hire purchase contracts 43,817 38,829
66,600 59,532

10. OTHER FINANCIAL COMMITMENTS

At 31 May 2024, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £5,781 (2023: £5,781).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr R I Dodwell
Balance outstanding at start of year (18,651 ) (19,003 )
Amounts advanced 28,429 35,974
Amounts repaid (9,778 ) (35,622 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (18,651 )

SOUTH WESTERN AID LIMITED (REGISTERED NUMBER: 05442385)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr C J Dodwell
Balance outstanding at start of year (21,346 ) (20,843 )
Amounts advanced 45,684 47,131
Amounts repaid (37,238 ) (47,634 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,900 ) (21,346 )

Loans are unsecured and repayable on demand. Interest is charged at 10% in the year on credit loan balances.

12. GOVERNMENT GUARANTEED LOAN

The bank loan of £26,206 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to May 2030.