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REGISTERED NUMBER: 12372811 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SOUTH DOWNS SERVICES LTD

SOUTH DOWNS SERVICES LTD (REGISTERED NUMBER: 12372811)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOUTH DOWNS SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Ms S Lyall





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 12372811 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

SOUTH DOWNS SERVICES LTD (REGISTERED NUMBER: 12372811)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 -
Property, plant and equipment 5 1,628 1,915
16,628 1,915

CURRENT ASSETS
Inventories 17,650 -
Debtors 6 10,195 -
Cash at bank 22,479 13,713
50,324 13,713
CREDITORS
Amounts falling due within one year 7 49,281 6,738
NET CURRENT ASSETS 1,043 6,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,671

8,890

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,571 8,790
17,671 8,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 24 October 2024 and were signed by:





Ms S Lyall - Director


SOUTH DOWNS SERVICES LTD (REGISTERED NUMBER: 12372811)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

South Downs Services 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

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

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant & machinery - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Inventory
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SOUTH DOWNS SERVICES LTD (REGISTERED NUMBER: 12372811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 15,000
At 31 December 2023 15,000
NET BOOK VALUE
At 31 December 2023 15,000

SOUTH DOWNS SERVICES LTD (REGISTERED NUMBER: 12372811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant & Fixtures
machinery and
b/f fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 2,151 500 2,651
DEPRECIATION
At 1 January 2023 597 139 736
Charge for year 233 54 287
At 31 December 2023 830 193 1,023
NET BOOK VALUE
At 31 December 2023 1,321 307 1,628
At 31 December 2022 1,554 361 1,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,969 -
Other debtors 5,226 -
10,195 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,940 40
Taxation and social security 4,272 3,478
Other creditors 35,069 3,220
49,281 6,738

8. RELATED PARTY DISCLOSURES

Included in other creditors less than one year, is an amount of £33,000 due to a connected company under common directorship. The loan is interest free and repayable on demand.

Included in other creditors less than one year is an amount of £802 (2022: £2,740) due to the director of the company. The loan is interest free and repayable on demand.