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REGISTERED NUMBER: 04953160 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: P J Knee
M W Gale
H W Gale





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04953160 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,837 57,028

CURRENT ASSETS
Stocks 5 317,660 763,160
Debtors 6 200,941 174,803
Cash at bank and in hand 130,791 340,557
649,392 1,278,520
CREDITORS
Amounts falling due within one year 7 440,135 1,060,620
NET CURRENT ASSETS 209,257 217,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

217,094

274,928

CREDITORS
Amounts falling due after more than one
year

8

(12,500

)

(54,715

)

PROVISIONS FOR LIABILITIES (1,450 ) (10,785 )
NET ASSETS 203,144 209,428

CAPITAL AND RESERVES
Called up share capital 9 166,666 166,666
Retained earnings 36,478 42,762
SHAREHOLDERS' FUNDS 203,144 209,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

BALANCE SHEET - continued
29TH FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





M W Gale - Director


SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Southdown Construction (Metalwork) 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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents the value of work done during the year,excluding value added tax.

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 etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.


SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

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.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 35 ) .

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st March 2023 219 149,184 149,403
Disposals - (62,081 ) (62,081 )
At 29th February 2024 219 87,103 87,322
DEPRECIATION
At 1st March 2023 55 92,320 92,375
Charge for year 55 14,215 14,270
Eliminated on disposal - (27,160 ) (27,160 )
At 29th February 2024 110 79,375 79,485
NET BOOK VALUE
At 29th February 2024 109 7,728 7,837
At 28th February 2023 164 56,864 57,028

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st March 2023 81,225
Disposals (62,081 )
Transfer to ownership (19,144 )
At 29th February 2024 -
DEPRECIATION
At 1st March 2023 26,588
Charge for year 13,659
Eliminated on disposal (27,160 )
Transfer to ownership (13,087 )
At 29th February 2024 -
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 54,637

5. STOCKS
2024 2023
£    £   
Stocks 9,000 9,000
Work-in-progress 308,660 754,160
317,660 763,160

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,952 5,544
Other debtors 161,989 169,259
200,941 174,803

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 13,375
Trade creditors 92,466 320,682
Taxation and social security 57,652 61,271
Other creditors 280,017 655,292
440,135 1,060,620

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Hire purchase contracts - 32,215
12,500 54,715

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
166,666 Ordinary £1 166,666 166,666

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
M W Gale
Balance outstanding at start of year 10,281 -
Amounts advanced - 10,281
Amounts repaid (10,281 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,281

SOUTHDOWN CONSTRUCTION (METALWORK)
LIMITED (REGISTERED NUMBER: 04953160)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

H W Gale
Balance outstanding at start of year 10,000 -
Amounts advanced - 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

P J Knee
Balance outstanding at start of year - -
Amounts advanced 10,800 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,800 -

During the year the company paid dividends of £84,000 (2023: £120,000) to the directors and their family members.

11. RELATED PARTY DISCLOSURES

Blastreat (Arundel) Limited;
Blastreat (Arundel) Limited is a connected company as it has directors and shareholders in common with Southdown Construction (Metalwork) Limited.

During the year the company made purchases of £27,327 (2023: £93,307) from Blastreat (Arundel) Limited, a connected company and paid rent of £25,000 (2023: £25,000). The company owed Blastreat (Arundel) Limited £28,372 (2023: £63,550) as at 29th February 2024.

Avantec Limited
Avantec Limited is a connected company as it has directors and shareholders in common with Avantec Limited.

During the year the company made purchases from Avantec Limited of £nil (2023: £nil) and paid rent of £45,000 (2023: £45,000). At the year end the company was owed by Avantec Limited £26,430 (2023: £485,101 owed to Avantec Ltd).

Hawksley & Sons Limited
Hawksley & Sons Limited is a connected company as M W Gale, a key member of management of Southdown Construction (Metalwork) Limited is a director and shareholder of Hawksley & Sons Limited.

During the year the company made purchases of £16,666 (2023: £66,000) from and paid rent of £nil (2023: £25,000) to Hawksley and Sons Limited, a connected company. The company owed Hawksley & Sons Limited £201,000 (2023: £91,000) at 29th February 2024.