Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01falseNo description of principal activity1313trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02864995 2023-05-01 2024-04-30 02864995 2022-05-01 2023-04-30 02864995 2024-04-30 02864995 2023-04-30 02864995 c:CompanySecretary1 2023-05-01 2024-04-30 02864995 c:Director1 2023-05-01 2024-04-30 02864995 c:Director2 2023-05-01 2024-04-30 02864995 c:Director3 2023-05-01 2024-04-30 02864995 c:RegisteredOffice 2023-05-01 2024-04-30 02864995 d:PlantMachinery 2023-05-01 2024-04-30 02864995 d:PlantMachinery 2024-04-30 02864995 d:PlantMachinery 2023-04-30 02864995 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02864995 d:MotorVehicles 2023-05-01 2024-04-30 02864995 d:MotorVehicles 2024-04-30 02864995 d:MotorVehicles 2023-04-30 02864995 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02864995 d:FurnitureFittings 2023-05-01 2024-04-30 02864995 d:FurnitureFittings 2024-04-30 02864995 d:FurnitureFittings 2023-04-30 02864995 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02864995 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02864995 d:CurrentFinancialInstruments 2024-04-30 02864995 d:CurrentFinancialInstruments 2023-04-30 02864995 d:Non-currentFinancialInstruments 2024-04-30 02864995 d:Non-currentFinancialInstruments 2023-04-30 02864995 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02864995 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02864995 d:ShareCapital 2024-04-30 02864995 d:ShareCapital 2023-04-30 02864995 d:RetainedEarningsAccumulatedLosses 2024-04-30 02864995 d:RetainedEarningsAccumulatedLosses 2023-04-30 02864995 c:FRS102 2023-05-01 2024-04-30 02864995 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02864995 c:FullAccounts 2023-05-01 2024-04-30 02864995 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02864995 2 2023-05-01 2024-04-30 02864995 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company registration number: 02864995







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


SOUTHERN COATING CONTRACTORS LIMITED






































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SOUTHERN COATING CONTRACTORS LIMITED
 


 
COMPANY INFORMATION


Directors
Mr A D Frost 
Mr J D Rooker 
Mr D J Skeates 




Company secretary
Mr A D Frost



Registered number
02864995



Registered office
277 Shirley Road
Shirley

Southampton

Hampshire

SO15 3HT




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


SOUTHERN COATING CONTRACTORS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8




 


SOUTHERN COATING CONTRACTORS LIMITED
REGISTERED NUMBER:02864995



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
157,620
63,138

  
157,620
63,138

Current assets
  

Debtors: amounts falling due after more than one year
 5 
545,706
545,706

Debtors: amounts falling due within one year
 5 
674,547
738,647

Cash at bank and in hand
  
278,359
454,159

  
1,498,612
1,738,512

Creditors: amounts falling due within one year
 6 
(645,727)
(809,571)

Net current assets
  
 
 
852,885
 
 
928,941

Total assets less current liabilities
  
1,010,505
992,079

Provisions for liabilities
  

Deferred tax
  
(33,030)
(14,554)

  
 
 
(33,030)
 
 
(14,554)

Net assets
  
977,475
977,525

Page 1

 


SOUTHERN COATING CONTRACTORS LIMITED
REGISTERED NUMBER:02864995


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
977,375
977,425

  
977,475
977,525


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.

Mr J D Rooker
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Southern Coating Contractors Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Page 5

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 6

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
242,951
327,880
24,387
595,218


Additions
20,350
151,077
-
171,427


Disposals
-
(173,181)
-
(173,181)



At 30 April 2024

263,301
305,776
24,387
593,464



Depreciation


At 1 May 2023
206,153
301,921
24,007
532,081


Charge for the year on owned assets
14,287
44,259
95
58,641


Disposals
-
(154,878)
-
(154,878)



At 30 April 2024

220,440
191,302
24,102
435,844



Net book value



At 30 April 2024
42,861
114,474
285
157,620



At 30 April 2023
36,798
25,959
381
63,138

Page 7

 


SOUTHERN COATING CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
545,706
545,706

545,706
545,706


2024
2023
£
£

Due within one year

Trade debtors
8,185
370,595

Other debtors
666,362
368,052

674,547
738,647



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
267,361
201,125

Corporation tax
14,609
17,734

Other taxation and social security
18,050
15,941

Other creditors
5,000
331,000

Accruals and deferred income
340,707
243,771

645,727
809,571



7.


Advances, credits and guarantees with the directors

At the year end, included within debtors due under one year was a loan account balance due to the company amounting to £613,729 (2023 £297,558). Repayments of £294,106 were received during the year. This loan is undated and unsecured. Interest is being charged at HMRC's official rate of interest on a daily basis.

 
Page 8