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Registration number: 13090808

Southern ADAS Specialists Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Southern ADAS Specialists Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Southern ADAS Specialists Ltd

Company Information

Directors

Marc Antoni Stenning

Natasha Stenning

Registered office

11 Jevington Drive
Brighton
BN2 4DG

Accountants

Trangmar Accounting Services Limited
11 Pinewood Close
Broadbridge Heath
Horsham
West Sussex
RH12 3TP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Southern ADAS Specialists Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Southern ADAS Specialists Ltd for the year ended 31 December 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Southern ADAS Specialists Ltd, as a body, in accordance with the terms of our engagement letter dated 8 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Southern ADAS Specialists Ltd and state those matters that we have agreed to state to the Board of Directors of Southern ADAS Specialists Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southern ADAS Specialists Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Southern ADAS Specialists Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Southern ADAS Specialists Ltd. You consider that Southern ADAS Specialists Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Southern ADAS Specialists Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Trangmar Accounting Services Limited
11 Pinewood Close
Broadbridge Heath
Horsham
West Sussex
RH12 3TP

21 February 2025

 

Southern ADAS Specialists Ltd

(Registration number: 13090808)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,814

11,581

Current assets

 

Debtors

5

7,739

10,265

Cash at bank and in hand

 

22,218

28,718

 

29,957

38,983

Creditors: Amounts falling due within one year

6

(34,696)

(38,688)

Net current (liabilities)/assets

 

(4,739)

295

Total assets less current liabilities

 

6,075

11,876

Creditors: Amounts falling due after more than one year

6

(2,603)

(5,345)

Net assets

 

3,472

6,531

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

3,471

6,530

Shareholders' funds

 

3,472

6,531

 

Southern ADAS Specialists Ltd

(Registration number: 13090808)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 February 2025 and signed on its behalf by:
 

.........................................
Marc Antoni Stenning
Director

 

Southern ADAS Specialists Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

1

6,531

6,532

Profit for the year

-

12,526

12,526

Dividends

-

(15,586)

(15,586)

At 31 December 2024

1

3,471

3,472

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1

9,027

9,028

Loss for the year

-

(2,497)

(2,497)

At 31 December 2023

1

6,530

6,531

 

Southern ADAS Specialists Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
11 Jevington Drive
Brighton
BN2 4DG
England

These financial statements were authorised for issue by the Board on 21 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Southern ADAS Specialists Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% & 33.33% straight line on cost

Motor Vehicles

50% straight line on cost

Fixtures & Fittings

33.33% straight line on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Southern ADAS Specialists Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

-

38,546

21,395

59,941

Additions

148

4,894

-

5,042

At 31 December 2024

148

43,440

21,395

64,983

Depreciation

At 1 January 2024

-

26,965

21,395

48,360

Charge for the year

12

5,797

-

5,809

At 31 December 2024

12

32,762

21,395

54,169

Carrying amount

At 31 December 2024

136

10,678

-

10,814

At 31 December 2023

-

11,581

-

11,581

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,472

9,768

Prepayments

267

497

 

7,739

10,265

 

Southern ADAS Specialists Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14,365

4,275

Amounts due to related parties

9

16,173

29,108

Social security and other taxes

 

2,603

3,736

Accruals

 

790

1,569

Income tax liability

765

-

 

34,696

38,688

Due after one year

 

Loans and borrowings

2,603

5,345

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

8

Dividends

2024

2023

£

£

Interim dividend of £15,586.35 (2023 - £Nil) per ordinary share

15,586

-

 

 

9

Related party transactions

Summary of transactions with key management

A director, Marc Antoni Stenning, loaned the company cash for working capital.
 Interest is paid to the director at the Bank of England Base Rate plus 5%.
 

 

Southern ADAS Specialists Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Transactions with directors

2024

At 1 January 2024
£

Repayments to director
£

Advance/Credit from director
£

At 31 December 2024
£

Marc Antoni Stenning

Loan from Director

29,108

(15,072)

2,137

16,173

2023

At 1 January 2023
£

Repayments to director
£

Advance/Credit from director
£

At 31 December 2023
£

Marc Antoni Stenning

Loan from Director

31,212

(5,340)

3,236

29,108

Dividends paid to directors

2024
£

2023
£

Marc Antoni Stenning

Interim Dividend

15,586

-