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REGISTERED NUMBER: 13879698 (England and Wales)















LIMITLESS (SOUTH WEST) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JANUARY 2025






LIMITLESS (SOUTH WEST) LTD (REGISTERED NUMBER: 13879698)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


LIMITLESS (SOUTH WEST) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2025







DIRECTOR: Mr C M Gleed





SECRETARY: Mr C M Gleed





REGISTERED OFFICE: 46 Beech Avenue
SWINDON
Wiltshire
SN2 1JR





REGISTERED NUMBER: 13879698 (England and Wales)





ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG

LIMITLESS (SOUTH WEST) LTD (REGISTERED NUMBER: 13879698)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,192 28,558

CURRENT ASSETS
Debtors 5 76,719 114,839
Cash at bank 18,007 195,715
94,726 310,554
CREDITORS
Amounts falling due within one year 6 10,417 72,657
NET CURRENT ASSETS 84,309 237,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,501

266,455

PROVISIONS FOR LIABILITIES 8,405 4,050
NET ASSETS 126,096 262,405

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 125,996 262,305
SHAREHOLDERS' FUNDS 126,096 262,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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.

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 18th March 2025 and were signed by:





Mr C M Gleed - Director


LIMITLESS (SOUTH WEST) LTD (REGISTERED NUMBER: 13879698)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025


1. STATUTORY INFORMATION

Limitless (South West) Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 13879698.

The company's registered address is 46 Beech Avenue, Swindon, SN2 1JR.

The presentation currency of the financial statements is £GBP 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 preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.


LIMITLESS (SOUTH WEST) LTD (REGISTERED NUMBER: 13879698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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 10 (2024 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2024 34,468
Additions 35,929
At 31st January 2025 70,397
DEPRECIATION
At 1st February 2024 5,910
Charge for year 14,295
At 31st January 2025 20,205
NET BOOK VALUE
At 31st January 2025 50,192
At 31st January 2024 28,558

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 3,977 384
Amounts recoverable on contract 19,217 80,597
Other debtors 53,525 33,858
76,719 114,839

LIMITLESS (SOUTH WEST) LTD (REGISTERED NUMBER: 13879698)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 5,143 18,758
Taxation and social security - 46,491
Other creditors 5,274 7,408
10,417 72,657

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2025 and 31st January 2024:

2025 2024
£    £   
Mr C M Gleed
Balance outstanding at start of year 780 100
Amounts advanced - 780
Amounts repaid (780 ) (100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 780