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REGISTERED NUMBER: 07429225 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2024

FOR

SOUTHERN RETAIL SYSTEMS LIMITED

SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHERN RETAIL SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: S Vinall





SECRETARY:





REGISTERED OFFICE: Unit 3A, Austin Park
Yeoman Way
Ringwood
Hampshire
BH24 3FG





REGISTERED NUMBER: 07429225 (England and Wales)





ACCOUNTANTS: Elson Geaves Accountants
Chartered Certified Accountants
Elson Geaves
Forest Links Road
Ferndown
Dorset
BH22 9PH

SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,500 26,000
Tangible assets 5 40,006 45,586
59,506 71,586

CURRENT ASSETS
Stocks 25,500 25,000
Debtors 6 859,241 528,318
Prepayments and accrued income 4,973 4,309
Cash at bank 585,096 477,295
1,474,810 1,034,922
CREDITORS
Amounts falling due within one year 7 1,040,251 637,547
NET CURRENT ASSETS 434,559 397,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,065

468,961

CREDITORS
Amounts falling due after more than one
year

8

-

1,537
NET ASSETS 494,065 467,424

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 493,065 466,424
494,065 467,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)

BALANCE SHEET - continued
30 NOVEMBER 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 director and authorised for issue on 25 March 2025 and were signed by:





S Vinall - Director


SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)

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

1. STATUTORY INFORMATION

Southern Retail Systems 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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

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.


SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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
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 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 75,000
AMORTISATION
At 1 December 2023 49,000
Charge for year 6,500
At 30 November 2024 55,500
NET BOOK VALUE
At 30 November 2024 19,500
At 30 November 2023 26,000

SOUTHERN RETAIL SYSTEMS LIMITED (REGISTERED NUMBER: 07429225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 155,779
Additions 4,421
At 30 November 2024 160,200
DEPRECIATION
At 1 December 2023 110,193
Charge for year 10,001
At 30 November 2024 120,194
NET BOOK VALUE
At 30 November 2024 40,006
At 30 November 2023 45,586

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 859,241 453,861
Other debtors - 74,457
859,241 528,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,570 25,689
Trade creditors 791,907 482,707
Taxation and social security 230,780 121,392
Other creditors 1,994 7,759
1,040,251 637,547

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 1,537

9. RELATED PARTY DISCLOSURES

Mr S Vinal is the sole director and majority joint shareholder with his wife.