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REGISTERED NUMBER: SC200345 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SOUTHMAINS MECHANICAL SERVICES LIMITED

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

SOUTHMAINS MECHANICAL SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTOR: I M McPherson



SECRETARY: J McPherson



REGISTERED OFFICE: 4 Southmains Cottage
Craigends Road
Houston
Glasgow
PA6 7BB



REGISTERED NUMBER: SC200345 (Scotland)



ACCOUNTANTS: Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY



BANKERS: The Royal Bank of Scotland
East Kilbride Branch
24/25 Princes Square
East Kilbride
Glasgow
G74 1LJ

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

ABRIDGED BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,577 23,607

CURRENT ASSETS
Debtors 82,392 65,701
Cash at bank 928 60,138
83,320 125,839
CREDITORS
Amounts falling due within one year 14,937 70,311
NET CURRENT ASSETS 68,383 55,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,960

79,135

PROVISIONS FOR LIABILITIES 5 22,289 2,801
NET ASSETS 170,671 76,334

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 6 170,667 76,330
SHAREHOLDERS' FUNDS 170,671 76,334

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

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

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

ABRIDGED BALANCE SHEET - continued
30 September 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 February 2025 and were signed by:





I M McPherson - Director


SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Southmains Mechanical Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The financial statements have been prepared on a going concern basis which assumes the continued support of the bank, the director and the short-term creditors. The director is confident that this support will be maintained and is of the opinion that the company will continue to trade and pay its debts as they fall due.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash generating unit) is estimated to be less than it's carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation surplus.

3. EMPLOYEES AND DIRECTORS

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

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 267,180
Additions 142,496
At 30 September 2024 409,676
DEPRECIATION
At 1 October 2023 243,573
Charge for year 41,526
At 30 September 2024 285,099
NET BOOK VALUE
At 30 September 2024 124,577
At 30 September 2023 23,607

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 18,534
DEPRECIATION
At 1 October 2023 17,950
Charge for year 146
At 30 September 2024 18,096
NET BOOK VALUE
At 30 September 2024 438
At 30 September 2023 584

5. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 22,289 2,801

SOUTHMAINS MECHANICAL SERVICES LIMITED (REGISTERED NUMBER: SC200345)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

5. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 2,801
Charge to Income Statement during year 19,488
Balance at 30 September 2024 22,289

6. RESERVES
Retained
earnings
£   

At 1 October 2023 76,330
Profit for the year 113,118
Dividends (18,781 )
At 30 September 2024 170,667

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
I M McPherson
Balance outstanding at start of year 18,575 36,634
Amounts advanced - 52,655
Amounts repaid (18,575 ) (70,714 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 18,575

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOUTHMAINS MECHANICAL SERVICES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southmains Mechanical Services Limited for the year ended 30 September 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Southmains Mechanical Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southmains Mechanical Services Limited and state those matters that we have agreed to state to the director of Southmains Mechanical Services Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Southmains Mechanical Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southmains Mechanical Services Limited. You consider that Southmains Mechanical Services Limited 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 financial statements of Southmains Mechanical Services Limited. 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 financial statements.






Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY


25 February 2025