Company No: 05860086 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Susan Colley

REGISTERED OFFICE	Maltravers House
	Petters Way
	Yeovil
	BA20 1SH
	United Kingdom

COMPANY NUMBER

05860086 (England and Wales)

ACCOUNTANT	Old Mill Accountancy Limited
	Maltravers House
	Petters Way
	Yeovil
	Somerset
	BA20 1SH

	Note	07.07.2024		30.06.2023
		£		£
Fixed assets
Tangible assets	3	17,149		31,206
		17,149		31,206
Current assets
Debtors	4	242,062		62,809
Cash at bank and in hand	5	333,231		297,286
		575,293		360,095
Creditors: amounts falling due within one year	6	( 193,384)		( 46,622)
Net current assets		381,909		313,473
Total assets less current liabilities		399,058		344,679
Net assets		399,058		344,679
Capital and reserves
Called-up share capital		1		1
Profit and loss account		399,057		344,678
Total shareholder's funds		399,058		344,679

For the financial period ending 07 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SC Southwest Limited (registered number: 05860086) were approved and authorised for issue by the Director on 02 April 2025. They were signed on its behalf by:

Susan Colley Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SC Southwest Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Maltravers House, Petters Way, Yeovil, BA20 1SH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	Period from 01.07.2023 to 07.07.2024		Year ended 30.06.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	2		2

3. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 July 2023	39,131		40,304		79,435
Disposals	( 10,883)		0		( 10,883)
At 07 July 2024	28,248		40,304		68,552
Accumulated depreciation
At 01 July 2023	24,928		23,301		48,229
Charge for the financial period	1,099		4,251		5,350
Disposals	( 2,176)		0		( 2,176)
At 07 July 2024	23,851		27,552		51,403
Net book value
At 07 July 2024	4,397		12,752		17,149
At 30 June 2023	14,203		17,003		31,206

4. Debtors

	07.07.2024		30.06.2023
	£		£
Trade debtors	9,437		0
Other debtors	232,625		62,809
	242,062		62,809

5. Cash and cash equivalents

	07.07.2024		30.06.2023
	£		£
Cash at bank and in hand	333,231		297,286

6. Creditors: amounts falling due within one year

	07.07.2024		30.06.2023
	£		£
Taxation and social security	187,828		35,727
Obligations under finance leases and hire purchase contracts	0		5,648
Other creditors	5,556		5,247
	193,384		46,622

7. Related party transactions

Transactions with the entity's director

	07.07.2024		30.06.2023
	£		£
Directors' Loan Account	220,081		46,095

Advances

During the year £173,986 was advanced to a director. The balance owed by the director at the beginning of the year was £46,095 and at the end of the year was £220,081. The loan is unsecured, repayable on demand and interest has been charged at 2.5%.