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REGISTERED NUMBER: 07919554 (England and Wales)



















SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 224,718 511,016

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 5 151,739 120,803
Cash at bank and in hand 23,584 19,175
215,323 179,978
CREDITORS
Amounts falling due within one year 6 448,043 253,336
NET CURRENT LIABILITIES (232,720 ) (73,358 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,002

)

437,658

CREDITORS
Amounts falling due after more than one year 7 82,107 214,138
NET (LIABILITIES)/ASSETS (90,109 ) 223,520

CAPITAL AND RESERVES
Called up share capital 101 101
Fair value reserve 9 - 215,000
Retained earnings (90,210 ) 8,419
SHAREHOLDERS' FUNDS (90,109 ) 223,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

BALANCE SHEET - continued
31 JANUARY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





Mr P J Goodwin - Director


SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Southern Commercial Truck & Trailer Repairs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07919554

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

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.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from repairs and maintenance of trucks and trailers and is recognised when the customer has received the service. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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

SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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 8 (2023 - 8 ) .

SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 February 2023 215,000 522,676 828 738,504
Disposals (215,000 ) - (828 ) (215,828 )
At 31 January 2024 - 522,676 - 522,676
DEPRECIATION
At 1 February 2023 4,300 223,051 137 227,488
Charge for year - 74,907 - 74,907
Eliminated on disposal (4,300 ) - (137 ) (4,437 )
At 31 January 2024 - 297,958 - 297,958
NET BOOK VALUE
At 31 January 2024 - 224,718 - 224,718
At 31 January 2023 210,700 299,625 691 511,016

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 338,560
DEPRECIATION
At 1 February 2023 111,215
Charge for year 57,204
At 31 January 2024 168,419
NET BOOK VALUE
At 31 January 2024 170,141
At 31 January 2023 227,345

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 113,458 113,458
Other debtors 38,281 7,345
151,739 120,803

SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 499 10,650
Hire purchase contracts 112,829 60,624
Trade creditors 6,600 -
Taxation and social security 168,931 66,577
Other creditors 159,184 115,485
448,043 253,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 82,107 94,350
Hire purchase contracts - 119,788
82,107 214,138

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 82,107 94,350

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 112,829 180,412

The hire purchase agreements are fixed over the company's assets.

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023 215,000
Fair value movements (215,000 )

At 31 January 2024 -

SOUTHERN COMMERCIAL TRUCK & TRAILER
REPAIRS LTD (REGISTERED NUMBER: 07919554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, interest has been charged on the loan at the HMRC official rate of interest totalling £nil (2023 - £288).

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director £9,799 (2023 - £7,346 was due from the director).