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Registration number: 02998337

Southern Maintenance Solutions (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Southern Maintenance Solutions (UK) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 12

 

Southern Maintenance Solutions (UK) Limited

(Registration number: 02998337)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

79,064

6,500

Tangible assets

5

558,403

360,553

Investments

6

151,901

-

 

789,368

367,053

Current assets

 

Stocks

7

103,948

271,167

Debtors

8

1,115,324

736,431

Cash at bank and in hand

 

249,803

123,678

 

1,469,075

1,131,276

Creditors: Amounts falling due within one year

9

(1,003,511)

(915,753)

Net current assets

 

465,564

215,523

Total assets less current liabilities

 

1,254,932

582,576

Creditors: Amounts falling due after more than one year

9

(708,597)

(74,370)

Provisions for liabilities

(91,349)

(66,176)

Net assets

 

454,986

442,030

Capital and reserves

 

Called up share capital

250,000

250,000

Retained earnings

204,986

192,030

Shareholders' funds

 

454,986

442,030

 

Southern Maintenance Solutions (UK) Limited

(Registration number: 02998337)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 May 2025 and signed on its behalf by:
 

.........................................
K R Tarbox
Director

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of exemptions conferred by Financial Reporting Standard 102 - Related Party Disclosures not to disclose transactions between wholly owned members of the same group.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Plant & machinery

20% straight line

Office equipment

20% straight line

Leasehold improvements

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 32).

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

13,000

13,000

Additions acquired separately

73,864

73,864

At 30 September 2024

86,864

86,864

Amortisation

At 1 October 2023

6,500

6,500

Amortisation charge

1,300

1,300

At 30 September 2024

7,800

7,800

Carrying amount

At 30 September 2024

79,064

79,064

At 30 September 2023

6,500

6,500

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Leasehold improvements
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

138,548

108,351

35,436

562,531

844,866

Additions

13,474

18,525

4,382

390,248

426,629

Disposals

-

(15,043)

(9,237)

(180,365)

(204,645)

At 30 September 2024

152,022

111,833

30,581

772,414

1,066,850

Depreciation

At 1 October 2023

27,143

82,657

23,729

350,784

484,313

Charge for the year

26,912

10,235

5,143

109,111

151,401

Eliminated on disposal

-

(15,043)

(9,237)

(102,987)

(127,267)

At 30 September 2024

54,055

77,849

19,635

356,908

508,447

Carrying amount

At 30 September 2024

97,967

33,984

10,946

415,506

558,403

At 30 September 2023

111,405

25,694

11,707

211,747

360,553

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

151,901

-

Subsidiaries

£

Cost or valuation

Additions

151,901

Provision

Carrying amount

At 30 September 2024

151,901

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Active Heating Services Ltd

Waterside
1650 Arlington Business Park
Theale
Berkshire
RG7 4SA

Ordinary

100%

0%

         

Active Heating & Cooling Services Ltd

2 Old Bath Road
Newbury
Berkshire
RG14 1QL

Ordinary

100%

0%

 

England

     

Subsidiary undertakings

Active Heating Services Ltd

The principal activity of Active Heating Services Ltd is the supply of plumbing, heating and air-conditioning installation services. Its financial period end is 31 March.

Active Heating & Cooling Services Ltd

The principal activity of Active Heating & Cooling Services Ltd is that of a dormant company. Its financial period end is 31 August.

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Stocks

2024
£

2023
£

Work in progress

93,200

258,803

Other inventories

10,748

12,364

103,948

271,167

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

926,011

655,431

Amounts owed by group and related undertakings

12

111,315

5,390

Prepayments

 

70,703

38,173

Other debtors

 

7,295

37,437

   

1,115,324

736,431

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

130,434

49,017

Trade creditors

 

317,952

289,082

Amounts owed to group undertakings

12

-

256,869

Taxation and social security

 

251,673

200,374

Other creditors

 

303,452

120,411

 

1,003,511

915,753

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

294,260

74,370

Other financial liabilities

 

414,337

-

 

708,597

74,370

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

43,392

10,056

Hire purchase contracts

87,042

38,961

130,434

49,017

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

84,822

18,215

Hire purchase contracts

209,438

56,155

294,260

74,370

Hire purchase contracts are secured on the assets to which they relate.

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £223,250 (2023 - £Nil).

12

Related party transactions

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Subsidiary
£

Other related parties
£

Amounts receivable from related party

104,646

6,669

1,844

2023

Entities with joint control or significant influence
£

Other related parties
£

Amounts receivable from related party

5,390

1,844

Expenditure with and payables to related parties

2024

Parent
£

Subsidiary
£

Amounts payable to related party

414,337

100

2023

Parent
£

Amounts payable to related party

256,869

 

Southern Maintenance Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

13

Parent and ultimate parent undertaking

The company's immediate parent is KT and DB Holdings Limited, incorporated in England and Wales.