IRIS Accounts Production v25.1.3.33 01263478 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true true true true true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012634782023-12-31012634782024-12-31012634782024-01-012024-12-31012634782022-12-31012634782023-01-012023-12-31012634782023-12-3101263478ns15:EnglandWales2024-01-012024-12-3101263478ns14:PoundSterling2024-01-012024-12-3101263478ns10:Director12024-01-012024-12-3101263478ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3101263478ns10:SmallEntities2024-01-012024-12-3101263478ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3101263478ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3101263478ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3101263478ns10:FullAccounts2024-01-012024-12-3101263478ns10:OrdinaryShareClass12024-01-012024-12-3101263478ns10:Director22024-01-012024-12-3101263478ns10:RegisteredOffice2024-01-012024-12-3101263478ns5:CurrentFinancialInstruments2024-12-3101263478ns5:CurrentFinancialInstruments2023-12-3101263478ns5:Non-currentFinancialInstruments2024-12-3101263478ns5:Non-currentFinancialInstruments2023-12-3101263478ns5:ShareCapital2024-12-3101263478ns5:ShareCapital2023-12-3101263478ns5:CapitalRedemptionReserve2024-12-3101263478ns5:CapitalRedemptionReserve2023-12-3101263478ns5:RetainedEarningsAccumulatedLosses2024-12-3101263478ns5:RetainedEarningsAccumulatedLosses2023-12-3101263478ns5:MotorVehicles2024-01-012024-12-3101263478ns5:ComputerEquipment2024-01-012024-12-3101263478ns5:MotorVehicles2023-12-3101263478ns5:ComputerEquipment2023-12-3101263478ns5:MotorVehicles2024-12-3101263478ns5:ComputerEquipment2024-12-3101263478ns5:MotorVehicles2023-12-3101263478ns5:ComputerEquipment2023-12-3101263478ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3101263478ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-012024-12-3101263478ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-12-3101263478ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3101263478ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3101263478ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3101263478ns10:OrdinaryShareClass12024-12-3101263478ns5:RetainedEarningsAccumulatedLosses2023-12-3101263478ns5:CapitalRedemptionReserve2023-12-3101263478ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 01263478 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2024

for

South West Decorating Services Limited

South West Decorating Services Limited (Registered number: 01263478)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


South West Decorating Services Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr J M Stafford
Mr L M Stafford



REGISTERED OFFICE: Park House
Church Road
St George
Bristol
BS5 7AG



REGISTERED NUMBER: 01263478 (England and Wales)



ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST



BANKERS: National Westminster Bank Plc
PO Box 238
Corn Street
Bristol
BS99 7UG

South West Decorating Services Limited (Registered number: 01263478)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 37,253 48,793

CURRENT ASSETS
Inventories 5 283,161 275,556
Debtors 6 221,613 223,996
Cash at bank 316,370 329,204
821,144 828,756
CREDITORS
Amounts falling due within one year 7 219,173 217,392
NET CURRENT ASSETS 601,971 611,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

639,224

660,157

CREDITORS
Amounts falling due after more than one
year

8

-

6,111
NET ASSETS 639,224 654,046

South West Decorating Services Limited (Registered number: 01263478)

Statement of Financial Position - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 120 120
Capital redemption reserve 10 67 67
Retained earnings 10 639,037 653,859
SHAREHOLDERS' FUNDS 639,224 654,046

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





Mr J M Stafford - Director


South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

South West Decorating Services 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 represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

Depreciation
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.
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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 statement of financial position date.


South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 statement of financial position 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.

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.

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. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. PROPERTY, PLANT AND EQUIPMENT
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 126,704 3,373 130,077
Disposals (14,756 ) - (14,756 )
At 31 December 2024 111,948 3,373 115,321
DEPRECIATION
At 1 January 2024 77,911 3,373 81,284
Charge for year 9,312 - 9,312
Eliminated on disposal (12,528 ) - (12,528 )
At 31 December 2024 74,695 3,373 78,068
NET BOOK VALUE
At 31 December 2024 37,253 - 37,253
At 31 December 2023 48,793 - 48,793

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 26,995
DEPRECIATION
At 1 January 2024 6,479
Charge for year 4,103
At 31 December 2024 10,582
NET BOOK VALUE
At 31 December 2024 16,413
At 31 December 2023 20,516

South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. INVENTORIES
31.12.24 31.12.23
£    £   
Work-in-progress 283,161 275,556

6. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 40,291 66,828
Retentions 39,222 34,458
VAT 10,881 7,989
Prepayments 13,554 11,345
103,948 120,620

Amounts falling due after more than one year:
Retentions 117,665 103,376

Aggregate amounts 221,613 223,996

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 5,556 6,667
Trade creditors 80,850 81,848
Social security and other taxes 22,502 22,938
Other creditors 61,721 63,772
Directors' current accounts 31,616 32,058
Accrued expenses 16,928 10,109
219,173 217,392

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts - 6,111

South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
120 Ordinary £1 120 120

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 653,859 67 653,926
Deficit for the year (14,822 ) (14,822 )
At 31 December 2024 639,037 67 639,104

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company entered into the following transactions with the directors:

J M Stafford
20242023

Mileage expense paid3,7735,142

Gross interest paid by company524434

Capital introduced/(Withdrawn)(2,541)(1,558)

At the year end the amount due to the director was £16,012 (2023 - £14,361).

L M Stafford
20242023

Gross interest paid by company460797

Capital introduced/(Withdrawn)(2,553)(11,757)

At the year end the amount due to the director was £15,604 (2023 - £17,697).

South West Decorating Services Limited (Registered number: 01263478)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. RELATED PARTY DISCLOSURES

During the current year, the company entered into transactions with companies in which the directors and shareholders of South West Decorating Services Limited also held directorships. These transactions are detailed below:

Goods and services were invoiced by the following companies to South West Decorating Services Limited:

20242023

Brandwells Construction Company Limited42,00047,000
South West Homes RBS (1982)14,40014,400


The balance owing to Brandwells Construction Company Limited at the balance sheet date was £5,170 (2023 - £4,617).

These transactions were conducted at arms length on normal commercial terms.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J M Stafford.