| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| South West Decorating Services Limited |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 1 |
| Liberty House |
| South Liberty Lane |
| Bristol |
| BS3 2ST |
| BANKERS: |
| 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 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| 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 |
| Capital redemption reserve | 10 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| 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 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| 6. | DEBTORS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Retentions | 39,222 | 34,458 |
| VAT |
| Prepayments |
| Amounts falling due after more than one year: |
| Retentions | 117,665 | 103,376 |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 31,616 | 32,058 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Hire purchase contracts |
| 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: | £ | £ |
| Ordinary | £1 | 120 | 120 |
| 10. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 653,926 |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2024 | 639,104 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company entered into the following transactions with the directors: |
| J M Stafford |
| 2024 | 2023 |
| Mileage expense paid | 3,773 | 5,142 |
| Gross interest paid by company | 524 | 434 |
| 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 |
| 2024 | 2023 |
| Gross interest paid by company | 460 | 797 |
| 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: |
| 2024 | 2023 |
| Brandwells Construction Company Limited | 42,000 | 47,000 |
| South West Homes RBS (1982) | 14,400 | 14,400 |
| 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. |