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Company No: 03011816 (England and Wales)

SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
DIRECTORS K R Hampstead
B R Jones
SECRETARY K R Hampstead
REGISTERED OFFICE Wey Court West
Union Road
Farnham
GU9 7PT
United Kingdom
COMPANY NUMBER 03011816 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025
SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 MARCH 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 17,705 7,256
17,705 7,256
Current assets
Stocks 4 314,081 326,390
Debtors 5 249,788 281,367
Cash at bank and in hand 71,249 57,778
635,118 665,535
Creditors: amounts falling due within one year 6 ( 412,236) ( 466,251)
Net current assets 222,882 199,284
Total assets less current liabilities 240,587 206,540
Creditors: amounts falling due after more than one year 7 0 ( 4,021)
Provision for liabilities 8, 9 ( 3,155) ( 470)
Net assets 237,432 202,049
Capital and reserves
Called-up share capital 126 126
Profit and loss account 237,306 201,923
Total shareholders' funds 237,432 202,049

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Southern Electromotive Distribution Limited (registered number: 03011816) were approved and authorised for issue by the Board of Directors on 23 May 2025. They were signed on its behalf by:

K R Hampstead
Director
B R Jones
Director
SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
SOUTHERN ELECTROMOTIVE DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
1. Accounting policies

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

General information and basis of accounting

Southern Electromotive Distribution 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 Wey Court West, Union Road, Farnham, GU9 7PT, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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 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.

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 5 years straight line
Vehicles 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 11

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 April 2024 10,968 67,821 78,789
Additions 2,249 13,000 15,249
Disposals 0 ( 21,180) ( 21,180)
At 31 March 2025 13,217 59,641 72,858
Accumulated depreciation
At 01 April 2024 10,119 61,414 71,533
Charge for the financial year 601 4,199 4,800
Disposals 0 ( 21,180) ( 21,180)
At 31 March 2025 10,720 44,433 55,153
Net book value
At 31 March 2025 2,497 15,208 17,705
At 31 March 2024 849 6,407 7,256

4. Stocks

2025 2024
£ £
Stocks 314,081 326,390

5. Debtors

2025 2024
£ £
Trade debtors 249,788 281,367

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 4,021 22,870
Trade creditors 231,100 263,415
Accruals 2,750 2,750
Corporation tax 51,884 54,932
Other taxation and social security 36,204 31,891
Other creditors 86,277 90,393
412,236 466,251

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 0 4,021

8. Provision for liabilities

2025 2024
£ £
Deferred tax 3,155 470

9. Deferred tax

2025 2024
£ £
At the beginning of financial year ( 470) ( 112)
Charged to the Statement of Income and Retained Earnings ( 2,685) ( 358)
At the end of financial year ( 3,155) ( 470)

The deferred taxation balance is made up as follows:

2025 2024
£ £
Accelerated capital allowances ( 3,285) ( 600)
Pension Surplus 130 130
( 3,155) ( 470)

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The Pension cost charge represents contributions payable by the company to the fund and amounted to £6,815 (2024 : £6,842). Contributions totalling £1,289 (2024: £1,214) were payable to the fund at the reporting date and are included in creditors.