Company registration number 07041814 (England and Wales)
SOUTHAM AUTOMATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SOUTHAM AUTOMATION LIMITED
COMPANY INFORMATION
Directors
Mr J E Smith
(Appointed 14 February 2025)
Mr B C Smith
Company number
07041814
Registered office
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
B44 8LS
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
SOUTHAM AUTOMATION LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
SOUTHAM AUTOMATION LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHAM AUTOMATION LIMITED FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southam Automation Limited for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Southam Automation Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Southam Automation Limited and state those matters that we have agreed to state to the Board of Directors of Southam Automation Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southam Automation Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Southam Automation Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southam Automation Limited. You consider that Southam Automation Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Southam Automation Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
B44 8LS
United Kingdom
10 June 2025
SOUTHAM AUTOMATION LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,347
13,391
Current assets
Stocks
20,665
47,608
Debtors
4
4,231
4,221
Cash at bank and in hand
100,821
74,745
125,717
126,574
Creditors: amounts falling due within one year
5
(31,078)
(41,291)
Net current assets
94,639
85,283
Total assets less current liabilities
104,986
98,674
Provisions for liabilities
(2,587)
(3,347)
Net assets
102,399
95,327
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
102,299
95,227
Total equity
102,399
95,327

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 June 2025 and are signed on its behalf by:
Mr B C Smith
Director
Company registration number 07041814 (England and Wales)
SOUTHAM AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Southam Automation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, B44 8LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance

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.

SOUTHAM AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.5
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 current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2

The directors received no remuneration for their services to the company in either the current or previous financial year.

SOUTHAM AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
18,261
517
20,017
38,795
Additions
-
0
108
-
0
108
At 31 October 2024
18,261
625
20,017
38,903
Depreciation and impairment
At 1 November 2023
13,591
241
11,572
25,404
Depreciation charged in the year
934
107
2,111
3,152
At 31 October 2024
14,525
348
13,683
28,556
Carrying amount
At 31 October 2024
3,736
277
6,334
10,347
At 31 October 2023
4,670
276
8,445
13,391
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,231
4,221
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,116
-
0
Corporation tax
12,693
35,049
Other taxation and social security
12,711
1,862
Other creditors
4,558
4,380
31,078
41,291
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
SOUTHAM AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
7
Directors' transactions

Dividends totalling £20,000 (2023 - £75,000) were paid in the year in respect of shares held by the company's directors.

Included within other creditors is a loan from the directors amounting to £1,350 (2023: £1,350). The loan has no specific terms regarding the payment of interest but is repayable on demand.

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