Registered number
11318417
South Downs Mechanical Limited
Filleted Accounts
30 April 2024
South Downs Mechanical Limited
Registered number: 11318417
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 24,966 29,384
Current assets
Debtors 4 36,666 35,593
Cash at bank and in hand 50,421 4,844
87,087 40,437
Creditors: amounts falling due within one year 5 (97,687) (47,748)
Net current liabilities (10,600) (7,311)
Total assets less current liabilities 14,366 22,073
Creditors: amounts falling due after more than one year 6 (8,538) (15,440)
Provisions for liabilities (4,744) (5,583)
Net assets 1,084 1,050
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 84 50
Shareholder's funds 1,084 1,050
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Matthew Hird
Director
Approved by the board on 3 June 2025
South Downs Mechanical Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery etc 20% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 8,774 45,516 54,290
Additions 1,824 - 1,824
At 30 April 2024 10,598 45,516 56,114
Depreciation
At 1 May 2023 3,615 21,291 24,906
Charge for the year 1,397 4,845 6,242
At 30 April 2024 5,012 26,136 31,148
Net book value
At 30 April 2024 5,586 19,380 24,966
At 30 April 2023 5,159 24,225 29,384
4 Debtors 2024 2023
£ £
Trade debtors 14,755 32,377
Director’s loan account 15,515 -
Corporation tax – s455 recoverable 5,236 -
Other debtors 1,160 3,216
36,666 35,593
Amounts due after more than one year included above 5,236 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Obligations under finance lease and hire purchase contracts 1,902 1,684
Trade creditors 55,730 19,850
Taxation and social security costs 34,205 20,240
Other creditors 850 974
97,687 47,748
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,417 10,417
Obligations under finance lease and hire purchase contracts 3,121 5,023
8,538 15,440
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Matthew Hird
Director's Loan - 15,515 - 15,515
- 15,515 - 15,515
During the year, Matthew Hird, a director, received a loan from the company. Interest was charged on the loan at HMRC’s official rate of 2.25% where the balance exceeded £10,000, in accordance with company policy. The amount outstanding at the year end was £15,515 (2023: £nil). This balance is included within other debtors.
8 Corporation Tax - Section 455 Charge
A corporation tax charge of £5,236 has arisen under section 455 of the Corporation Tax Act 2010, as a director’s loan remained outstanding more than nine months after the end of the accounting period. This charge will be recoverable from HMRC when the loan is repaid and nine months have passed from that date.

As it is currently uncertain whether the loan will be repaid within the necessary timeframe, the related tax charge has been classified as due after more than one year.
9 Going Concern
At the balance sheet date, the company had net assets of £1,084, including an overdrawn director’s loan account of £15,515 (2023: £nil) owed by Matthew Hird.

The director has confirmed that he will provide continuing financial support to the company and make repayments against the overdrawn loan account as and when required, in order to enable the company to meet its liabilities as they fall due.

The director has indicated that he will not withdraw any amounts from the company until it has sufficient funds to do so.
10 Other information
South Downs Mechanical Limited is a private company limited by shares and incorporated in England. Its registered office is:
23 Portsmouth Enterprise Centre
Quartremaine Road
Portsmouth
PO3 5QT
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