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REGISTERED NUMBER: 04601171 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

South West Geotechnical Limited

South West Geotechnical Limited (Registered number: 04601171)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


South West Geotechnical Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: N P S Forrow
H L Forrow
B Fardaghaie
D Buckley





SECRETARY: T Gray





REGISTERED OFFICE: Unit 3 Brooklands
Howden Road
Tiverton
Devon
EX16 5HW





REGISTERED NUMBER: 04601171 (England and Wales)

South West Geotechnical Limited (Registered number: 04601171)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 210,454 233,993
210,454 233,993

CURRENT ASSETS
Debtors 6 1,762,531 1,250,674
Cash at bank 1,435,544 778,907
3,198,075 2,029,581
CREDITORS
Amounts falling due within one year 7 786,292 505,310
NET CURRENT ASSETS 2,411,783 1,524,271
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,622,237

1,758,264

PROVISIONS FOR LIABILITIES 50,841 56,650
NET ASSETS 2,571,396 1,701,614

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 500 500
Retained earnings 2,570,396 1,700,614
2,571,396 1,701,614

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 11 April 2025 and were signed on its behalf by:





N P S Forrow - Director


South West Geotechnical Limited (Registered number: 04601171)

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

1. STATUTORY INFORMATION

South West Geotechnical 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.

The financial statements have been prepared using a basis other than going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Plant and machinery3/4/10/15/20 years straight line
Fixtures, fittings & equipment15% reducing balance
Computer equipment3 years straight line
Motor vehicles25% reducing balance
Leasehold improvements5 years straight line

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 the profit or loss.

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 balance sheet date.


South West Geotechnical Limited (Registered number: 04601171)

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 90,000
AMORTISATION
At 1 January 2024
and 31 December 2024 90,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

South West Geotechnical Limited (Registered number: 04601171)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 15,666 271,427 25,537
Additions - 41,967 139
Disposals - (144,459 ) -
At 31 December 2024 15,666 168,935 25,676
DEPRECIATION
At 1 January 2024 15,194 120,785 18,230
Charge for year 339 17,761 1,039
Eliminated on disposal - (94,025 ) -
At 31 December 2024 15,533 44,521 19,269
NET BOOK VALUE
At 31 December 2024 133 124,414 6,407
At 31 December 2023 472 150,642 7,307

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 197,268 21,029 530,927
Additions 8,500 22,224 72,830
Disposals (10,090 ) - (154,549 )
At 31 December 2024 195,678 43,253 449,208
DEPRECIATION
At 1 January 2024 121,696 21,029 296,934
Charge for year 18,823 7,405 45,367
Eliminated on disposal (9,522 ) - (103,547 )
At 31 December 2024 130,997 28,434 238,754
NET BOOK VALUE
At 31 December 2024 64,681 14,819 210,454
At 31 December 2023 75,572 - 233,993

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 935,130 304,727
Amounts owed by group undertakings 769,483 691,457
Other debtors 57,918 254,490
1,762,531 1,250,674

South West Geotechnical Limited (Registered number: 04601171)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 65,298 68,201
Taxation and social security 617,117 426,705
Other creditors 103,877 10,404
786,292 505,310

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 43,000 39,148
Between one and five years 25,083 17,124
68,083 56,272

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)
for and on behalf of Botham Accounting Limited

10. CONTINGENT LIABILITIES

As at 31 December 2024, the total liabilities of other group members secured by a fixed charge over the assets of the company was £729,687,424 (2023: £NIL).

11. NON ADJUSTING EVENTS AFTER THE FINANCIAL PERIOD

It is the intentions of the Directors that the trade and assets will be merged in another group company within 12 months of the date of signing. The company will then cease to trade and as such the accounts have been prepared on a basis other than going concern.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Mica Bidco Limited, a company incorporated in England and Wales. Copies of the parent company's financial statements can be obtained from Companies House.

The ultimate parent undertaking and controlling party is TIC Holdco Limited, a company registered in England and Wales. The consolidated accounts of TIC Holdco Limited, in which the company is included, are available to the public and may be obtained from Companies House. The directors are of the opinion that Peter Dubens is qualified as the ultimate controlling party of TIC Holdco Limited exercising his control through voting rights with a controlling percentage of >50%.