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Registered number: 01396394
South East Arc Welding Co. Limited
Unaudited Financial Statements
For The Year Ended 29 November 2024
Stephen Farra Associates Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01396394
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 139,197 148,574
139,197 148,574
CURRENT ASSETS
Stocks 6 62,790 158,686
Debtors 7 498,401 577,615
Cash at bank and in hand 14 113
561,205 736,414
Creditors: Amounts Falling Due Within One Year 8 (347,077 ) (435,843 )
NET CURRENT ASSETS (LIABILITIES) 214,128 300,571
TOTAL ASSETS LESS CURRENT LIABILITIES 353,325 449,145
Creditors: Amounts Falling Due After More Than One Year 9 (496,300 ) (383,300 )
NET (LIABILITIES)/ASSETS (142,975 ) 65,845
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (143,075 ) 65,745
SHAREHOLDERS' FUNDS (142,975) 65,845
Page 1
Page 2
For the year ending 29 November 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs S A Stoneham
Director
28/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
South East Arc Welding Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01396394 . The registered office is Rosewarne, Meopham Green, Meopham, Kent, DA13 0QU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balane
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 28)
25 28
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 30 November 2023 17,092
As at 29 November 2024 17,092
Amortisation
As at 30 November 2023 17,092
As at 29 November 2024 17,092
Net Book Value
As at 29 November 2024 -
As at 30 November 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 30 November 2023 252,707 375,530 89,538 39,840
As at 29 November 2024 252,707 375,530 89,538 39,840
Depreciation
As at 30 November 2023 131,393 351,104 88,684 39,180
Provided during the period 5,054 3,759 220 99
As at 29 November 2024 136,447 354,863 88,904 39,279
Net Book Value
As at 29 November 2024 116,260 20,667 634 561
As at 30 November 2023 121,314 24,426 854 660
Computer Equipment Total
£ £
Cost
As at 30 November 2023 15,036 772,651
As at 29 November 2024 15,036 772,651
Depreciation
As at 30 November 2023 13,716 624,077
Provided during the period 245 9,377
As at 29 November 2024 13,961 633,454
Net Book Value
As at 29 November 2024 1,075 139,197
As at 30 November 2023 1,320 148,574
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Page 5
6. Stocks
2024 2023
£ £
Work in progress 62,790 158,686
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 484,265 557,975
Other debtors 14,136 19,640
498,401 577,615
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,431 54,202
Bank loans and overdrafts 216,176 258,962
Other creditors 47,818 43,563
Taxation and social security 64,652 79,116
347,077 435,843
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
S Stoneham loans 46,300 43,300
Other creditors 450,000 340,000
496,300 383,300
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5