| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| South West Removals & Storage Ltd |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| South West Removals & Storage Ltd |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 8 |
| South West Removals & Storage Ltd |
| COMPANY INFORMATION |
| for the year ended 31 March 2025 |
| Directors: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| BALANCE SHEET |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | 10 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 11 |
| Retained earnings |
| Shareholders' funds |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| BALANCE SHEET - continued |
| 31 March 2025 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| South West Removals & Storage Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable in respect of services provided, net of value added tax. Turnover for removal services is recognised upon completion of the move. Rental of storage space is recognised in the period to which the rental income relates, adjusting for amounts in advance or arrears at the balance sheet date. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years and was fully amortised by 31st March 2021. |
| 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 |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Property | - Straight line over 50 years |
| Equipment | - 15% on reducing balance |
| Motor vehicles | - 25% on reducing balance |
| Land | - No depreciation |
| Leased vehicles | - Straight line over primary lease period |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 Removals & Storage Ltd (Registered number: 08911806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| Cost |
| At 1 April 2024 |
| and 31 March 2025 |
| Amortisation |
| At 1 April 2024 |
| and 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Motor |
| Property | Equipment | vehicles | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| Included in cost of land and buildings is land of £100,000 (2024 - £100,000) which is not depreciated. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank borrowing is secured by way of a fixed charge over the company property and the finance leases are secured against the relevant assets. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 26,600 | 27,200 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Provided during year | ( |
) |
| Balance at 31 March 2025 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the following amount to related parties who are both directors and shareholders of the company: |
| Mr J and Mrs K Day | £129,256 |
| Interest of £4,500 (2024 - £3,900) was paid on the above amount by the company. |
| South West Removals & Storage Ltd (Registered number: 08911806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 13. | ULTIMATE CONTROLLING PARTY |
| The company is ultimately controlled by the directors. |