Southern Sales & Services Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03103458

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,218		11,723

			10,218		11,723
CURRENT ASSETS
Stocks	5	257,171		274,531
Debtors	6	86,887		101,702
Cash at bank and in hand		-		31

		344,058		376,264
Creditors: Amounts Falling Due Within One Year	7	(237,554 )		(187,059 )

NET CURRENT ASSETS (LIABILITIES)			106,504		189,205

TOTAL ASSETS LESS CURRENT LIABILITIES			116,722		200,928

Creditors: Amounts Falling Due After More Than One Year	8		(15,185 )		(15,185 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(339 )		(441 )

NET ASSETS			101,198		185,302

CAPITAL AND RESERVES
Called up share capital	10		1,000		1,000
Profit and Loss Account			100,198		184,302

SHAREHOLDERS' FUNDS			101,198		185,302

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Southern Sales & Services Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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

Mr A E Dowell

Director

15/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Southern Sales & Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03103458 . The registered office is Prospect House, 50 Leigh Road, Eastleigh, Hampshire, SO50 9DT.

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. 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:

Plant & Machinery	20% - reducing balance
Motor Vehicles	25% - reducing balance
Fixtures & Fittings	15% - reducing balance
Computer Equipment	33% - reducing balance

2.4. 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.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Southern Sales & Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 4)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	44,618	58,975	15,791	38,284	157,668
Additions	-	-	-	3,936	3,936

As at 31 December 2024	44,618	58,975	15,791	42,220	161,604

Depreciation
As at 1 January 2024	37,657	58,534	13,206	36,548	145,945
Provided during the period	1,740	110	646	2,945	5,441

As at 31 December 2024	39,397	58,644	13,852	39,493	151,386

Net Book Value
As at 31 December 2024	5,221	331	1,939	2,727	10,218

As at 1 January 2024	6,961	441	2,585	1,736	11,723

5. Stocks

	2024	2023
	£	£
Materials	257,171	274,531

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	82,308	89,256
Prepayments and accrued income	2,912	10,779
Other debtors	1,667	1,667

	86,887	101,702

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Southern Sales & Services Limited

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	137,783	116,124
Bank loans and overdrafts	24,593	10,648
Corporation tax	9,674	12,022
Other taxes and social security	4,482	767
VAT	2,116	7,910
Other creditors	271	242
SSS Ltd loan	27,155	36,318
Accruals and deferred income	3,028	3,028
Directors' loan accounts	28,452	-

	237,554	187,059

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	15,185	15,185

9. Secured Creditors

The Company previously had a Factoring Account with Bibby Financial Services Ltd who by way of a First Legal Mortgage dated 9th May 2018 had a fixed and floating charge over the assets of the Company. This charge was satisfied on 6th February 2020.

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

11. Related Party Transactions

SSS Ltd

Mr A and Mrs P Dowell are the shareholders and directors of SSS Ltd

The company was previously provided with an interest free loan from SSS Ltd. The loan is repayable on demand. The amount outstanding at the year end was £27,155 (£36,318 - 2023).

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