REGISTERED NUMBER: 08284223 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

422 South Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C W Howarth

Mr D W Corfield

Ms E A Elkington

REGISTERED OFFICE:

Brunel House

11 The Promenade

Clifton Down

Bristol

BS8 3NG

REGISTERED NUMBER:

08284223 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Chartered Accountants (ICAEW)

Brunel House

11 The Promenade

Clifton Down

Bristol

BS8 3NG

FIXED ASSETS

Tangible assets

4

27,599

28,859

CURRENT ASSETS

Stocks

47,013

27,099

Debtors

5

402,103

319,757

Cash at bank

529,350

901,291

978,466

1,248,147

CREDITORS

Amounts falling due within one year

6

87,821

428,243

NET CURRENT ASSETS

890,645

819,904

TOTAL ASSETS LESS CURRENT LIABILITIES

918,244

848,763

PROVISIONS FOR LIABILITIES

7

5,244

-

NET ASSETS

913,000

848,763

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

9

903,000

838,763

SHAREHOLDERS' FUNDS

913,000

848,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 17 September 2025 and were signed on its behalf by:

Mr C W Howarth - Director

Mr D W Corfield - Director

Ms E A Elkington - Director

1.	STATUTORY INFORMATION

422 South 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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

straight line over useful life

Fixtures and fittings

-

15% on reducing balance basis

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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 12 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

190,505

9,805

200,310

Additions

13,168

1,247

14,415

At 31 December 2024

203,673

11,052

214,725

DEPRECIATION

At 1 January 2024

164,881

6,570

171,451

Charge for year

15,050

625

15,675

At 31 December 2024

179,931

7,195

187,126

NET BOOK VALUE

At 31 December 2024

23,742

3,857

27,599

At 31 December 2023

25,624

3,235

28,859

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Valuation in 2012

14,474

-

14,474

Cost

189,199

11,052

200,251

203,673

11,052

214,725

If plant and machinery had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

176,031

176,031

Plant and machinery were valued on a market value basis on 1 December 2012 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

367,480

268,742

Other debtors

1,635

1,411

Tax

21,951

-

Deferred tax asset

-

36,442

Prepayments

11,037

13,162

402,103

319,757

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,553

-

Trade creditors

4,004

36,455

Tax

-

49,811

Social security and other taxes

27,796

92,374

Other creditors

3,032

2,403

Deferred income

46,370

60,310

Accrued expenses

5,066

186,890

87,821

428,243

7.	PROVISIONS FOR LIABILITIES

2024

£

Deferred tax

Accelerated capital allowances

5,244

Deferred

tax

£

Balance at 1 January 2024

(36,442

)

Credit to Income Statement during year

(1,971

)

Short term timing differences

43,657

Balance at 31 December 2024

5,244

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary Shares

£1

10,000

10,000

9.

RESERVES

Retained

earnings

£

At 1 January 2024

838,763

Profit for the year

64,237

At 31 December 2024

903,000