| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
8 |
|
|
11 |
| Current assets |
|
1,549 |
|
|
4,544 |
|
| Prepayments and accrued income |
|
730 |
|
|
1,146 |
|
| Creditors: amount falling due within one year |
|
(9,699) |
|
|
(8,423) |
|
|
Net current assets
|
|
|
(7,420)
|
|
|
(2,733)
|
|
Total assets less current liabilities
|
|
|
(7,412) |
|
|
(2,722) |
|
Net assets
|
|
|
(7,412) |
|
|
(2,722) |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(7,412) |
|
|
(2,722) |
| |
NOTES TO THE ACCOUNTS
General Information
Southwood AFS Limited is a private company, limited by shares, registered in England and Wales, registration number 08966880, registration address 14 Nellington Court, Fremlin Close, TUNBRIDGE WELLS, Kent, TN4 8SZ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to subordinate his debt in favour of other creditors and to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services net of VAT supplied by the company..
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Straight Line
|
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
536 |
|
536 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
536 |
|
536 |
| Depreciation |
| At 01 April 2024 |
525 |
|
525 |
| Charge for year |
3 |
|
3 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
528 |
|
528 |
| Net book values |
| Closing balance as at 31 March 2025 |
8 |
|
8 |
| Opening balance as at 01 April 2024 |
11 |
|
11 |
|
| 3. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 30 September 2025 and were signed by: --------------------------------
Ian Wylie
Director |
1
|