Southvale Homes (Lanark) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC308707 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Southvale Homes (Lanark) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Sloan

T D Morris

REGISTERED OFFICE:

20 Cleghorn Road

Lanark

ML11 7QR

REGISTERED NUMBER:

SC308707 (Scotland)

ACCOUNTANTS:

MRA Business Services Limited

Chartered Accountants

2 & 6 Wellgatehead

Lanark

Lanarkshire

ML11 9AA

FIXED ASSETS

Tangible assets

4

354,909

366,875

CURRENT ASSETS

Stocks

2,350,000

2,260,000

Debtors

5

53,518

54,355

Cash at bank

-

13,815

2,403,518

2,328,170

CREDITORS

Amounts falling due within one year

6

1,328,053

1,279,293

NET CURRENT ASSETS

1,075,465

1,048,877

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,430,374

1,415,752

CREDITORS

Amounts falling due after more than one year

7

160,159

48,872

NET ASSETS

1,270,215

1,366,880

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

1,270,213

1,366,878

SHAREHOLDERS' FUNDS

1,270,215

1,366,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 29 September 2025 and were signed on its behalf by:

S Sloan - Director

1.	STATUTORY INFORMATION

Southvale Homes (Lanark) Limited is a private company, limited by shares , registered in Scotland. 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.

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 etc

-

25% on reducing balance

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.

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 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 October 2023

305,000

119,571

424,571

Additions

4,200

47,632

51,832

Disposals

-

(108,350

)

(108,350

)

At 30 September 2024

309,200

58,853

368,053

DEPRECIATION

At 1 October 2023

-

57,696

Charge for year

-

16,136

Eliminated on disposal

-

(60,688

)

(60,688

)

At 30 September 2024

-

13,144

NET BOOK VALUE

At 30 September 2024

309,200

45,709

354,909

At 30 September 2023

305,000

61,875

366,875

5.

DEBTORS

30.9.24

30.9.23

£

Amounts falling due within one year:

Other debtors

3,518

4,355

Amounts falling due after more than one year:

Other debtors

50,000

Aggregate amounts

53,518

54,355

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

Bank loans and overdrafts

4,475

-

Hire purchase contracts

3,720

2,100

Trade creditors

201,208

183,743

Other creditors

1,118,650

1,093,450

1,328,053

1,279,293

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

Bank loans

134,787

10,417

Hire purchase contracts

25,372

38,455

160,159

48,872