Company registration number 5747263 (England and Wales)
SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
209,325
188,064
Current assets
Stocks
26,962
-
Debtors
4
95,888
123,964
Cash at bank and in hand
111,618
230,126
234,468
354,090
Creditors: amounts falling due within one year
5
(62,076)
(134,828)
Net current assets
172,392
219,262
Total assets less current liabilities
381,717
407,326
Creditors: amounts falling due after more than one year
6
(62,135)
(67,959)
Provisions for liabilities
(22,642)
(16,322)
Net assets
296,940
323,045
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
296,938
323,043
Total equity
296,940
323,045

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 18 November 2025
Mr C Adams
Director
Company registration number 5747263 (England and Wales)
SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

South Wales Maintenance and Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discounts.

Revenue from the restoration of electrical equipment is recognised upon completion when, and to the extent that, the company obtains the right to consideration in exchange for services provided.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% On cost
Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Reducing balance
Computers
20% Reducing balance
Motor vehicles
20% Reducing balance
1.4
Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and direct overheads.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
8
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 29 February 2024
125,988
60,549
1,604
6,315
160,236
354,692
Additions
-
0
9,500
-
0
293
38,800
48,593
At 28 February 2025
125,988
70,049
1,604
6,608
199,036
403,285
Depreciation and impairment
At 29 February 2024
13,655
31,403
1,525
2,750
117,295
166,628
Depreciation charged in the year
2,520
7,728
16
719
16,349
27,332
At 28 February 2025
16,175
39,131
1,541
3,469
133,644
193,960
Carrying amount
At 28 February 2025
109,813
30,918
63
3,139
65,392
209,325
At 28 February 2024
112,333
29,146
79
3,565
42,941
188,064
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
93,382
119,542
Other debtors
2,506
4,422
95,888
123,964
SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,324
12,324
Trade creditors
14,881
18,558
Amounts owed to group undertakings
1,142
-
0
Taxation and social security
30,573
73,906
Other creditors
9,156
30,040
62,076
134,828

Included in bank loans and overdrafts falling due within one year is £6,324 (2024 - £6,324) secured against the freehold property.

Included in other creditors falling due within one year are obligations under finance leases totalling £5,000 (2024 - £Nil) secured against the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
51,641
67,959
Other creditors
10,494
-
0
62,135
67,959
Creditors which fall due after five years are payable as follows:
Payable by instalments
23,539
29,863

Included in bank loans and overdrafts falling due after more than one year is £51,641 (2024 - £55,959) secured against the freehold property.

Included in other creditors falling due after more than one year are obligations under finance leases totalling £10,494 (2024 - £Nil) secured against the assets to which they relate.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
8
Related party transactions

During the year, the company was loaned money by SWMAE Holdings Limited a company with a common director. At the year end, the amount owed to SWMAE Holdings Limited was £1,142

SOUTH WALES MAINTENANCE AND ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
9
Directors' transactions

Dividends totalling £0 (2024 - £55,000) were paid in the year in respect of shares held by the company's director.

Advances or credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors loan
-
871
8,914
(9,785)
-
871
8,914
(9,785)
-
10
Parent company

The parent company is SWMAE Holdings Limited, whose registered office is Bradbury house, Mission court, Newport NP20 2DW

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