REGISTERED NUMBER: 03362888 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Southern Mobility Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Booth

Mrs T J Booth

REGISTERED OFFICE:

Unit 9

West Ham Industrial Estate

Grafton Way

Basingstoke

Hampshire

RG22 6HY

REGISTERED NUMBER:

03362888 (England and Wales)

ACCOUNTANTS:

Whiteleys

Chartered Certified Accountants

Sovereign House

155 High Street

Aldershot

Hampshire

GU11 1TT

FIXED ASSETS

Intangible assets

5

3,900

3,450

Tangible assets

6

24,903

38,979

28,803

42,429

CURRENT ASSETS

Stocks

41,486

47,447

Debtors

7

67,765

50,371

Cash at bank

236,353

228,981

345,604

326,799

CREDITORS

Amounts falling due within one year

8

65,573

49,306

NET CURRENT ASSETS

280,031

277,493

TOTAL ASSETS LESS CURRENT LIABILITIES

308,834

319,922

CREDITORS

Amounts falling due after more than one year

9

(6,092

)

(16,515

)

PROVISIONS FOR LIABILITIES

(6,226

)

(9,745

)

NET ASSETS

296,516

293,662

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

296,416

293,562

SHAREHOLDERS' FUNDS

296,516

293,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 5th December 2025 and were signed on its behalf by:

Mrs T J Booth - Director

1.	STATUTORY INFORMATION

Southern Mobility Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Intangible assets

Computer software is stated at cost less accumulated depreciation and any accumulated impairment losses. It is amortised over its estimated life of five years using the straight-line method.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

Tangible fixed assets

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Improvements to property

-

10% on cost over the term of the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33.33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the 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

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1st April 2024

20,069

Additions

1,750

Disposals

(15,319

)

At 31st March 2025

6,500

AMORTISATION

At 1st April 2024

16,619

Amortisation for year

1,300

Eliminated on disposal

(15,319

)

At 31st March 2025

2,600

NET BOOK VALUE

At 31st March 2025

3,900

At 31st March 2024

3,450

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2024

69,936

6,026

25,172

Disposals

(10,414

)

(2,015

)

(6,940

)

At 31st March 2025

59,522

4,011

18,232

DEPRECIATION

At 1st April 2024

48,939

4,945

17,661

Charge for year

5,952

443

3,646

Eliminated on disposal

(9,375

)

(2,015

)

(6,888

)

At 31st March 2025

45,516

3,373

14,419

NET BOOK VALUE

At 31st March 2025

14,006

638

3,813

At 31st March 2024

20,997

1,081

7,511

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

25,990

25,214

152,338

Disposals

-

-

(19,369

)

At 31st March 2025

25,990

25,214

132,969

DEPRECIATION

At 1st April 2024

19,493

22,321

113,359

Charge for year

1,497

1,447

12,985

Eliminated on disposal

-

-

(18,278

)

At 31st March 2025

20,990

23,768

108,066

NET BOOK VALUE

At 31st March 2025

5,000

1,446

24,903

At 31st March 2024

6,497

2,893

38,979

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

67,765

50,371

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,398

10,098

Trade creditors

2,750

2,673

Taxation and social security

28,396

26,867

Other creditors

24,029

9,668

65,573

49,306

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,092

16,515

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

48,209

43,492

Between one and five years

89,617

115,659

137,826

159,151