South Wales ADAS Limited 31/03/2025 iXBRL

Company registration number: 15924630

South Wales ADAS Limited

Unaudited filleted financial statements

31 March 2025

South Wales ADAS Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

South Wales ADAS Limited

Directors and other information


Director	Mr Paul Morgan	(Appointed 29 August 2024)


Company number	15924630


Registered office	Viking Way
	Winch Wen Industrial Estate
	Swansea
	SA1 7DA


Business address	Viking Way
	Winch Wen Industrial Estate
	Swansea
	SA1 7DA


Accountants	Morgan Hemp
	103-104 Walter Road
	Swansea
	SA1 5QF




	Bankers	Lloyds Bank

South Wales ADAS Limited

Report to the director on the preparation of the

unaudited statutory financial statements of South Wales ADAS Limited

Period ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Wales ADAS Limited for the period ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the director of South Wales ADAS Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of South Wales ADAS Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Wales ADAS Limited and its director as a body for our work or for this report.

It is your duty to ensure that South Wales ADAS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South Wales ADAS Limited. You consider that South Wales ADAS Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of South Wales ADAS Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Morgan Hemp

Chartered Accountants

103-104 Walter Road

Swansea

SA1 5QF

4 December 2025

South Wales ADAS Limited

Statement of financial position

31 March 2025

		31/03/25
	Note	£	£

Current assets
Debtors	4	10,282
Cash at bank and in hand		47,372
		_______
		57,654
Creditors: amounts falling due
within one year	5	( 46,260)
		_______
Net current assets			11,394
			_______
Total assets less current liabilities			11,394

			_______
Net assets			11,394
			_______

Capital and reserves
Called up share capital			100
Profit and loss account			11,294
			_______
Shareholder funds			11,394
			_______

For the period ending 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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 04 December 2025 , and are signed on behalf of the board by:

Mr Paul Morgan

Director

Company registration number: 15924630

South Wales ADAS Limited

Notes to the financial statements

Period ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Viking Way, Winch Wen Industrial Estate, Swansea, SA1 7DA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

4. Debtors

			31/03/25
			£
	Trade debtors		6,558
	Other debtors		3,724
			_______
			10,282
			_______

5. Creditors: amounts falling due within one year

			31/03/25
			£
	Trade creditors		43,059
	Amounts owed to group undertakings and undertakings in which the company has a participating interest		52
	Social security and other taxes		2,649
	Other creditors		500
			_______
			46,260
			_______

6. Related party transactions

Included in sales is the sum of £45,854 billed to RGM Vehicle Body Repairs Limited and £7,022 to RGM Haverfordwest Limited, companies which are connected to the director.Included in expenses are management fees of £30,000 from RGM Vehicle Body Repairs Ltd and £6,000 from RGM Haverforwest Ltd.Included in debtors is £4,734 owed to RGM Vehicle Body Repairs Ltd and £1,794 owed to RGM Haverfordwest Ltd.Included in creditors is £36,052 owed to RGM Vehicle Body Repairs and £7,200 owed to RGM Haverfordwest Ltd.