South London Auto Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10151882

South London Auto Services Limited

Filleted Unaudited Financial Statements

31 March 2025

South London Auto Services Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

South London Auto Services Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	129,482	7,389

Current assets

Stocks		690	8,585
Debtors	7	48,750	51,564
Cash at bank and in hand		41,750	92,738
		--------	---------
		91,190	152,887

Creditors: amounts falling due within one year	8	133,014	132,888
		---------	---------
Net current (liabilities)/assets		( 41,824)	19,999
		---------	--------
Total assets less current liabilities		87,658	27,388

Creditors: amounts falling due after more than one year	9	205,234	12,121

Provisions	( 24,394)	1,847
	---------	--------
Net (liabilities)/assets	( 93,182)	13,420
	---------	--------

Capital and reserves

Called up share capital	150	150
Profit and loss account	( 93,332)	13,270
	--------	--------
Shareholders (deficit)/funds	( 93,182)	13,420
	--------	--------

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.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

South London Auto Services Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 16 December 2025 , and are signed on behalf of the board by:

Mrs M J M Threadgill	Mr D G Threadgill
Director	Director

Mr L A Smith
Director

Company registration number: 10151882

South London Auto Services Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on fitting to the vehicle.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Patents, trademarks and licences	-	10% straight line

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 estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 9 ).

5. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	59,231	6	59,237
	--------	----	--------
Amortisation
At 1 April 2024 and 31 March 2025	59,231	6	59,237
	--------	----	--------
Carrying amount
At 31 March 2025	–	–	–
	--------	----	--------
At 31 March 2024	–	–	–
	--------	----	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	63,685	16,009	1,497	81,191
Additions	90,542	36,348	3,500	130,390
Disposals	–	–	( 830)	( 830)
	---------	--------	-------	---------
At 31 March 2025	154,227	52,357	4,167	210,751
	---------	--------	-------	---------
Depreciation
At 1 April 2024	58,608	14,206	988	73,802
Charge for the year	5,397	1,635	915	7,947
Disposals	–	–	( 480)	( 480)
	---------	--------	-------	---------
At 31 March 2025	64,005	15,841	1,423	81,269
	---------	--------	-------	---------
Carrying amount
At 31 March 2025	90,222	36,516	2,744	129,482
	---------	--------	-------	---------
At 31 March 2024	5,077	1,803	509	7,389
	---------	--------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	2,816	11,301
Other debtors	45,934	40,263
	--------	--------
	48,750	51,564
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	28,236	19,167
Trade creditors	31,500	71,773
Corporation tax	–	5,184
Social security and other taxes	1,656	5,778
Other creditors	71,622	30,986
	---------	---------
	133,014	132,888
	---------	---------

Bank loans and overdrafts of £9,649 (2024: £8,948) are secured.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	168,056	12,121
Other creditors	37,178	–
	---------	--------
	205,234	12,121
	---------	--------

Bank loans and overdrafts of £90,582 (2024: £nil) are secured.

10. Directors' advances, credits and guarantees

At the year end the company was owed £2,769 (2024: £2,769) by a director. No interest was charged on this loan.

11. Related party transactions

At the year end the company owed a director £45,900 (2024: £nil).