REGISTERED NUMBER: SC590315 (Scotland)

Unaudited Financial Statements for the Year Ended 31st March 2025

for

South West Asbestos Removal Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

Report of the Accountants

6

DIRECTORS:

S A Borthwick

K R Douglas

REGISTERED OFFICE:

7 Braco Square

Shawhead

Dumfries

DG2 9SN

REGISTERED NUMBER:

SC590315 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Tangible assets

4

26,590

33,895

CURRENT ASSETS

Debtors

5

81,047

52,290

Cash at bank

28,289

12,929

109,336

65,219

CREDITORS

Amounts falling due within one year

6

58,174

54,236

NET CURRENT ASSETS

51,162

10,983

TOTAL ASSETS LESS CURRENT LIABILITIES

77,752

44,878

CREDITORS

Amounts falling due after more than one year

7

-

(3,748

)

PROVISIONS FOR LIABILITIES

(6,648

)

(6,440

)

NET ASSETS

71,104

34,690

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

71,102

34,688

SHAREHOLDERS' FUNDS

71,104

34,690

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2025 and were signed on its behalf by:

S A Borthwick - Director

1.	STATUTORY INFORMATION

South West Asbestos Removal Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

64,276

DEPRECIATION

At 1st April 2024

30,381

Charge for year

7,305

At 31st March 2025

37,686

NET BOOK VALUE

At 31st March 2025

26,590

At 31st March 2024

33,895

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

19,990

DEPRECIATION

At 1st April 2024

11,545

Charge for year

2,110

At 31st March 2025

13,655

NET BOOK VALUE

At 31st March 2025

6,335

At 31st March 2024

8,445

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

58,223

19,951

Other debtors

22,824

32,339

81,047

52,290

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

3,748

3,747

Trade creditors

5,734

24,691

Taxation and social security

39,745

11,981

Other creditors

8,947

13,817

58,174

54,236

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

3,748

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

3,748

7,495

The hire purchase creditors are secured on the assets on which the finance is actually outstanding.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £23,000 (2024 - £30,000) were paid to the directors .

Mr SA Borthwick

Director of the company

At 31st March 2025, the company operated a director's loan with Mr SA Borthwick. This sum is repayable on demand and no interest is charged on the sum advanced.

Amount due to Mr SA Borthwick at 31st March 2025 - £366 (2024: £375)

Mr KR Douglas

Director of the company

At 31st March 2025, the company operated a director's loan with Mr KR Douglas. This sum is repayable on demand and no interest is charged on the sum advanced.

Amount due to Mr KR Douglas at 31st March 2025 - £366 (2024: £375)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2025 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

21st August 2025