SAS Utility Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

SAS Utility Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07146294 . The registered office is Sas House,, Kingsand, Torpoint, Cornwall, PL10 1NS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years. The remaining written down value is nil.

2.4. Tangible Fixed Assets and Depreciation

In the previous year tangible fixed assets were measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation was provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance

For this period the accounting policy for Plant & Machinery and Motor Vehicles was changed from the historical basis to a revaluation basis. These assets are stated at fair value on the date of the latest revaluation less subsequent accumulated depreciation and any impairment losses, where applicable. Valuations are made on annual basis so that the carrying amount of these asset does not differ materially from its fair value. At the date of revaluation, the accumulated depreciation is eliminated against the gross carrying amount of the asset and the carrying amount is then restated to the revalued amount of the asset.

...CONTINUED

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SAS Utility Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.4. Tangible Fixed Assets and Depreciation - continued

Any revaluation surplus is recognised in other comprehensive income, net of the related tax impact, and accumulated in equity, or in profit or loss if it reverses a downwards revaluation previously recognised in profit or loss. Such reversal is recorded in profit or loss. A revaluation deficit is recognised in other comprehensive income, net of the related tax impact, to the extent that it offsets an existing surplus on the same asset with any excess recognised in profit or loss. The revaluation reserve included in equity in respect of an item of a tangible fixed assets is transferred directly to retained earnings when the asset is derecognised. However, while the asset is being used, the revaluation reserve is transferred to retained earnings for an amount equivalent to the difference between depreciation based on the revalued carrying amount of the asset and depreciation based on the asset’s original cost. Such transfers are not made through profit or loss. At each reporting date tangible fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2024: 12)

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SAS Utility Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	654,020

As at 31 March 2025	654,020

Amortisation
As at 1 April 2024	654,020

As at 31 March 2025	654,020

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	564,691	81,233	645,924

As at 31 March 2025	564,691	81,233	645,924

Net Book Value
As at 31 March 2025	564,691	81,233	645,924

As at 1 April 2024	564,691	81,233	645,924

6. Stocks

	2025	2024
	£	£
Materials	287,335	287,335

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	167,759	15,130
Amounts recoverable on contracts	180,109	959,382
VAT	5,887	-
Directors' loan accounts	-	263,926

	353,755	1,238,438

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SAS Utility Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	274,086	63,511
Bank loans and overdrafts	471,921	274,339
Corporation tax	117,787	129,130
Other taxes and social security	38,693	6,845
VAT	-	45,863
Accruals and deferred income	2,752	6,034
Directors' loan accounts	115,939	4,550

	1,021,178	530,272

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	354,810	604,616

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

11. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2024	221,903	654,706
Loss for the year and total comprehensive income	-	(1,041,933 )

Dividends paid	-	(83,850)

As at 31 March 2025	221,903	(471,077 )

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		645,924		645,924

			645,924		645,924
CURRENT ASSETS
Stocks	6	287,335		287,335
Debtors	7	353,755		1,238,438

		641,090		1,525,773
Creditors: Amounts Falling Due Within One Year	8	(1,021,178 )		(530,272 )

NET CURRENT ASSETS (LIABILITIES)			(380,088 )		995,501

TOTAL ASSETS LESS CURRENT LIABILITIES			265,836		1,641,425

Creditors: Amounts Falling Due After More Than One Year	9		(354,810 )		(604,616 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(160,000 )		(160,000 )

NET (LIABILITIES)/ASSETS			(248,974 )		876,809

CAPITAL AND RESERVES
Called up share capital	10		200		200
Revaluation reserve	11		221,903		221,903
Profit and Loss Account			(471,077 )		654,706

SHAREHOLDERS' FUNDS			(248,974)		876,809