Registered Number 09942953

SOUTH WEST ACCOUNTANCY LIMITED

Micro-entity Accounts

31 March 2025

SOUTH WEST ACCOUNTANCY LIMITED Registered Number 09942953

Micro-entity Balance Sheet as at 31 March 2025

Notes 2025 2024
£ £
Fixed Assets
161,089
174,360
Current Assets
51,551
38,787
Creditors: amounts falling due within one year
(96,392)
(73,447)
Net current assets (liabilities)
(44,841)
(34,660)
Total assets less current liabilities
116,248
139,700
Total net assets (liabilities)
116,248
139,700
Capital and reserves
116,248
139,700
  • For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 December 2025

And signed on their behalf by:
Rashid Mahmood, Director

SOUTH WEST ACCOUNTANCY LIMITED Registered Number 09942953

Notes to the Micro-entity Accounts for the period ended 31 March 2025

1Employees
2025 2024
Average number of employees during the period 2 2

2Accounting Policies

Basis of measurement and preparation of accounts
SOUTH WEST ACCOUNTANCY LIMITED
NOTES TO THE MICRO - ENTITY ACCOUNTS
YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Fixed assets
All fixed assets are initially recorded at cost.

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

Equipment - Over 6 Years

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.