IRIS Accounts Production v25.4.12.37 05436232 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 05436232 2023-12-31 05436232 2024-12-31 05436232 2024-01-01 2024-12-31 05436232 2022-06-30 05436232 2022-07-01 2023-12-31 05436232 2023-12-31 05436232 ns15:EnglandWales 2024-01-01 2024-12-31 05436232 ns14:PoundSterling 2024-01-01 2024-12-31 05436232 ns10:Director1 2024-01-01 2024-12-31 05436232 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05436232 ns10:SmallEntities 2024-01-01 2024-12-31 05436232 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05436232 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 05436232 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05436232 ns10:FullAccounts 2024-01-01 2024-12-31 05436232 ns10:EntityNoLongerTradingButTradedInPast 2024-01-01 2024-12-31 05436232 ns10:Director2 2024-01-01 2024-12-31 05436232 ns10:RegisteredOffice 2024-01-01 2024-12-31 05436232 ns5:CurrentFinancialInstruments 2024-12-31 05436232 ns5:CurrentFinancialInstruments 2023-12-31 05436232 ns5:Non-currentFinancialInstruments 2024-12-31 05436232 ns5:Non-currentFinancialInstruments 2023-12-31 05436232 ns5:ShareCapital 2024-12-31 05436232 ns5:ShareCapital 2023-12-31 05436232 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 05436232 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 05436232 ns5:PlantMachinery 2024-01-01 2024-12-31 05436232 ns5:PlantMachinery 2023-12-31 05436232 ns5:MotorVehicles 2023-12-31 05436232 ns5:MotorVehicles 2024-01-01 2024-12-31 05436232 ns5:PlantMachinery 2024-12-31 05436232 ns5:MotorVehicles 2024-12-31 05436232 ns5:PlantMachinery 2023-12-31 05436232 ns5:MotorVehicles 2023-12-31 05436232 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05436232 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05436232 ns5:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05436232 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2024-12-31 05436232 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2024-12-31 05436232 ns5:LeasedAssetsHeldAsLessee 2024-12-31 05436232 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:LeasedAssetsHeldAsLessee 2023-12-31 05436232 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2024-12-31 05436232 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2023-12-31

REGISTERED NUMBER: 05436232 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

South West Materials Limited

South West Materials Limited (Registered number: 05436232)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

South West Materials Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | S J Hall

| M F McWilliams

| REGISTERED OFFICE: | Siskin Drive

| Middlemarch Business Park

| Coventry

| West Midlands

| CV3 4FJ

| REGISTERED NUMBER: | 05436232 (England and Wales)

| ACCOUNTANTS: | Thornton Springer LLP

| Chartered Accountants

| 67 Westow Street

| London

| SE19 3RW

South West Materials Limited (Registered number: 05436232)

Balance Sheet

31 December 2024

| 31.12.24 |  | 31.12.23

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 244,889 |  | 1,982,583 |  |

CURRENT ASSETS

Debtors | 6 | 4,004,338 |  | 896,797 |  |

Cash at bank and in hand | 720 |  | 4,817 |  |

4,005,058 |  | 901,614 |  |

CREDITORS

Amounts falling due within one year | 7 | (4,275,915 | ) | (2,711,544 | ) |

NET CURRENT LIABILITIES | (270,857 | ) | (1,809,930 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (25,968 | ) | 172,653 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (38,649 | ) | (133,085 | ) |

NET (LIABILITIES)/ASSETS | (64,617 | ) | 39,568 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | (64,618 | ) | 39,567 |  |

SHAREHOLDERS' FUNDS | (64,617 | ) | 39,568 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

South West Materials Limited (Registered number: 05436232)

Balance Sheet - continued

31 December 2024

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2026 and were signed on its behalf by:

S J Hall - Director

South West Materials Limited (Registered number: 05436232)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| South West Materials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

| Depreciation of plant and machinery

| Depreciation is provided so as to write down the assets to their residual values over their estimated useful lives as set out above. The selection of these residual values and estimated lives requires the exercise of management judgement.

| Turnover

| Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

| The company recognises revenue when:

| The amount of revenue can be reliably measured;

| it is probable that future economic benefits will flow to the entity;

| and specific criteria have been met for each of the company's activities.

| Contract revenue recognition

| Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, value added taxes and other sales taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to 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.

| 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 cost and 15% to 25% straight line basis

South West Materials Limited (Registered number: 05436232)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Taxation

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

| Financial instruments

| The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other debtors, cash and bank balances and intra-group balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at cost and amortised cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

| For financial assets measured at amortised costs, the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated cash flow discounted at the asset's original effective interest rate.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors, bank overdraft, intra-group balances and hire purchase contracts, are initially recognised at transaction price, unless the arrangement constitutes a

| financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

South West Materials Limited (Registered number: 05436232)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Cash and cash equivalents

| Cash and cash equivalents includes cash in hand, deposits held at call with banks, and, if applicable, other short-term highly liquid investments with original maturities of three months or less.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2023 - 2 ) .

5. | TANGIBLE FIXED ASSETS

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 3,705,190 |  | 250,453 |  | 3,955,643 |  |

| Additions | 7,362 |  | - |  | 7,362 |  |

| Disposals | (2,948,799 | ) | (72,754 | ) | (3,021,553 | ) |

| At 31 December 2024 | 763,753 |  | 177,699 |  | 941,452 |  |

| DEPRECIATION

| At 1 January 2024 | 1,807,164 |  | 165,896 |  | 1,973,060 |  |

| Charge for year | 162,257 |  | 34,355 |  | 196,612 |  |

| Eliminated on disposal | (1,433,225 | ) | (39,884 | ) | (1,473,109 | ) |

| At 31 December 2024 | 536,196 |  | 160,367 |  | 696,563 |  |

| NET BOOK VALUE

| At 31 December 2024 | 227,557 |  | 17,332 |  | 244,889 |  |

| At 31 December 2023 | 1,898,026 |  | 84,557 |  | 1,982,583 |  |

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

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 995,094 |  | 121,894 |  | 1,116,988 |  |

| Disposals | (475,775 | ) | (72,754 | ) | (548,529 | ) |

| Transfer to ownership | - |  | (49,140 | ) | (49,140 | ) |

| At 31 December 2024 | 519,319 |  | - |  | 519,319 |  |

| DEPRECIATION

| At 1 January 2024 | 404,227 |  | 55,837 |  | 460,064 |  |

| Charge for year | 130,633 |  | 21,697 |  | 152,330 |  |

| Eliminated on disposal | (166,521 | ) | (39,884 | ) | (206,405 | ) |

| Transfer to ownership | - |  | (37,650 | ) | (37,650 | ) |

| At 31 December 2024 | 368,339 |  | - |  | 368,339 |  |

| NET BOOK VALUE

| At 31 December 2024 | 150,980 |  | - |  | 150,980 |  |

| At 31 December 2023 | 590,867 |  | 66,057 |  | 656,924 |  |

South West Materials Limited (Registered number: 05436232)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | - |  | 87,529 |  |

| Amounts owed by group undertakings | 3,963,503 |  | 19,720 |  |

| Other debtors | - |  | 142,836 |  |

| Amounts owed by related entity | - |  | 613,712 |  |

| Tax | - |  | 16,440 |  |

| Deferred tax asset | 40,835 |  | 16,560 |  |

4,004,338 |  | 896,797 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 94,435 |  | 462,714 |  |

| Trade creditors | - |  | 11,744 |  |

| VAT | 494,022 |  | 708,629 |  |

| Amounts owed to related entity | 1,302,072 |  | - |  |

| Accruals and deferred income | 2,385,386 |  | 1,528,457 |  |

4,275,915 |  | 2,711,544 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 38,649 |  | 133,085 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 133,084 |  | 595,799 |  |

| The bank overdraft is secured via a fixed and floating charge over the assets of the company and the group.

| Hire purchase contracts are secured against the assets to which the loans relate.

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is M F McWilliams.