Registration number: 05335975

Southern Pacific (UK) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Southern Pacific (UK) Limited

Company Information

Director

Mr Luke Power

Registered office

Icey-Tek Cool Boxes Unit 6E Tregoniggie Industrial Estate Falmouth Cornwall TR11 4SN

Accountants

D.J. Reynolds & Co. Chartered Accountants15 Alverton Street Penzance Cornwall TR18 2QP

Southern Pacific (UK) Limited

(Registration number: 05335975)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	15,160	11,041
Current assets
Stocks	6	115,884	69,262
Debtors	7	2,258	979
Cash at bank and in hand		7,042	10,452
		125,184	80,693
Creditors: Amounts falling due within one year	8	(166,028)	(136,822)
Net current liabilities		(40,844)	(56,129)
Total assets less current liabilities		(25,684)	(45,088)
Creditors: Amounts falling due after more than one year	8	(106,201)	(83,798)
Net liabilities		(131,885)	(128,886)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(131,985)	(128,986)
Shareholders' deficit		(131,885)	(128,886)

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 April 2026
 

......................................... Mr Luke Power Director

Southern Pacific (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Icey-Tek Cool Boxes
Unit 6E
Tregoniggie Industrial Estate
Falmouth
Cornwall
TR11 4SN

These financial statements were authorised for issue by the director on 17 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency in these financial statements is GP pounds sterling £.

Going concern

These accounts have been prepared on the going concern basis.

The company incurred a loss for the financial year ending 30 April 2025 and the previous year. As at 30 April 2025 the company had net current liabilties andnet current liabilities. The company is mainly financed by term loans from various financial institutions and a bank overdraft facility. In addition the director provideds finance to the company through his director's loan account. There are no terms of repayment, interest or security agreed on the director's loan account.

These conditions indicate the existence of a material uncertainty that may cast a significant doubt about the company's ability to continue as a going concern. However, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and has indicated his willingness to provide the necessary finance if required to support the company for the year from the date of signing these financial statements and for the forseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Southern Pacific (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website development costs	5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Southern Pacific (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 May 2024	18,097	18,097
At 30 April 2025	18,097	18,097
Amortisation
At 1 May 2024	18,097	18,097
At 30 April 2025	18,097	18,097
Carrying amount
At 30 April 2025	-	-

Southern Pacific (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 May 2024	22,457	22,457
Additions	6,794	6,794
At 30 April 2025	29,251	29,251
Depreciation
At 1 May 2024	11,416	11,416
Charge for the year	2,675	2,675
At 30 April 2025	14,091	14,091
Carrying amount
At 30 April 2025	15,160	15,160
At 30 April 2024	11,041	11,041

6

Stocks

	2025 £	2024 £
Other inventories	115,884	69,262

7

Debtors

	2025 £	2024 £
Trade debtors	1,374	-
Other debtors	884	979
	2,258	979

Southern Pacific (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	55,232	82,078
Trade creditors		73,847	21,218
Taxation and social security		6,949	1,788
Accruals and deferred income		1,877	2,260
Other creditors		28,123	29,478
		166,028	136,822