REGISTERED NUMBER: 01550378 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

South West (Contractors) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A D Wallace

L R Williams

Ms E A Watkins

REGISTERED OFFICE:

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

REGISTERED NUMBER:

01550378 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

BANKERS:

National Westminster Bank Plc

PO Box 238

Corn Street

Bristol

BS99 7UG

FIXED ASSETS

Property, plant and equipment

4

59,428

82,007

CURRENT ASSETS

Inventories

40,861

202,868

Debtors

5

10,861

58,500

Cash at bank and in hand

57,866

512

109,588

261,880

CREDITORS

Amounts falling due within one year

6

716,623

500,138

NET CURRENT LIABILITIES

(607,035

)

(238,258

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(547,607

)

(156,251

)

CREDITORS

Amounts falling due after more than one year

7

285,943

270,896

NET LIABILITIES

(833,550

)

(427,147

)

CAPITAL AND RESERVES

Called up share capital

39

39

Capital redemption reserve

62

62

Retained earnings

(833,651

)

(427,248

)

SHAREHOLDERS' FUNDS

(833,550

)

(427,147

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

A D Wallace - Director

1.	STATUTORY INFORMATION

South West (Contractors) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis. In making this assessment, the directors have reviewed the company's budget and cash flow forecast for the next twelve months, considering potential impacts of economic conditions.

Turnover

Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom.

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

-

15% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 agreements

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 14 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

13,276

18,882

163,142

14,692

209,992

Disposals

-

-

(15,666

)

-

(15,666

)

At 31 March 2025

13,276

18,882

147,476

14,692

194,326

DEPRECIATION

At 1 April 2024

9,166

10,156

94,502

14,161

127,985

Charge for year

662

2,265

16,507

531

19,965

Eliminated on disposal

-

-

(13,052

)

-

(13,052

)

At 31 March 2025

9,828

12,421

97,957

14,692

134,898

NET BOOK VALUE

At 31 March 2025

3,448

6,461

49,519

-

59,428

At 31 March 2024

4,110

8,726

68,640

531

82,007

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

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

72,601

DEPRECIATION

At 1 April 2024

20,798

Charge for year

13,516

At 31 March 2025

34,314

NET BOOK VALUE

At 31 March 2025

38,287

At 31 March 2024

51,803

5.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

1,498

11,157

Prepayments and accrued income

350

17,154

1,848

28,311

Amounts falling due after more than one year:

Amounts recoverable on contract

9,013

30,189

Aggregate amounts

10,861

58,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

18,269

Other loans

-

7,250

Hire purchase contracts

9,063

9,063

Trade creditors

235,010

112,461

Social security and other taxes

189,733

188,815

VAT

122,525

30,480

Other creditors

58,072

24,748

Directors' current accounts

76,249

49,329

Accrued expenses

15,971

59,723

716,623

500,138

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

7,681

11,667

Other loans - 1-2 years

236,096

208,000

Hire purchase contracts

42,166

51,229

285,943

270,896

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

51,229

60,292

The hire purchase liabilities are secured on the assets themselves.

9.	RELATED PARTY DISCLOSURES

A D Wallace

Director

2025

20234

Capital introduced

9,620

3,250

At the year end, the company owed the director £28,949 ( 2024 - £19,329).

M Tinline

2025

2024

Director

Capital introduced

-

17,000

At the year end, the company owed the director £17,000 (2024 - £17,000.

L Watkins

2025

2024

Director

Capital introduced

17,300

-

At the year end, the company owed the director £30,300 (2024 - £13,000).

South West (Contractors) Limited Self Administered Pension Scheme

The company incurred rent and service charges during the year of £15,000 (2024: £15,000).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is A D Wallace.