SEP RAIL SERVICES LTD - Filleted accounts

Registered number

11322527

SEP RAIL SERVICES LTD

Filleted Accounts

30 June 2026

SEP RAIL SERVICES LTD
Registered number:		11322527
Balance Sheet
as at 30 June 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		1,630,639			1,444,321

Current assets
Stocks		474,715			674,151
Debtors	4	6,412,918			3,353,383
Cash at bank and in hand		(327,602)			(92,069)
		6,560,031			3,935,465

Creditors: amounts falling due within one year	5	(7,290,144)			(4,936,455)

Net current liabilities			(730,113)			(1,000,990)

Total assets less current liabilities			900,526			443,331

Creditors: amounts falling due after more than one year	6		(589,929)			(333,722)

Provisions for liabilities			(75,835)			(75,835)


Net assets			234,762			33,774

Capital and reserves
Called up share capital			50			50
Capital redemption reserve			-			(330,000)
Profit and loss account			234,712			363,724

Shareholders' funds			234,762			33,774

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Rikki Morrow
Director
Approved by the board on 28 September 2026

SEP RAIL SERVICES LTD
Notes to the Accounts
for the year ended 30 June 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant & Machinery			15% Reducing balance
	Fixtures & Fittings			20% Reducing balance
	Motor Vehicles			25% Reducing balance
	Computer equipment			33.3% on Cost

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					66		61


3	Tangible fixed assets
		Equipment, Fixtures & fittings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 July 2025	147,002		1,515,199		467,629		2,129,830
	Additions	-		405,246		97,435		502,681
	Disposals	-		(22,515)		-		(22,515)
	At 30 June 2026	147,002		1,897,930		565,064		2,609,996

	Depreciation
	At 1 July 2025	102,447		444,455		138,607		685,509
	Charge for the year	13,485		197,404		95,506		306,395
	On disposals	-		(12,547)		-		(12,547)
	At 30 June 2026	115,932		629,312		234,113		979,357

	Net book value
	At 30 June 2026	31,070		1,268,618		330,951		1,630,639
	At 30 June 2025	44,555		1,070,744		329,022		1,444,321


4	Debtors					2026		2025
£							£

	Trade debtors					5,635,820		2,683,938
	Prepayments					283,325		33,882
	Other debtors					493,773		635,563
						6,412,918		3,353,383


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					(99,493)		21,236
	Obligations under finance lease and hire purchase contracts					508,550		721,612
	Trade creditors					4,272,495		1,969,445
	Taxation and social security costs					773,852		189,200
	Other creditors					1,834,740		2,034,962
						7,290,144		4,936,455


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					54		9,222
	Obligations under finance lease and hire purchase contracts					589,875		324,500
						589,929		333,722


7	Other information

	SEP RAIL SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
	Commerce House
	1 Exchange Square
	Middlesbrough
	North Yorkshire
	TS1 1DE