Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseProperty company33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12777027 2022-08-01 2023-07-31 12777027 2021-08-01 2022-07-31 12777027 2023-07-31 12777027 2022-07-31 12777027 c:Director2 2022-08-01 2023-07-31 12777027 d:FreeholdInvestmentProperty 2023-07-31 12777027 d:FreeholdInvestmentProperty 2022-07-31 12777027 d:CurrentFinancialInstruments 2023-07-31 12777027 d:CurrentFinancialInstruments 2022-07-31 12777027 d:Non-currentFinancialInstruments 2023-07-31 12777027 d:Non-currentFinancialInstruments 2022-07-31 12777027 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12777027 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12777027 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 12777027 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 12777027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 12777027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 12777027 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 12777027 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-07-31 12777027 d:ShareCapital 2023-07-31 12777027 d:ShareCapital 2022-07-31 12777027 d:RetainedEarningsAccumulatedLosses 2023-07-31 12777027 d:RetainedEarningsAccumulatedLosses 2022-07-31 12777027 c:OrdinaryShareClass1 2022-08-01 2023-07-31 12777027 c:OrdinaryShareClass1 2023-07-31 12777027 c:OrdinaryShareClass1 2022-07-31 12777027 c:FRS102 2022-08-01 2023-07-31 12777027 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12777027 c:FullAccounts 2022-08-01 2023-07-31 12777027 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12777027 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12777027














 
SOUTHERN COUNTIES PROPERTY CO LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
SOUTHERN COUNTIES PROPERTY CO LIMITED
REGISTERED NUMBER:12777027

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
930,000
930,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,213
187,327

Cash at bank and in hand
  
14,886
7,103

  
17,099
194,430

Creditors: amounts falling due within one year
 6 
(801,620)
(536,631)

Net current liabilities
  
 
 
(784,521)
 
 
(342,201)

Total assets less current liabilities
  
145,479
587,799

Creditors: amounts falling due after more than one year
 7 
(136,153)
(586,976)

  

Net assets
  
9,326
823


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
9,325
822

  
9,326
823


Page 1

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
REGISTERED NUMBER:12777027
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2023.




R Gilbert
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Southern Counties Property Co Limited is a limited liability company registered in England and Wales. Its registered office address is at Unit 9 Totman Crescent, Brook Road Industrial Estate, Rayleigh, Essex, SS6 7UY.
The principal activity of the Company during the year was that of a rental property. 
The financial statements are presented in £ sterling, which is the functional currency of the Company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding Value Added Tax.
Turnover comprises rent receivable during the year.  Rent receivable is recognised in the period to which it relates. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
930,000



At 31 July 2023
930,000

The 2023 valuations were made by directors, on an open market value for existing use basis.



At 31 July 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
930,000
930,000


5.


Debtors

2023
2022
£
£


Other debtors
-
184,876

Prepayments and accrued income
2,213
2,451

2,213
187,327



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
38,965
6,729

Trade creditors
-
780

Amounts owed to group undertakings
635,575
4,633

Other taxation and social security
3,205
-

Other creditors
123,875
522,289

Accruals and deferred income
-
2,200

801,620
536,631


Page 5

 
SOUTHERN COUNTIES PROPERTY CO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
136,153
586,976



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
38,965
6,729


Amounts falling due 2-5 years

Bank loans
136,153
55,563

Amounts falling due after more than 5 years

Bank loans
-
531,413

175,118
593,705



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



10.


Controlling party

The director regards Transmissions Holdings UK Limited, a company registered in England and Wales, as the ultimate controlling party.

 
Page 6