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REGISTERED NUMBER: 08810163 (England and Wales)










SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr R Lowe
Mrs M E Lowe
Mr R J Lowe
Mr C R Lowe
Ms K Makaroff





REGISTERED OFFICE: 36 Church Street
Great Baddow
Chelmsford
Essex
CM2 7HY





REGISTERED NUMBER: 08810163 (England and Wales)





ACCOUNTANTS: Hakim Fry
Chartered Accountants
69-71 East Street
Epsom
Surrey
KT17 1BP

SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,000,000 1,000,000
Investments 6 2,810,284 3,035,954
3,810,284 4,035,954

CURRENT ASSETS
Debtors 7 2,742,139 1,653,477
Cash at bank 1,331,466 2,811,560
4,073,605 4,465,037
CREDITORS
Amounts falling due within one year 8 41,307 40,273
NET CURRENT ASSETS 4,032,298 4,424,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,842,582

8,460,718

PROVISIONS FOR LIABILITIES 9 42,384 95,300
NET ASSETS 7,800,198 8,365,418

CAPITAL AND RESERVES
Called up share capital 87 87
Share premium 4,970,200 4,970,200
Revaluation reserve 10 81,000 81,000
Capital redemption reserve 13 13
Fair value reserve 10 99,692 335,122
Retained earnings 2,649,206 2,978,996
SHAREHOLDERS' FUNDS 7,800,198 8,365,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

BALANCE SHEET - continued
31 MARCH 2023


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 23 October 2023 and were signed on its behalf by:





Mr C R Lowe - Director


SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Southern Counties Roofing Holdings 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 presentation currency of the financial statements is the Pound Sterling (£).


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 revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Southern Counties Roofing Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rents receivable, investment income and profits on sales of investments.

Rents are recognised on a time basis. Income from investments are recognised when entitlement to the income from the underlying assets transfers to the company. Any investment disposals are recognised at exchange of contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property

The company's freehold property is carried at a valuation performed - no depreciation has been applied to the building element in the year under review.

The freehold land element will not be depreciated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

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.

The deferred tax provision in these financial statements relates to the effect of the revaluation of the company's freehold premises.

Fixed asset investments
Listed investments are shown at their fair value at the balance sheet date, this is the market value. Any aggregate surplus arising from changes in market value is transferred to a fair value reserve.If there were an overall deficit against cost on the portfolio this would be charged to the profit and loss reserve.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2022
and 31 March 2023 1,000,000
NET BOOK VALUE
At 31 March 2023 1,000,000
At 31 March 2022 1,000,000

The company's property was valued on an open market basis in June 2016 by Kemsley LLP at £1m. The directors have considered the provisions of FRS102 and classified the property as a fixed asset as the property represents the group's trading subsidiaries operating premises. Further the directors have adopted the "deemed" cost provisions as part of the transition to FRS102 in that they have used this valuation in place of cost, the valuation relating to a date in 2015.

The valuation indicated that the land element included was £330,000.

SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 100 3,035,854 3,035,954
Share of profit/(loss) - 12,921 12,921
Revaluations - (288,346 ) (288,346 )
Dividends received - 49,755 49,755
At 31 March 2023 100 2,810,184 2,810,284
NET BOOK VALUE
At 31 March 2023 100 2,810,184 2,810,284
At 31 March 2022 100 3,035,854 3,035,954

Cost or valuation at 31 March 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2016 - 99,152 99,152
Valuation in 2017 - 178,195 178,195
Valuation in 2018 - 39,852 39,852
Valuation in 2019 - 39,886 39,886
Valuation in 2020 - (187,054 ) (187,054 )
Valuation in 2021 - 265,915 265,915
Valuation in 2022 - 43,602 43,602
Valuation in 2023 - (288,346 ) (288,346 )
Cost 100 2,618,982 2,619,082
100 2,810,184 2,810,284

7. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 200,000 25,050
Other debtors 1,083,183 81,430
1,283,183 106,480

Amounts falling due after more than one year:
Other debtors 1,458,956 1,546,997

Aggregate amounts 2,742,139 1,653,477

SOUTHERN COUNTIES ROOFING HOLDINGS
LIMITED (REGISTERED NUMBER: 08810163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 5,078 5,528
Taxation and social security 32,569 32,830
Other creditors 3,660 1,915
41,307 40,273

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 42,384 95,300

Deferred
tax
£   
Balance at 1 April 2022 95,300
Decrease in provision (52,916 )
Balance at 31 March 2023 42,384

The deferred tax provision relates to the revaluation of the company's freehold premises and fair value reserve. The corporation tax rate applied is 19% (2022: 19%).

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2022 81,000 335,122 416,122
Revaluation - (288,346 ) (288,346 )
Deferred taxation - 52,916 52,916

At 31 March 2023 81,000 99,692 180,692

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors were directors loan of £1,000,000 taken in the year. These were repaid in April 2023.