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REGISTERED NUMBER: 02719948 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

South by East Property Investments Ltd

South by East Property Investments Ltd (Registered number: 02719948)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


South by East Property Investments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K W Langmead
S Langmead





SECRETARY: R A Sadler





REGISTERED OFFICE: 30B Southgate
Chichester
West Sussex
PO19 1DP





REGISTERED NUMBER: 02719948 (England and Wales)





ACCOUNTANTS: Robert Sadler & Company Ltd
Chartered Accountants
30B Southgate
Chichester
West Sussex
PO19 1DP

South by East Property Investments Ltd (Registered number: 02719948)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,925 1,869
Investment property 5 1,015,178 210,700
1,017,103 212,569

CURRENT ASSETS
Stocks 2,046,489 2,093,391
Debtors 132,648 20,237
Cash at bank 5,185 81,554
2,184,322 2,195,182
CREDITORS
Amounts falling due within one year 2,911,984 2,145,775
NET CURRENT (LIABILITIES)/ASSETS (727,662 ) 49,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,441

261,976

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 289,341 261,876
SHAREHOLDERS' FUNDS 289,441 261,976

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.

South by East Property Investments Ltd (Registered number: 02719948)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 January 2024 and were signed on its behalf by:





S Langmead - Director


South by East Property Investments Ltd (Registered number: 02719948)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

South by East Property Investments Ltd 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
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income receivable from property development.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

South by East Property Investments Ltd (Registered number: 02719948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 6,242
Additions 668
At 31 March 2023 6,910
DEPRECIATION
At 1 April 2022 4,374
Charge for year 611
At 31 March 2023 4,985
NET BOOK VALUE
At 31 March 2023 1,925
At 31 March 2022 1,868

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 210,700
Additions 804,478
At 31 March 2023 1,015,178
NET BOOK VALUE
At 31 March 2023 1,015,178
At 31 March 2022 210,700

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Keith Langmead Ltd 1,214,500 500,000

The loan from K.Langmead Ltd is secured by fixed and floating charges over the company's assets.

South by East Property Investments Ltd (Registered number: 02719948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. RELATED PARTY DISCLOSURES

Transactions with undertakings in which the directors have material interest were as follows:-
Loan Interest Debtor Creditor
Charged as at 31/3/2023
£ £ £ £


Keith Langmead Ltd 15,000 1,214,500

Keith Langmead is a director and shareholder in Keith Langmead Ltd and is a director of South by East Property Investments Ltd.