SPC Southampton Limited |
|
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SPC Southampton Limited for the year ended 31 May 2023 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SPC Southampton Limited for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance |
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF. |
|
Cochrane & Co Accountants Limited |
Chartered Accountants |
38 Kings Road |
Lee-on-the-Solent |
Hampshire |
PO13 9NU |
|
23 February 2024 |
|
SPC Southampton Limited |
Registered number: |
05842120 |
Balance Sheet |
as at 31 May 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
1,569,611 |
|
|
1,560,960 |
|
Current assets |
Debtors |
4 |
|
81,147 |
|
|
84,656 |
Cash at bank and in hand |
|
|
2 |
|
|
2 |
|
|
|
81,149 |
|
|
84,658 |
|
Creditors: amounts falling due within one year |
5 |
|
(1,319,820) |
|
|
(1,190,133) |
|
Net current liabilities |
|
|
|
(1,238,671) |
|
|
(1,105,475) |
|
Total assets less current liabilities |
|
|
|
330,940 |
|
|
455,485 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(318,058) |
|
|
(408,652) |
|
|
|
Net assets |
|
|
|
12,882 |
|
|
46,833 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
200 |
|
|
200 |
Profit and loss account |
|
|
|
12,682 |
|
|
46,633 |
|
Shareholders' funds |
|
|
|
12,882 |
|
|
46,833 |
|
|
|
|
|
|
|
|
The director is 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 director acknowledges his 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 S P Calvert |
Director |
Approved by the board on 21 February 2024 |
|
SPC Southampton Limited |
Notes to the Accounts |
for the year ended 31 May 2023 |
|
|
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). |
|
|
Investments |
|
Investments in subsidiaries are measured at cost less any accumulated impairment losses. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Consolidation |
|
In the opinion of the director, the company and it's subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
|
|
Going concern |
|
Despite the negative net current liabilities, the director has prepared the accounts on a going concern basis. The significant creditor is a subsidiary company, which is under the control of the director. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 June 2022 |
1,560,960 |
|
Additions |
8,651 |
|
|
At 31 May 2023 |
1,569,611 |
|
At the year end, the company has three subsidiaries; Northwood Southampton Limited, incorporated in UK, 100% owned, registered office: 56 Castle Street, Salisbury, SP1 3TS Northwood (Salisbury) Limited, incorporated in UK, 100% owned, registered office: 1 Bellevue Road, Southampton, SO15 2AW. Bassets Property Services Limited, incorporated in UK, 100% owned, registered office: Cheviot House, 69-73 Castle Street, Salisbury, SP1 3SP. |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
|
66,916 |
|
Other debtors |
81,147 |
|
17,740 |
|
|
|
|
|
|
81,147 |
|
84,656 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
96,800 |
|
92,400 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,090,548 |
|
786,191 |
|
Other creditors |
132,472 |
|
311,542 |
|
|
|
|
|
|
1,319,820 |
|
1,190,133 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
318,058 |
|
408,652 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
- |
|
39,052 |
|
|
|
|
|
|
|
|
|
|
8 |
Controlling party |
|
|
The company was under the control of S P Calvert during the year. |
|
|
9 |
Other information |
|
|
SPC Southampton Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Ridgemount House |
|
Romsey Road |
|
Ower |
|
Hampshire |
|
SO51 6AE |