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Registered number: 13602148
Southwell Holdings Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13602148
30 September 2023 30 September 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,287 -
Investment Properties 5 685,000 660,566
687,287 660,566
CURRENT ASSETS
Debtors 6 5,509 2,391
Cash at bank and in hand 19,035 6,016
24,544 8,407
Creditors: Amounts Falling Due Within One Year 7 (168,435 ) (146,369 )
NET CURRENT ASSETS (LIABILITIES) (143,891 ) (137,962 )
TOTAL ASSETS LESS CURRENT LIABILITIES 543,396 522,604
Creditors: Amounts Falling Due After More Than One Year 8 (432,899 ) (336,025 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,496 ) (36,100 )
NET ASSETS 85,001 150,479
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair Value Reserve 10 134,187 190,000
Profit and Loss Account (49,286 ) (39,621 )
SHAREHOLDERS' FUNDS 85,001 150,479
Page 1
Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J G Vigne
Director
26 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Southwell Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13602148 . The registered office is Rose Cottage Park Hill, Hook Norton, Banbury, OX15 5LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 30 September 2023.
The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
The valuation of investment properties has been made by the directors on an open market basis.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 October 2022 -
Additions 2,346
As at 30 September 2023 2,346
Depreciation
As at 1 October 2022 -
Provided during the period 59
As at 30 September 2023 59
Net Book Value
As at 30 September 2023 2,287
As at 1 October 2022 -
The valuation of investment properties has been made by the directors on an open market basis as at 30 September 2023. 
5. Investment Property
30 September 2023
£
Fair Value
As at 1 October 2022 660,566
Additions 80,247
Revaluations (55,813)
As at 30 September 2023 685,000
6. Debtors
30 September 2023 30 September 2022
£ £
Due within one year
Prepayments and accrued income 2,164 1,680
Other debtors 3,345 711
5,509 2,391
7. Creditors: Amounts Falling Due Within One Year
30 September 2023 30 September 2022
£ £
Trade creditors 12,720 -
Other loans 22,653 -
Other creditors 3,108 520
Accruals and deferred income 6,186 2,231
Directors' loan accounts 123,768 143,618
168,435 146,369
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2023 30 September 2022
£ £
Bank loans 336,025 336,025
Other loans 96,874 -
432,899 336,025
Bank loans are secured by way of a fixed charge and negative pledge clause over the investment properties.
9. Share Capital
30 September 2023 30 September 2022
Allotted, called up and fully paid £ £
45 Ordinary A shares of £ 1.000 each 45 45
45 Ordinary B shares of £ 1.000 each 45 45
10 Ordinary C shares of £ 1.000 each 10 10
100 100
10. Reserves
Fair Value Reserve
£
As at 1 October 2022 190,000
Movements in fair value reserve (55,813)
As at 30 September 2023 134,187
Page 5