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REGISTERED NUMBER: 05726904 (England and Wales)














SOUTH ROAD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SOUTH ROAD LIMITED (REGISTERED NUMBER: 05726904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SOUTH ROAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S L Booth
S D Booth





SECRETARY: S D Booth





REGISTERED OFFICE: 10 Victoria Avenue
Hayling Island
Hampshire
PO11 9AJ





REGISTERED NUMBER: 05726904 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SOUTH ROAD LIMITED (REGISTERED NUMBER: 05726904)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 337,950 337,950

CURRENT ASSETS
Cash at bank 1,151 12,900

CREDITORS
Amounts falling due within one year 5 328,891 324,778
NET CURRENT LIABILITIES (327,740 ) (311,878 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,210

26,072

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 10,110 25,972
SHAREHOLDERS' FUNDS 10,210 26,072

SOUTH ROAD LIMITED (REGISTERED NUMBER: 05726904)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 20 May 2024 and were signed on its behalf by:





S L Booth - Director


SOUTH ROAD LIMITED (REGISTERED NUMBER: 05726904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

South Road 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.

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 rental income from residential properties held in the company's property portfolio.

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 - not provided

Depreciation is not provided on Freehold Property as all properties are residential properties and are maintained under tenant repairing leases.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SOUTH ROAD LIMITED (REGISTERED NUMBER: 05726904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Freehold
property
£   
COST
At 1 April 2023
and 31 March 2024 337,950
NET BOOK VALUE
At 31 March 2024 337,950
At 31 March 2023 337,950

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 2,530 2,680
Directors' current accounts 325,791 283,235
Accruals 570 38,863
328,891 324,778

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

7. RESERVES
Retained
earnings
£   

At 1 April 2023 25,972
Deficit for the year (15,862 )
At 31 March 2024 10,110

8. ULTIMATE CONTROLLING PARTY

The controlling party is South Road FURBS Trust by virtue of its ownership of 95% of the issued ordinary share capital in the company.