Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C W D Macey 12/05/2008 J P S Prichard 15/10/2003 12 August 2024 The principal activity of the Company during the financial year was rental of investment properties. 00527021 2024-03-31 00527021 bus:Director1 2024-03-31 00527021 bus:Director2 2024-03-31 00527021 2023-03-31 00527021 core:CurrentFinancialInstruments 2024-03-31 00527021 core:CurrentFinancialInstruments 2023-03-31 00527021 core:Non-currentFinancialInstruments 2024-03-31 00527021 core:Non-currentFinancialInstruments 2023-03-31 00527021 core:ShareCapital 2024-03-31 00527021 core:ShareCapital 2023-03-31 00527021 core:RetainedEarningsAccumulatedLosses 2024-03-31 00527021 core:RetainedEarningsAccumulatedLosses 2023-03-31 00527021 2022-03-31 00527021 2023-04-01 2024-03-31 00527021 bus:FilletedAccounts 2023-04-01 2024-03-31 00527021 bus:SmallEntities 2023-04-01 2024-03-31 00527021 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00527021 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00527021 bus:Director1 2023-04-01 2024-03-31 00527021 bus:Director2 2023-04-01 2024-03-31 00527021 2022-04-01 2023-03-31 00527021 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 00527021 (England and Wales)

SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

BALANCE SHEET

As at 31 March 2024
SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,049,000 1,049,000
1,049,000 1,049,000
Current assets
Debtors 4 12,950 5,619
Cash at bank and in hand 17,739 15,200
30,689 20,819
Creditors: amounts falling due within one year 5 ( 60,082) ( 48,396)
Net current liabilities (29,393) (27,577)
Total assets less current liabilities 1,019,607 1,021,423
Creditors: amounts falling due after more than one year 6 ( 109,132) ( 124,132)
Provision for liabilities 7 ( 231,964) ( 231,964)
Net assets 678,511 665,327
Capital and reserves
Called-up share capital 252 252
Profit and loss account 678,259 665,075
Total shareholders' funds 678,511 665,327

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Southbourne Property Holding Company Limited (registered number: 00527021) were approved and authorised for issue by the Board of Directors on 12 August 2024. They were signed on its behalf by:

C W D Macey
Director
SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SOUTHBOURNE PROPERTY HOLDING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Southbourne Property Holding Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, United Kingdom. The principal place of business is Wood End, Gods Blessing Lane, Holt, Wimborne, Dorset, BH21 7DE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated as rent received, net of VAT and is recognised when the significant risk and rewards are considered to have been transferred to the tennant.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted. The deferred tax charge has been updated to reflect the revaluation of the properties and also the increase in Corporation Tax rates as at 1 April 2023 to 25%.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 1,049,000
As at 31 March 2024 1,049,000

Valuation

The directors have valued the properties as at 31 March 2023 at £1,049,000, being consistent with an independent valuation obtained on the properties. The directors are of the opinion that the investment properties are value at fair value.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 67,814 67,814

4. Debtors

2024 2023
£ £
Trade debtors 0 32
Other debtors 12,950 5,587
12,950 5,619

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 835 0
Amounts owed to Group undertakings 20,000 20,000
Deferred income 4,631 4,382
Other taxation and social security 1,158 3,282
Other creditors 33,458 20,732
60,082 48,396

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 100,000 100,000
Amounts owed to Group undertakings 9,132 24,132
109,132 124,132

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 231,964) ( 130,705)
Charged to the Statement of Income and Retained Earnings 0 ( 101,259)
At the end of financial year ( 231,964) ( 231,964)

8. Control

The company is jointly controlled by CWD Macey and JA Trafford as Trustees of the VT Insley- Fox Will Trust and Mrs JPS Prichard.

9. Reserves

2024 2023
£ £
Distributable reserves (70,963) (84,147)
Non-distributable reserves 749,222 749,222
678,259 665,075

Included in the profit and loss reserves is £749,222 (2023 - £749,222) of non-distributable reserves.