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REGISTERED NUMBER: 06681279 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Southern Mortgages (Essex) Ltd

Southern Mortgages (Essex) Ltd (Registered number: 06681279)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Southern Mortgages (Essex) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs S P Briscoe





REGISTERED OFFICE: The Old Gasworks
43, Progress Road
Leigh-On-Sea
SS9 5PR





BUSINESS ADDRESS: Suite 2
34 West Street
ROCHFORD
SS4 1AJ





REGISTERED NUMBER: 06681279 (England and Wales)

Southern Mortgages (Essex) Ltd (Registered number: 06681279)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 483 645

CURRENT ASSETS
Debtors 6 22,130 25,313
Cash at bank 1 -
22,131 25,313
CREDITORS
Amounts falling due within one year 7 16,960 17,000
NET CURRENT ASSETS 5,171 8,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,654

8,958

CREDITORS
Amounts falling due after more than one
year

8

(5,180

)

(8,731

)

PROVISIONS FOR LIABILITIES (92 ) (123 )
NET ASSETS 382 104

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 281 3
382 104

Southern Mortgages (Essex) Ltd (Registered number: 06681279)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 28 August 2024 and were signed by:





Mrs S P Briscoe - Director


Southern Mortgages (Essex) Ltd (Registered number: 06681279)

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


1. STATUTORY INFORMATION

Southern Mortgages (Essex) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.


Southern Mortgages (Essex) Ltd (Registered number: 06681279)

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


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,830
DEPRECIATION
At 1 January 2023 1,185
Charge for year 162
At 31 December 2023 1,347
NET BOOK VALUE
At 31 December 2023 483
At 31 December 2022 645

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 22,130 25,313

Other debtors disclosed above consist of tax of £5,550 (2022 - £6,875), director's loans of £15,220 (2022 - £17,078), and other debtors of £1,360 (2022 - £1,360).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,452 11,539
Taxation and social security 4,176 3,890
Other creditors 1,332 1,571
16,960 17,000

Southern Mortgages (Essex) Ltd (Registered number: 06681279)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 5,180 8,731

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 1,640 -

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company continued to provide an interest-bearing loan to its director. Amounts advanced to the director totalled £10,973 (2022 - £22,700), amounts repaid to the company totalled £13,245 (2022 - £27,209) and interest charged on the loan at a rate of 2.8% totalled £414 (2022 - £431). The balance owed to the company at the year end totalled £15,220 (2022 - £17,078) and is repayable on demand.