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REGISTERED NUMBER: 02564828 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Southrope Developments Limited

Southrope Developments Limited (Registered number: 02564828)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Southrope Developments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J T Loveys Jervoise
S F C L Jervoise





SECRETARY: S F C L Jervoise





REGISTERED OFFICE: The Estate Office
Herriard Park
Basingstoke
Hampshire
RG25 2PL





REGISTERED NUMBER: 02564828 (England and Wales)





ACCOUNTANTS: Ahmad York Limited
Chartered Certified Accountants
1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE

Southrope Developments Limited (Registered number: 02564828)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 226,002 226,002
Investment property 5 5,800,000 5,500,000
6,026,002 5,726,002

CURRENT ASSETS
Stocks 512,489 502,407
Debtors 82,392 58,001
Cash at bank 824,813 535,225
1,419,694 1,095,633
CREDITORS
Amounts falling due within one year 519,335 492,283
NET CURRENT ASSETS 900,359 603,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,926,361

6,329,352

CREDITORS
Amounts falling due after more than one
year

6

(245,438

)

(245,438

)

PROVISIONS FOR LIABILITIES (374,608 ) (227,702 )
NET ASSETS 6,306,315 5,856,212

CAPITAL AND RESERVES
Called up share capital 265,002 265,002
Fair value reserve 7 1,561,214 1,408,120
Retained earnings 4,480,099 4,183,090
SHAREHOLDERS' FUNDS 6,306,315 5,856,212

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.

Southrope Developments Limited (Registered number: 02564828)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 September 2024 and were signed on its behalf by:




J T Loveys Jervoise - Director



S F C L Jervoise - Director


Southrope Developments Limited (Registered number: 02564828)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Southrope Developments 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rent receivable, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Southrope Developments Limited (Registered number: 02564828)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 226,002
NET BOOK VALUE
At 31 March 2024 226,002
At 31 March 2023 226,002

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 5,500,000
Revaluations 300,000
At 31 March 2024 5,800,000
NET BOOK VALUE
At 31 March 2024 5,800,000
At 31 March 2023 5,500,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 555,579
Valuation in 2013 190,243
Valuation in 2015 465,000
Valuation in 2017 225,000
Valuation in 2019 200,000
Valuation in 2024 300,000
Cost 3,864,178
5,800,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.3.24 31.3.23
£    £   
Repayable otherwise than by instalments
Other loans > 5 years 245,438 245,438

Southrope Developments Limited (Registered number: 02564828)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RESERVES
Fair
value
reserve
£   
At 1 April 2023 1,408,120
Fair value movement in
respect of investment property 153,094

At 31 March 2024 1,561,214

8. RELATED PARTY DISCLOSURES

As at 31 March 2024 a balance of £245,438 (2022: £245,438) was due to a director which has not been concluded under normal market conditions.