Caseware UK (AP4) 2023.0.135 2023.0.135 truefalsetrue2023-02-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04626715 2023-02-01 2024-01-31 04626715 2022-02-01 2023-01-31 04626715 2024-01-31 04626715 2023-01-31 04626715 c:Director1 2023-02-01 2024-01-31 04626715 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 04626715 d:OtherPropertyPlantEquipment 2024-01-31 04626715 d:OtherPropertyPlantEquipment 2023-01-31 04626715 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04626715 d:CurrentFinancialInstruments 2024-01-31 04626715 d:CurrentFinancialInstruments 2023-01-31 04626715 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04626715 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04626715 d:ShareCapital 2024-01-31 04626715 d:ShareCapital 2023-01-31 04626715 d:RevaluationReserve 2024-01-31 04626715 d:RevaluationReserve 2023-01-31 04626715 d:RetainedEarningsAccumulatedLosses 2024-01-31 04626715 d:RetainedEarningsAccumulatedLosses 2023-01-31 04626715 d:OtherDeferredTax 2024-01-31 04626715 d:OtherDeferredTax 2023-01-31 04626715 c:FRS102 2023-02-01 2024-01-31 04626715 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04626715 c:FullAccounts 2023-02-01 2024-01-31 04626715 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04626715 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 04626715








 
Southside Court Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 January 2024







Fletcher & Partners
Chartered Accountants
Salisbury

 
Southside Court Limited
Registered number: 04626715

Balance Sheet
As at 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
861
3,706

Investments
 6 
125,000
125,000

  
125,861
128,706

Current assets
  

Debtors: amounts falling due within one year
 7 
258
229

Cash at bank and in hand
 8 
6,077
5,445

  
6,335
5,674

Creditors: amounts falling due within one year
 9 
(144,625)
(146,042)

Net current liabilities
  
 
 
(138,290)
 
 
(140,368)

Total assets less current liabilities
  
(12,429)
(11,662)

Provisions for liabilities
  

Deferred tax
 10 
(10,763)
(10,763)

  
 
 
(10,763)
 
 
(10,763)

Net liabilities
  
(23,192)
(22,425)


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
69,237
69,237

Profit and loss account
  
(92,431)
(91,664)

  
(23,192)
(22,425)


Page 1

 
Southside Court Limited
Registered number: 04626715

Balance Sheet (continued)
As at 31 January 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R P A Beal
Director

Date: 24 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Southside Court Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

1.


General information

Southside Court Limited is a private company limited by shares, incorporated in England and Wales with the registered number 04626715.  Its registered office is Alexandra House, St John's Street, Salisbury, Wiltshire, SP1 2SB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
Southside Court Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.9

Financial Instruments

The Company only enters into basic financial instument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
Southside Court Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The main judgement the directors have to consider is the value of the investment property.  This is based on the market value of the land.  


4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 February 2023
11,381



At 31 January 2024

11,381



Depreciation


At 1 February 2023
7,675


Charge for the year on owned assets
2,845



At 31 January 2024

10,520



Net book value



At 31 January 2024
861



At 31 January 2023
3,706

Page 5

 
Southside Court Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2023
125,000



At 31 January 2024
125,000




The 2023 and 2024 valuations were made by R P A Beal, director, on an open market value for existing use basis.
The historic cost is £45,000 (2023 £45,000).


7.


Debtors

2024
2023
£
£


Prepayments and accrued income
258
229

258
229



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,077
5,445

6,077
5,445



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,454

Corporation tax
435
-

Other creditors
142,151
142,151

Accruals and deferred income
2,039
2,437

144,625
146,042



10.


Deferred taxation

Page 6

 
Southside Court Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024
 
10.Deferred taxation (continued)




2024


£






At beginning of year
(10,763)



At end of year
(10,763)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value
(10,763)
(10,763)

(10,763)
(10,763)


11.


Related party transactions

The director, Mr R P A Beal has made a loan to the company which is interest free and repayable on demand.  The balance at 31 January 2024 was £142,151 (2023: £142,151).  


Page 7