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Registered number: 01265310
Southfile Properties (Basingstoke) Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Radford & Sergeant Limited
Building 3
Watchmoor Park
Camberley
Surrey
GU15 3YL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01265310
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 500,000 500,000
Investments 5 31,322 29,990
531,322 529,990
CURRENT ASSETS
Debtors 6 29,009 31,674
Cash at bank and in hand 39,987 27,949
68,996 59,623
Creditors: Amounts Falling Due Within One Year 7 (59,444 ) (40,204 )
NET CURRENT ASSETS (LIABILITIES) 9,552 19,419
TOTAL ASSETS LESS CURRENT LIABILITIES 540,874 549,409
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (75,461 ) (75,461 )
NET ASSETS 465,413 473,948
CAPITAL AND RESERVES
Called up share capital 9 300 300
Other reserves 396,677 396,677
Profit and Loss Account 68,436 76,971
SHAREHOLDERS' FUNDS 465,413 473,948
Page 1
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
C W Warner
Director
25 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Southfile Properties (Basingstoke) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01265310 . The registered office is c/o Radford & Sergeant Limited, Building 3 Watchmoor Park, Camberley, Surrey, GU15 3YL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 including Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.3. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their fair value.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
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4. Tangible Assets
Investment Properties
£
Cost
As at 1 May 2023 500,000
As at 30 April 2024 500,000
Net Book Value
As at 30 April 2024 500,000
As at 1 May 2023 500,000
Cost or valuation as at 30 April 2024 represented by:
Investment Properties
£
At cost 500,000
500,000
Cost at 30 April 2024 is represented by: history cost £28,000 in 1992 and an accumulative revaluation surplus of £472,00. 
If investment properties had not been revalued they would have been included in the balance sheet of £28,000 (2023 - £28,000) as of 30 April 2024. 
Investment properties were valued on an fair value basis on 30 April 2024 by the directors. 
5. Investments
Listed
£
Cost
As at 1 May 2023 36,627
Additions 1,124
As at 30 April 2024 37,751
Provision
As at 1 May 2023 6,637
Added in period (208 )
As at 30 April 2024 6,429
Net Book Value
As at 30 April 2024 31,322
As at 1 May 2023 29,990
Investments
As at 30 April 24 listed investments had a cost price of £37,751. Due to additions,disposals and further revaulations the listed investments had an accumulated loss of £6,429, resulting in a balance at the year end of £31,322.
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,875 2,875
Prepayments and accrued income 4,612 7,277
Rent deposit 21,522 21,522
29,009 31,674
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 5,280 6,063
Other creditors. 41,522 31,523
Accruals and deferred income 2,642 2,618
Directors' loan accounts 10,000 -
59,444 40,204
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 75,461 75,461
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 30,000 30,000
Of the above dividend £30,000 (2023: £30,000) was paid to the Directors of the company.
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