Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31432023-01-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 1167969 2023-01-01 2023-12-31 1167969 2022-01-01 2022-12-31 1167969 2023-12-31 1167969 2022-12-31 1167969 c:CompanySecretary1 2023-01-01 2023-12-31 1167969 c:Director1 2023-01-01 2023-12-31 1167969 c:RegisteredOffice 2023-01-01 2023-12-31 1167969 d:Buildings 2023-01-01 2023-12-31 1167969 d:Buildings 2023-12-31 1167969 d:Buildings 2022-12-31 1167969 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1167969 d:PlantMachinery 2023-01-01 2023-12-31 1167969 d:PlantMachinery 2023-12-31 1167969 d:PlantMachinery 2022-12-31 1167969 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1167969 d:MotorVehicles 2023-01-01 2023-12-31 1167969 d:MotorVehicles 2023-12-31 1167969 d:MotorVehicles 2022-12-31 1167969 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1167969 d:FurnitureFittings 2023-01-01 2023-12-31 1167969 d:FurnitureFittings 2023-12-31 1167969 d:FurnitureFittings 2022-12-31 1167969 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1167969 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 1167969 d:CurrentFinancialInstruments 2023-12-31 1167969 d:CurrentFinancialInstruments 2022-12-31 1167969 d:Non-currentFinancialInstruments 2023-12-31 1167969 d:Non-currentFinancialInstruments 2022-12-31 1167969 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 1167969 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 1167969 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 1167969 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 1167969 d:ShareCapital 2023-12-31 1167969 d:ShareCapital 2022-12-31 1167969 d:RetainedEarningsAccumulatedLosses 2023-12-31 1167969 d:RetainedEarningsAccumulatedLosses 2022-12-31 1167969 c:FRS102 2023-01-01 2023-12-31 1167969 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 1167969 c:FullAccounts 2023-01-01 2023-12-31 1167969 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 1167969 d:WithinOneYear 2023-12-31 1167969 d:WithinOneYear 2022-12-31 1167969 d:BetweenOneFiveYears 2023-12-31 1167969 d:BetweenOneFiveYears 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 1167969







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SOUTHWARK INVESTMENTS LIMITED






































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SOUTHWARK INVESTMENTS LIMITED
 


 
COMPANY INFORMATION


Director
Ms M R Rolwegan 




Company secretary
Ms M R Rolwegan



Registered number
1167969



Registered office
20 Belgrave Mews West

London

SW1X 8HT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


SOUTHWARK INVESTMENTS LIMITED
REGISTERED NUMBER:1167969



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,662,653
1,666,882

Investments
 5 
4
4

  
1,662,657
1,666,886

Current assets
  

Stocks
  
6,976,766
6,809,035

Debtors: amounts falling due within one year
 6 
651,080
449,526

Cash at bank and in hand
  
419,448
928,790

  
8,047,294
8,187,351

Creditors: amounts falling due within one year
 7 
(116,907)
(144,554)

Net current assets
  
 
 
7,930,387
 
 
8,042,797

Total assets less current liabilities
  
9,593,044
9,709,683

Creditors: amounts falling due after more than one year
 8 
(10,077,331)
(10,115,983)

Provisions for liabilities
  

Deferred tax
  
(280,166)
(280,166)

  
 
 
(280,166)
 
 
(280,166)

Net liabilities
  
(764,453)
(686,466)


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
(814,453)
(736,466)

  
(764,453)
(686,466)


Page 1

 


SOUTHWARK INVESTMENTS LIMITED
REGISTERED NUMBER:1167969


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges her 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 income and retained earnings 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: 




Ms M R Rolwegan
Director

Date: 30 September 2024

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

Page 2

 


SOUTHWARK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Southwark Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 1167969. The registered office and principal place of business is disclosed on the company information page. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.


 
2.2

Going concern

The company has a balance sheet deficit of £764,453 as at 31 December 2023 (2022: £686,466). The company relies on the support of the major shareholder. The Directors are confident that this support will continue, enabling the company to meet its liabilities as they fall due. As a result, it is the directors opinion that the going concern basis of preparation continues to be appropriate.

  
2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and
the revenue can be reliably measured. Revenue is generated by  the promotion of project development and design within the property market. The company also receives income from the rental and sale  of property and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance basis
Motor vehicles
-
25% reducing balance basis
Fixtures, fittings & equipment
-
33% reducing balance basis

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 


SOUTHWARK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.6

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

  
2.7

Stock and work in progress

Properties for resale and developments in progress are included at the lower of cost and net realisable value. Cost comprises the purchase price of land and property, direct costs and appropriate overheads, relating to current and proposed development projects where there is a reasonable degree of certainty that the latter will proceed.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

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 reporting 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 reporting 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 reporting date.

Page 4

 


SOUTHWARK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.10

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).


4.


Tangible fixed assets





Investment properties
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
1,650,000
300,818
41,485
108,514
2,100,817


Disposals
-
-
(10,665)
(83,659)
(94,324)



At 31 December 2023

1,650,000
300,818
30,820
24,855
2,006,493



Depreciation


At 1 January 2023
-
286,845
38,651
108,439
433,935


Charge for the year on owned assets
-
3,493
707
24
4,224


Disposals
-
-
(10,660)
(83,659)
(94,319)



At 31 December 2023

-
290,338
28,698
24,804
343,840



Net book value



At 31 December 2023
1,650,000
10,480
2,122
51
1,662,653



At 31 December 2022
1,650,000
13,973
2,834
75
1,666,882

Page 5

 


SOUTHWARK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
4



At 31 December 2023
4




Southwark Investments Limited owns 100% of the share capital of Southwark Project Management Ltd and 100% of the share capital of Southwark Project Services Ltd. 
The address of the registered offices for both subsidiaries is 13 Melville Street, Edinburgh, Scotland, EH3 7PE.


6.


Debtors

2023
2022
£
£


Trade debtors
190,000
-

Amounts owed by group undertakings
99,861
-

Other debtors
20,929
19,641

Prepayments and accrued income
340,290
429,885

651,080
449,526



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
74,722
108,452

Other creditors
26,588
26,586

Accruals and deferred income
15,597
9,516

116,907
144,554


Page 6

 


SOUTHWARK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
10,077,331
10,115,983

10,077,331
10,115,983


This is an unsecured, interest free loan provided by Mr J G Butchart, who is the controlling shareholder, which is due to be repaid within 2 years.


9.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
13,010
13,010

Later than 1 year and not later than 5 years
21,394
34,404

34,404
47,414


10.


Related party transactions

At the balance sheet date an amount of £24,188 (2022: £26,586) was due to a director. This amount was interest free.

 
Page 7