Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityfalse4true2023-04-01false4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05182692 2023-04-01 2024-03-31 05182692 2022-04-01 2023-03-31 05182692 2024-03-31 05182692 2023-03-31 05182692 c:Director4 2023-04-01 2024-03-31 05182692 d:FreeholdInvestmentProperty 2024-03-31 05182692 d:FreeholdInvestmentProperty 2023-03-31 05182692 d:CurrentFinancialInstruments 2024-03-31 05182692 d:CurrentFinancialInstruments 2023-03-31 05182692 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05182692 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05182692 d:ShareCapital 2024-03-31 05182692 d:ShareCapital 2023-03-31 05182692 d:InvestmentPropertiesRevaluationReserve 2024-03-31 05182692 d:InvestmentPropertiesRevaluationReserve 2023-03-31 05182692 d:RetainedEarningsAccumulatedLosses 2024-03-31 05182692 d:RetainedEarningsAccumulatedLosses 2023-03-31 05182692 c:FRS102 2023-04-01 2024-03-31 05182692 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05182692 c:FullAccounts 2023-04-01 2024-03-31 05182692 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05182692













South Shore One Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
South Shore One Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
4,570,000
4,570,000

  
4,570,000
4,570,000

Current assets
  

Debtors: amounts falling due within one year
 5 
85,659
64,234

Bank and cash balances
  
96
252

  
85,755
64,486

Creditors: amounts falling due within one year
 6 
(1,648,971)
(1,836,211)

Net current liabilities
  
 
 
(1,563,216)
 
 
(1,771,725)

Total assets less current liabilities
  
3,006,784
2,798,275

  

Net assets
  
3,006,784
2,798,275


Capital and reserves
  

Called up share capital 
  
990,000
990,000

Investment property reserve
  
1,290,779
1,290,779

Profit and loss account
  
726,005
517,496

Shareholders' funds
  
3,006,784
2,798,275

1

 
South Shore One Limited

    
Balance sheet (continued)
At 31 March 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 on 24 September 2024.



E R T Yuill
Director

Registered number: 05182692
The notes on pages 3 to 5 form part of these financial statements. 
2

 
South Shore One Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Hub 1 The Innovation Centre, Venture Court, Queens Meadow Business Park, Hartlepool, TS25 5TG.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax.

 
2.3

Taxation

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.

 
2.4

Investment property

Investment property is carried at fair value determined annually 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.

 
2.5

Financial instruments

The company only enters into basic financial instrument 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.

 
2.6

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.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

3

 
South Shore One Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
4,570,000



At 31 March 2024
4,570,000

No formal valuations were made in 2024, the last formal valuation was made in 2022 by Knight Frank, on
an open market value for existing use basis. The directors are satisfied that the carrying value at the year
end was consistent with their assessment of market value.

2024
2023
£
£

Revaluation reserves


At 1 April 2023
1,290,779
1,290,779

At 31 March 2024
1,290,779
1,290,779


If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:


2024
2023
£
£


Historic cost
3,279,221
3,279,221

3,279,221
3,279,221

4

 
South Shore One Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Debtors

2024
2023
£
£


Trade debtors
18,423
26,074

Other debtors
67,236
38,160

85,659
64,234



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,490,201
1,703,206

Corporation tax
44,575
18,705

Other taxation and social security
11,966
13,752

Other creditors
102,229
100,548

1,648,971
1,836,211



7.


Contingent liabilities

The company is party to a multilateral guarantee alongside Mowden Park Estate Company Limited (parent company) to support the borrowings of The YW Investment Company Limited from its bankers. At 31 March 2024 the borrowings to which the guarantee refers totalled £7,650,000 (2023: £7,850,000).


8.


Controlling party

The company is a wholly owned subsidiary of Mowden Park Estate Company Limited, there is no one ultimate controlling party.

 
5