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COMPANY REGISTRATION NUMBER: 04317020
Southlands Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Southlands Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Current assets
Debtors
5
39
169
Cash at bank and in hand
2,920
3,936
-------
-------
2,959
4,105
Creditors: amounts falling due within one year
6
26,147
26,147
--------
--------
Net current liabilities
23,188
22,042
--------
--------
Total assets less current liabilities
( 23,188)
( 22,042)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 23,288)
( 22,142)
--------
--------
Shareholders funds
( 23,188)
( 22,042)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Southlands Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 12 November 2024 , and are signed on behalf of the board by:
Mr P R Ward
Director
Company registration number: 04317020
Southlands Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private limited company, limited by shares. The address of the registered office is Fulford Lodge, 1 Heslington Lane, Fulford, York, YO10 4HW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standards applicable in the UK and Republic of Ireland.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.
(b) Revenue recognition
Income from rent received is recognised in accordance with terms and conditions of the relevant lease agreement.
(c) Revenue recognition
Rental income is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to 4 (2023: 4).
5. Debtors
2024
2023
£
£
Other debtors
39
169
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
26,147
26,147
--------
--------
7. Related party transactions
During the year the directors made available loans to the company. The loans are interest free and repayable on demand. At the year end date the balance due to the directors totalled £ 26,147 (2023 - £ 26,147 ).