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REGISTERED NUMBER: 13058050 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

EDWARD PROPERTIES (SOUTHERN) LIMITED

EDWARD PROPERTIES (SOUTHERN) LIMITED (REGISTERED NUMBER: 13058050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance sheet 1

Notes to the financial statements 2


EDWARD PROPERTIES (SOUTHERN) LIMITED (REGISTERED NUMBER: 13058050)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 1,309,035 1,309,035

Current assets
Cash at bank 5,592 51,123

Creditors
Amounts falling due within one year 5 460,794 468,003
Net current liabilities (455,202 ) (416,880 )
Total assets less current liabilities 853,833 892,155

Creditors
Amounts falling due after more than one year 6 865,901 890,247
Net (liabilities)/assets (12,068 ) 1,908

Capital and reserves
Called up share capital 8 1 1
Retained earnings (12,069 ) 1,907
Shareholders' funds (12,068 ) 1,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:



Mr G Brooks - Director



Mr S Seyed-Rezai - Director


EDWARD PROPERTIES (SOUTHERN) LIMITED (REGISTERED NUMBER: 13058050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. Statutory information

Edward Properties (Southern) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 13058050. The registered office address is 7&8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 404 Ringwood Road, Ferndown, Dorset, BH22 9AU.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has made a loss during the year and has a deficiency of assets at the year end of £12,068. The directors have confirmed their support of the company over the next 12 months, in order that it can meet its day to day working capital requirements.

Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company is a wholly owned subsidiary within a small-sized group. The group has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover represents rental income received from operating leases, which is recognised on a straight line basis over the term of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

EDWARD PROPERTIES (SOUTHERN) LIMITED (REGISTERED NUMBER: 13058050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. Investment property
Total
£   
Fair value
At 1 March 2023
and 29 February 2024 1,309,035
Net book value
At 29 February 2024 1,309,035
At 28 February 2023 1,309,035

Investment properties were valued on an open market basis on 29 February 2024 by the directors.

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 24,878 24,158
Amounts owed to group undertakings 427,888 441,888
Tax 6,409 518
Accruals and deferred income 1,619 1,439
460,794 468,003

6. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 25,418 24,878
Bank loans - 2-5 years 77,873 77,873
Bank loans more 5 yr by instal 762,610 787,496
865,901 890,247

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 762,610 787,496

7. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 890,779 914,405

The Aldermore Bank loans are secured by legal charges over the freehold of the following properties:
27 Buckthorn Lane, Wimborne, Dorset dated 23 July 2021,
29 Buckthorn Lane, Wimborne, Dorset dated 6 August 2021,
17 Mosaic Mews, Blandford St. Mary, Dorset dated 29 April 2022, and
19 Mosaic Mews, Blandford St. Mary, Dorset dated 29 April 2022.

EDWARD PROPERTIES (SOUTHERN) LIMITED (REGISTERED NUMBER: 13058050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

9. Ultimate controlling party

The company is ultimately controlled by one of the directors, Mr S Seyed-Rezai, by virtue of his 60% holding in the voting share capital of the the parent company, Edward Holdings (UK) Limited.