IRIS Accounts Production v24.3.2.46 11954960 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119549602023-04-30119549602024-04-30119549602023-05-012024-04-30119549602022-04-30119549602022-05-012023-04-30119549602023-04-3011954960ns15:EnglandWales2023-05-012024-04-3011954960ns14:PoundSterling2023-05-012024-04-3011954960ns10:Director12023-05-012024-04-3011954960ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011954960ns10:SmallEntities2023-05-012024-04-3011954960ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3011954960ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3011954960ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3011954960ns10:FullAccounts2023-05-012024-04-3011954960ns10:OrdinaryShareClass12023-05-012024-04-3011954960ns10:Director22023-05-012024-04-3011954960ns10:CompanySecretary12023-05-012024-04-3011954960ns10:RegisteredOffice2023-05-012024-04-3011954960ns5:CurrentFinancialInstruments2024-04-3011954960ns5:CurrentFinancialInstruments2023-04-3011954960ns5:Non-currentFinancialInstruments2024-04-3011954960ns5:Non-currentFinancialInstruments2023-04-3011954960ns5:ShareCapital2024-04-3011954960ns5:ShareCapital2023-04-3011954960ns5:RetainedEarningsAccumulatedLosses2024-04-3011954960ns5:RetainedEarningsAccumulatedLosses2023-04-3011954960ns5:Secured2024-04-3011954960ns5:Secured2023-04-3011954960ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 11954960 (England and Wales)















SOUTHS PROPERTIES (LINCS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






SOUTHS PROPERTIES (LINCS) LIMITED (REGISTERED NUMBER: 11954960)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4

Accountants' Report 5

SOUTHS PROPERTIES (LINCS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R C South
Mrs S A South





SECRETARY: Mrs S A South





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Priory Farm
Thorpe Tilney
Lincolnshire
LN4 3SL





REGISTERED NUMBER: 11954960 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

SOUTHS PROPERTIES (LINCS) LIMITED (REGISTERED NUMBER: 11954960)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 161,470 161,470

CURRENT ASSETS
Cash at bank 255 161

CREDITORS
Amounts falling due within one year 5 61,615 59,360
NET CURRENT LIABILITIES (61,360 ) (59,199 )
TOTAL ASSETS LESS CURRENT LIABILITIES 100,110 102,271

CREDITORS
Amounts falling due after more than one year 6 98,438 102,381
NET ASSETS/(LIABILITIES) 1,672 (110 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,572 (210 )
SHAREHOLDERS' FUNDS 1,672 (110 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:





R C South - Director


SOUTHS PROPERTIES (LINCS) LIMITED (REGISTERED NUMBER: 11954960)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Souths Properties (Lincs) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 161,470
NET BOOK VALUE
At 30 April 2024 161,470
At 30 April 2023 161,470

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,195 3,195
Trade creditors - 145
Taxation and social security 418 92
Other creditors 58,002 55,928
61,615 59,360

SOUTHS PROPERTIES (LINCS) LIMITED (REGISTERED NUMBER: 11954960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 98,438 102,381

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 85,781 89,724

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 101,633 105,576

The company's mortgage is secured on the property to which it relates.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30th April 2024, an amount of £56,087 (2023 : £54,154) was owing to the directors. This amount is unsecured, interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOUTHS PROPERTIES (LINCS) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Souths Properties (Lincs) Limited for the year ended 30 April 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Souths Properties (Lincs) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Souths Properties (Lincs) Limited and state those matters that we have agreed to state to the Board of Directors of Souths Properties (Lincs) Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Souths Properties (Lincs) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Souths Properties (Lincs) Limited. You consider that Souths Properties (Lincs) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Souths Properties (Lincs) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


30 December 2024