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REGISTERED NUMBER: 03468046 (England and Wales)










Southwark Residential Limited

Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 April 2024






Southwark Residential Limited (Registered number: 03468046)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Southwark Residential Limited

Company Information
for the year ended 30 April 2024







DIRECTOR: Peter Hamilton Fowler





SECRETARY: Diane Crewsdon





REGISTERED OFFICE: Pennant House
18 Field Street
Llangefni
Anglesey
LL77 7EH





REGISTERED NUMBER: 03468046 (England and Wales)

Southwark Residential Limited (Registered number: 03468046)

Report of the Director
for the year ended 30 April 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of letting property.

DIRECTOR
Peter Hamilton Fowler held office during the whole of the period from 1 May 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Peter Hamilton Fowler - Director


23 August 2024

Southwark Residential Limited (Registered number: 03468046)

Income Statement
for the year ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER - -

Administrative expenses (3,447 ) (2,097 )
(3,447 ) (2,097 )

Other operating income 6,480 6,475
OPERATING PROFIT 4 3,033 4,378

Interest receivable and similar income 85 12
PROFIT BEFORE TAXATION 3,118 4,390

Tax on profit (627 ) (14,965 )
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 2,491 (10,575 )

Southwark Residential Limited (Registered number: 03468046)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 14 16
Investment property 6 240,343 240,532
240,357 240,548

CURRENT ASSETS
Debtors 7 871 1,419
Cash at bank 21,205 18,009
22,076 19,428
CREDITORS
Amounts falling due within one year 8 58,200 58,236
NET CURRENT LIABILITIES (36,124 ) (38,808 )
TOTAL ASSETS LESS CURRENT LIABILITIES 204,233 201,740

PROVISIONS FOR LIABILITIES 33,922 33,922
NET ASSETS 170,311 167,818

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 37,900 37,900
Revaluation reserve 9 135,683 135,683
Retained earnings (3,372 ) (5,865 )
SHAREHOLDERS' FUNDS 170,311 167,818

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 director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





Peter Hamilton Fowler - Director


Southwark Residential Limited (Registered number: 03468046)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Southwark Residential 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off assets over its estimated useful life:


Long Leasehold Property .1% using fixed rate method

Plant and Machinery 15% using reduced balance basis

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
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.

In addition deferred taxation includes a provision for taxation which would occur on the sale of investment properties. It is calculated with reference to the director's valuation at the balance sheet date at the rate then chargeable.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 270 270
Depreciation - owned assets 191 193
Depreciation 192 -

Southwark Residential Limited (Registered number: 03468046)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 130
DEPRECIATION
At 1 May 2023 114
Charge for year 2
At 30 April 2024 116
NET BOOK VALUE
At 30 April 2024 14
At 30 April 2023 16

Included in cost of land and buildings is freehold land of £ 52,500 (2023 - £ 0 ) which is not depreciated.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 242,750
DEPRECIATION
At 1 May 2023 2,218
Charge for year 189
At 30 April 2024 2,407
NET BOOK VALUE
At 30 April 2024 240,343
At 30 April 2023 240,532

The investment properties include both long leasehold and freehold property. The cost brought forward of the freehold property was £52,500. The freehold properties have not been revalued during the year. The freehold buildings have not being depreciated which is not in accordance with approved accounting standards.

The long leasehold property is valued at £190,250 at the end of the year by the director. This has been depreciated over the remaining term of the lease.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 871 1,419

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,002 1,794
Taxation and social security 627 871
Other creditors 55,571 55,571
58,200 58,236

Southwark Residential Limited (Registered number: 03468046)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

9. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 135,683

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

1. The director has loaned £55,571 interest free unsecured repayable on demand. There was no change to this amount during the year .
2. the company has rented furniture from Fowler and Hare [Anglesey] Limited to the value of £270. Nothing was owed to Southwark Residential Limited at the year end representing an over payment.
3. The company employed Fowler and Hare [Anglesey] Limited to prepare leases. The amount charged was £360 and the amount owing at the year end was £120.
4. The company contracted with Fowler and Hare [Porthmadog] Limited to carry out the bookkeeping for it. charging Southwark Residential Limited £130.The amount outstanding at the year end was £130.
5. Fowler and Hare [Anglesey] Limited was employed as a service company to manage the four flats at Crofton House, one of the long leaseholds belonging to Southwark Residential Limited. The company's share of the management fee was £155 and nothing was due at the year end.
6. The company paid Holidays in Wales Limited £648 for managing the company's property. £648 was due at the year end.
7. The ground rent due on the long leasehold property was £25 payable to Holidays in Wales Limited. No balance was due at the year end.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Peter Hamilton Fowler.