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REGISTERED NUMBER: 09579441 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

SG Southern Limited

SG Southern Limited (Registered number: 09579441)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SG Southern Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R Singh





REGISTERED OFFICE: c/o Ency Associates
Printware Court
Cumberland Business Centre
Portsmouth
Hampshire
PO5 1DS





REGISTERED NUMBER: 09579441 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

SG Southern Limited (Registered number: 09579441)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,973,246 2,100,000

CURRENT ASSETS
Cash at bank 63,872 510,308

CREDITORS
Amounts falling due within one year 5 414,631 470,885
NET CURRENT (LIABILITIES)/ASSETS (350,759 ) 39,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,622,487

2,139,423

CREDITORS
Amounts falling due after more than
one year

6

(1,883,067

)

(1,371,107

)

PROVISIONS FOR LIABILITIES (131,680 ) (131,680 )
NET ASSETS 607,740 636,636

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 607,732 636,628
SHAREHOLDERS' FUNDS 607,740 636,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SG Southern Limited (Registered number: 09579441)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 27 February 2025 and were signed by:





R Singh - Director


SG Southern Limited (Registered number: 09579441)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

SG Southern 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable in respect of rental income from the investment properties owned, net of VAT where applicable.

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.

3. EMPLOYEES AND DIRECTORS

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

SG Southern Limited (Registered number: 09579441)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,100,000
Additions 873,246
At 31 May 2024 2,973,246
NET BOOK VALUE
At 31 May 2024 2,973,246
At 31 May 2023 2,100,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2018 623,097
Cost 2,350,149
2,973,246

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 32,797 31,746
Taxation and social security 5 7,417
Other creditors 381,829 431,722
414,631 470,885

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 1,883,067 1,371,107

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,222,341 1,307,615

SG Southern Limited (Registered number: 09579441)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 1,905,090 1,386,691

Lloyds Bank PLC created a charge on 20 April 2017 over all the property of the company.

Shawbrook Bank Limited created a charge dated 25 April 2023 over the property known as 28-40 Lake Road, Portsmouth, PO1 4HA.

Allica Bank Limited created a charge dated 4 March 2024 over the property known as 105A, 105B, 105D, and 105E Commercial Road, Portsmouth, PO1 1BQ.

8. ULTIMATE CONTROLLING PARTY

The controlling party is R Singh.