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REGISTERED NUMBER: 09502765 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOUTHGATE VIEWS LIMITED

SOUTHGATE VIEWS LIMITED (REGISTERED NUMBER: 09502765)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SOUTHGATE VIEWS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P Adamou
Mr T Panayiotou
Mr P Stavrou
Mr C Stylianou





REGISTERED OFFICE: South Point House
321 Chase Road
London
N14 6JT





REGISTERED NUMBER: 09502765 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

SOUTHGATE VIEWS LIMITED (REGISTERED NUMBER: 09502765)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 14,125,939 14,125,939

CURRENT ASSETS
Debtors 5 349,982 279,199
Cash at bank 17,130 77,807
367,112 357,006
CREDITORS
Amounts falling due within one year 6 4,564,846 4,536,975
NET CURRENT LIABILITIES (4,197,734 ) (4,179,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,928,205

9,945,970

CREDITORS
Amounts falling due after more than one
year

7

9,158,475

9,010,253
NET ASSETS 769,730 935,717

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 769,630 935,617
SHAREHOLDERS' FUNDS 769,730 935,717

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 7 March 2025 and were signed on its behalf by:





Mr P Adamou - Director


SOUTHGATE VIEWS LIMITED (REGISTERED NUMBER: 09502765)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Southgate Views 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.

The financial statements have been prepared on going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 14,125,939
NET BOOK VALUE
At 31 March 2024 14,125,939
At 31 March 2023 14,125,939

Investment properties were valued on a fair value basis, by the directors, at the year end.

SOUTHGATE VIEWS LIMITED (REGISTERED NUMBER: 09502765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 349,982 279,199

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,453 38,452
Taxation and social security 94,619 128,986
Other creditors 4,431,774 4,369,537
4,564,846 4,536,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,158,475 9,010,253

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 9,158,475 9,010,253

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 9,158,475 9,010,253

A legal charge over all property has been secured by the company's bankers.

SOUTHGATE VIEWS LIMITED (REGISTERED NUMBER: 09502765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. RELATED PARTY DISCLOSURES

Included in debtors, amounts falling due within one year, is an interest free amount of £230,000 (2023: £230,000) due from Berkeley Corporate Finance Limited. The companies are connected by virtue of common Directors.

Included in debtors, amounts falling due within one year, is an interest free amount of £84,000 (2023: £ 40,000) due from Solar House Estates Limited. The companies are connected by virtue of common Directors.

Included in debtors, amounts falling due within one year, is an interest free amount of £10,420 (2023: £nil.) due from Brook Point Properties Ltd.. The companies are connected by virtue of common Directors.

Included in debtors, amounts falling due within one year, is an interest free amount of £10,000 (2023: £nil.) due from Microcorm Ltd. The companies are connected by virtue of common Directors.

Included in debtors, amounts falling due within one year, is an interest free amount of £600 (2023: £nil.) due from Southline Properties Ltd. The companies are connected by virtue of common Directors.

Included in debtors, amounts falling due within one year, is an interest free amount of £600 (2023: £nil.) due from Solarhouse Group Ltd. The companies are connected by virtue of common Directors.

Included in creditors, amounts falling due within one year, is an interest free amount of £3,837,141 (2023: £3,732,141) due to Brookway LP. The companies are connected by virtue of common Directors and Partners.

Included in creditors, amounts falling due within one year, is also an interest free amount of £nil. (2023: £75,000) due to Hollywood Estates Limited. The companies are connected by virtue of common Directors.

Included in creditors, amounts falling due within one year, is also an interest free amount of £250,000 (2023: £250,000) due to Gate Management Limited. The companies are connected by virtue of common Directors.

Included in creditors, amounts falling due within one year, is an interest free amount of £40,000 (2023: £nil) due to Adam & Styles Properties Ltd. The companies are connected by virtue of common Directors.

Included in creditors, amounts falling due within one year, is an interest free amount of £178,880 (2023: £178,880) due to Ironage Limited. The companies are connected by virtue of common Directors.