Registered number
09126615
Southern Territory (UK) Limited
Filleted Accounts for the year ended
31 July 2024
Southern Territory (UK) Limited
Registered number: 09126615
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,006,928 2,565,162
Investments 4 441,711 441,711
4,448,639 3,006,873
Current assets
Stocks 1,429,827 1,403,641
Debtors 5 4,057,570 4,112,227
Cash at bank and in hand 19,879 17,543
5,507,276 5,533,411
Creditors: amounts falling due within one year 6 (5,555,965) (4,806,758)
Net current (liabilities)/assets (48,689) 726,653
Total assets less current liabilities 4,399,950 3,733,526
Creditors: amounts falling due after more than one year 7 (3,909,017) (3,192,501)
Net assets 490,933 541,025
Capital and reserves
Called up share capital 10 10
Profit and loss account 490,923 541,015
Shareholders' funds 490,933 541,025
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Alexandrou
Director
Approved by the board on 9 May 2025
Southern Territory (UK) Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property NIL
Investment property are stated at their fair market values.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment property
£
Cost/fair value
At 1 August 2023 2,565,162
Additions 1,441,766
At 31 July 2024 4,006,928
Depreciation
At 31 July 2024 -
Net book value/fair value
At 31 July 2024 4,006,928
At 31 July 2023 2,565,162
The director considers the cost value of property investments to be similar to the fair value.
4 Investments
Other
investments
£
Cost
At 1 August 2023 441,711
At 31 July 2024 441,711
5 Debtors 2024 2023
£ £
Trade debtors 570,664 121,773
Amounts owed by associated companies 3,450,538 3,985,313
Other loans 2,500 2,500
Prepayments 14,426 -
VAT refund due 19,442 2,641
4,057,570 4,112,227
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 217,499 217,499
Trade creditors 671,594 445,042
Amounts owed to associated companies 4,650,888 4,132,457
Other creditors 15,984 11,760
5,555,965 4,806,758
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,909,017 3,192,501
8 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 741,540 -
Secured bank loans 4,126,516 3,410,000
Bank and other loans are secured by way of fixed legal charge and floating charge over the property and assets of the company. There is also a personal guarantee on these loans totalling £3,410,000 from the director A Alexandrou and from a company Waterhouse Property Investments Ltd.
9 Related party transactions
During the year, the following companies in which the director A Alexandrou holds an interest, had loaned the following amounts to Southern Territory (UK) Limited:

Southern Territory Limited - £1,601,886 (2023 - £1,631,886)
Atlantic Developments (Cudworth) Limited - £192,450 (2023 - £192,450)
Atlantic Lodge (Housing) Limited - £1,248,482 (2023 - £714,051)
Atlantic (Hertford) Limited - £450,700 (2023 - £450,700)
Icospec Limited - £325,194 (2023 - £311,194)
Real Properties Limited - £50,000 (2023 - £50,000)
Friday Hill House Limited - £782,176 (2023 - £782,176)

These amounts are included in "Amounts owed to associated companies".
These loans are made on an interest free basis with no set repayment date.

During the year, the following companies in which the director A Alexandrou holds an interest, had been loaned the following amounts from Southern Territory (UK) Limited:

Marlyn Properties Limited - £417,000 (2023 - £369,000)
STUK02 Ltd - £8,100 (2023 - £Nil)
STUK03 Ltd - £5,000 (2023 - £5,000)
STUK04 Ltd - £6,480 (2023 - £11,880)
STUK05 Ltd - £300,321 (2023 - £300,321)
STUK06 Ltd - £118,667 (2023 - £143,229)
STUK07 Ltd - £1,587,570 (2023 - £1,979,384)
STUK10 Ltd - £664,400 (2023 - £773,500)
STUK11 Ltd - £3,000 (2023 - £3,000)
GK Phoenix Limited - £340,000 (2023 - £400,000)

These amounts are included in "Amounts owed by associated companies".
These loans are made on an interest free basis with no set repayment date .
10 Controlling party
The ultimate controlling party is the director A Alexandrou who with family holds 100% of the shares.
11 Other information
Southern Territory (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Atlantic Business Centre
1 The Green
London
E4 7ES
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