Registered number
NI614577
Southbrook Trading Limited
Filleted Accounts
31 March 2025
Southbrook Trading Limited
Filleted Accounts
Contents
Page
Balance sheet 2
Notes to the accounts 3-5
Southbrook Trading Limited
Registered number: NI614577
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 200,000 200,000
Creditors: amounts falling due within one year 4 (199,999) (199,999)
Net current liabilities (199,999) (199,999)
Net assets 1 1
Capital and reserves
Called up share capital 1 1
Shareholders' funds 1 1
The directors are 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 directors acknowledge their 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.
Robert Turner
Director
Approved by the board on 16 June 2025
Southbrook Trading Limited
Notes to the Accounts
for the year ended 31 March 2025
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 represents income from leases for parent company.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Freehold on 30 & 32 Northdown Street, London
Cost
At 1 April 2024 200,000
At 31 March 2025 200,000
Amortisation
At 31 March 2025 -
Net book value
At 31 March 2025 200,000
At 31 March 2024 200,000
4 Creditors: amounts falling due within one year 2025 2024
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 199,999 199,999
5 Related party transactions
Southbrook Trading Limited was incorporated on 21 September 2012 for the purposes of holding the freehold of 30 & 32 Northdown Street, London, N1 9BP. Southbrook Trading Limited is a 100% subsidiary of Galtimore Properties Limited , a company incorporated in Northern Ireland. The freehold was sold to Southbrook Trading Limited on 1 March 2013 and the balance owed to Galtimore Properties Limited is shown within creditors due after 1 year.
6 Controlling party
The utimate controlling party has been identified as Robert Turner, the managing director.
7 Other information
Southbrook Trading Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
Fitzpatrick & Kearney Ltd
10c Marcus Square
Newry
Co Down
BT34 1AE
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