| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Southview House Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 September 2024 |
| for |
| Southview House Limited |
| Southview House Limited (Registered number: 09963896) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Southview House Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Foresters Hall |
| 25/27 Westow Street |
| Upper Norwood |
| London |
| SE19 3RY |
| Southview House Limited (Registered number: 09963896) |
| Abridged Balance Sheet |
| 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Southview House Limited (Registered number: 09963896) |
| Abridged Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Southview House Limited (Registered number: 09963896) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Southview House Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. |
| Related party exemption |
| 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. |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the re[ported profits for the financial year. |
| Estimates and judgements are continually evaluated and are based on a number of factors including historical experience and expectations of future events that are believed to be reasonable under the circumstances.. |
| Valuation of Investment Property - the carrying value of these assets is based on the directors' best estimate of their open market value. In forming their view the directors have had regard to informal, independent professional opinion as well as their own understanding of the current residential property market in that location. |
| Turnover |
| Turnover represents rental income receivable.which is accounted for on an accruals basis. |
| Tangible fixed assets |
| Furniture, fixtures and equipment | - |
| Investment property |
| Investment properties are initially measured at cost. Subsequently investment properties are measured at fair value with revaluation adjustments recognised in the Income statement. |
| Southview House Limited (Registered number: 09963896) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other creditors and, loans from banks and other third parties. |
| Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of cash consideration expected to be paid or received. |
| Debt instruments which are payable or receivable after more than one year are initially measured at the fair value of the cash consideration and thereafter at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the period relates to current tax which is recognised in the Income Statement. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. |
| Borrowing costs |
| Finance costs are charged to the Statement of Income and Retained Earnings as incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Southview House Limited (Registered number: 09963896) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| The long leasehold properties were valued as at 31 March 2020 on a fair value basis by Colliers International Valuation UK LLP.The Directors do not consider that there was a material difference between the fair value of the properties as at 31 March 2020 and 30 September 2024. |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Owed to group undertakings | - | 16,150,436 |
| The company's borrowings are secured by fixed charges over its investment properties. |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/9/24 | 30/9/23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 8. | RELATED PARTY DISCLOSURES |
| Included within Creditors: amounts falling due after more than one year are £8,600,000 and £7,475,436 respectively owed to Hollybrook (UK) Ltd and Hollybrook Finance Ltd. These relate to loans to fund the acquisition of the company's investment properties and include interest charged at commercial rates. |
| The loans are secured on the company's investment property portfolio. |
| There exists a cross guarantee for the borrowings of Hollybrook (19 QE Street) Ltd and Hollybrook Finance Ltd. Hollybrook (19 QE Street) Ltd is a fellow wholly owned subsidiary undertaking of Hollybrook Finance Ltd. |
| Hollybrook Finance Ltd, the company's immediate parent, is a wholly owned subsidiary undertaking of Hollybrook (UK) Ltd incorportaed in England. |
| Southview House Limited (Registered number: 09963896) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 9. | PARENT COMPANY |
| The company is a wholly owned subsidiary undertaking of Hollybrook Finance Ltd, incorporated in England. |