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Company Registration No. 00969277 (England and Wales)
Southcombe Limited Unaudited Financial Statements for the year ended 31 December 2024
Southcombe Limited Unaudited Financial Statements Contents
Page
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Southcombe Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,423,176 
1,392,675 
Current assets
Inventories
3,587 
3,450 
Debtors
112,758 
125,575 
Cash at bank and in hand
91,878 
201,267 
208,223 
330,292 
Creditors: amounts falling due within one year
(330,682)
(325,761)
Net current (liabilities)/assets
(122,459)
4,531 
Net assets
1,300,717 
1,397,206 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
1,290,717 
1,387,206 
Shareholders' funds
1,300,717 
1,397,206 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2025 and were signed on its behalf by
Mr P A Bailey Director Company Registration No. 00969277
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Southcombe Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Southcombe Limited is a private company, limited by shares, registered in England and Wales, registration number 00969277. The registered office is 21 Mulligan Drive, The Rydons, Exeter, Devon, EX2 7SJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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Southcombe Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
1,328,757 
18,206 
334,090 
5,047 
1,686,100 
Additions
40,987 
- 
3,514 
- 
44,501 
At 31 December 2024
1,369,744 
18,206 
337,604 
5,047 
1,730,601 
Depreciation
At 1 January 2024
- 
13,778 
275,740 
3,907 
293,425 
Charge for the year
- 
1,107 
12,373 
520 
14,000 
At 31 December 2024
- 
14,885 
288,113 
4,427 
307,425 
Net book value
At 31 December 2024
1,369,744 
3,321 
49,491 
620 
1,423,176 
At 31 December 2023
1,328,757 
4,428 
58,350 
1,140 
1,392,675 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,046 
18,416 
Amounts due from group undertakings etc.
70,000 
80,000 
Accrued income and prepayments
32,712 
27,159 
112,758 
125,575 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
78,982 
74,061 
Amounts owed to group undertakings and other participating interests
250,000 
250,000 
Other creditors
1,700 
1,700 
330,682 
325,761 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000 
10,000 
8
Contingent liabilities
The company has provided an unlimited guarantee for the bank borrowings of Saumarez Park Hotel Limited. No balances were outstanding as at 31 December 2024 and in the opinion of the directors no liability is likely to arise as a result of this guarantee.
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Southcombe Limited Notes to the Accounts for the year ended 31 December 2024
9
Transactions with related parties
The Company is related to Saumarez Park Hotel Limited, Summerland Nursing Services Limited, Guernsey Nursing Homes Limited and Peline Property & Investment Company Limited. During the year the company paid £100,000 to Saumarez Park Hotel Limited for rent. The amounts due to related companies at 31 December 2024 are as follows:- Guernsey Care Homes (Holdings) Limited - £70,000 All transactions were on normal trading terms and at arm's length.
10
Controlling party
The company is wholly owned by Guernsey Care Homes (Holdings) Limited, which is owned by Epinel Investments Limited, which in turn, is owned by The John Ramplin Trust.
11
Average number of employees
During the year the average number of employees was 32 (2023: 29).
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