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Company Registration No. 00027970 (England and Wales)
SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Unaudited accounts for the year ended 31 December 2024
SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Company Information for the year ended 31 December 2024
Directors
Mr K McPherson Mrs J G Penn Reverend S Sharpe
Company Number
00027970 (England and Wales)
Registered Office
23 ST. LEONARDS ROAD BEXHILL-ON-SEA EAST SUSSEX TN40 1HH ENGLAND
Accountants
Woolley & Co - Accountants and Chartered Tax Advisors Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED for the year ended 31 December 2024 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Woolley & Co - Accountants and Chartered Tax Advisors Chartered Certified Accountants Crown House, York Road Shiptonthorpe York East Yorkshire YO43 3PF 13 February 2025
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SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
4
1,183,000 
1,183,000 
Current assets
Debtors
5
2,517 
2,180 
Cash at bank and in hand
56,218 
52,356 
58,735 
54,536 
Creditors: amounts falling due within one year
6
(35,033)
(29,132)
Net current assets
23,702 
25,404 
Total assets less current liabilities
1,206,702 
1,208,404 
Provisions for liabilities
Deferred tax
(183,250)
(183,250)
Net assets
1,023,452 
1,025,154 
Capital and reserves
Called up share capital
5,000 
5,000 
Revaluation reserve
273,000 
273,000 
Profit and loss account
745,452 
747,154 
Shareholders' funds
1,023,452 
1,025,154 
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 13 February 2025 and were signed on its behalf by
Mr K McPherson Director Company Registration No. 00027970
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SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00027970. The registered office is 23 ST. LEONARDS ROAD, BEXHILL-ON-SEA, EAST SUSSEX, TN40 1HH, ENGLAND.
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.
Investment property
Investment property is included at fair value at the year end. The directors have assessed the value based on information available to them.
4
Investments
Other investments 
£ 
Valuation at 1 January 2024
1,183,000 
Valuation at 31 December 2024
1,183,000 
The directors' assessment of the current holding value of the property is £1.3m. Of this, South Wharf Investments (Portslade) Ltd holds a 91% share meaning that the valuation as at 31 December 2024 is £1,183,000. (2023 : £1,183,000). The directors are content to state that this is a fair value at the balance sheet. In assessing the higher valuation the directors have recorded a deferred tax liability on the revalued amount at a rate of 25% of the revaluation uplift.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,517 
2,180 
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SOUTH WHARF INVESTMENTS (PORTSLADE) LIMITED Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
700 
478 
Taxes and social security
6,833 
4,904 
Deferred income
27,500 
23,750 
35,033 
29,132 
7
Transactions with related parties
South Wharf Investments (Portslade) Limited is a subsidiary of The Silver Lady Fund incorporating The All Night Travelling Cafe. The principal property managed by South Wharft Investments (Portslade) Limited is the Wharf House at South Wharf, Aldington Basin, Basin Road South, Brighton and is owned in the following percentages : 91% South Wharf Investments (Portslade) Limited 9% The Silver Lady Fund incorporating The All Night Travelling Cafe. South Wharf Investments (Portslade) Limited, acting as an agent of The Silver Lady Fund incorporating The All Night Travelling Cafe, collects rents receivable and pays costs relating to the 9% ownership by the holding company in the investment property. It does not act as principal in this matter and therefore there is no related party transaction involved.
8
Controlling party
The major shareholders in the company were as follows: Holding in deferred Ordinary shares (in number): J Baxter -Groves 1000 (2023 : 1000) The Silver Lady Fund incorporating The All Night Travelling Cafe 3426 (2023 : 3426) The Holding Company is The Silver Lady Fund incorporating The All Night Travelling Cafe. The company is registered in England and Wales with its registered office address being 23 St Leonards Road, Bexhill on Sea, East Sussex, TN40 1HH.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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