REGISTERED NUMBER: 04541416 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LONDON AND SOUTHERN ESTATES (SWINDON)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G D Swetman

Mrs A M Swetman

M J Swetman

SECRETARY:

G D Swetman

REGISTERED OFFICE:

36a Station Road

New Milton

Hampshire

BH25 6JX

REGISTERED NUMBER:

04541416 (England and Wales)

ACCOUNTANTS:

David Shores & Co Ltd

36a Station Road

New Milton

Hampshire

BH25 6JX

BANKERS:

Svenska Handelsbanken AB

3 Thomas More Square

London

E1W 1WY

SOLICITORS:

Phillips

Town Gate

38 London Street

Basingstoke

Hampshire

RG21 7NY

FIXED ASSETS

Tangible assets

4

1,148

1,351

Investment property

5

2,740,000

2,950,000

2,741,148

2,951,351

CURRENT ASSETS

Debtors

6

874,980

874,469

Cash at bank

270,137

1,294,755

1,145,117

2,169,224

CREDITORS

Amounts falling due within one year

7

1,913,667

2,971,611

NET CURRENT LIABILITIES

(768,550

)

(802,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,972,598

2,148,964

PROVISIONS FOR LIABILITIES

149,369

94,834

NET ASSETS

1,823,229

2,054,130

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

8

927,641

1,192,176

Retained earnings

894,588

860,954

SHAREHOLDERS' FUNDS

1,823,229

2,054,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2025 and were signed on its behalf by:

G D Swetman - Director

1.	STATUTORY INFORMATION

London and Southern Estates (Swindon) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the rental income chargeable for the period covered by these accounts, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. it is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different to those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investments and investment properties held at fair value is measured using the rates and allowances that would apply to the sale of the assets.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Additional notes

Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Provisions

Provisions (i.e. 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

2,200

DEPRECIATION

At 1 January 2024

849

Charge for year

203

At 31 December 2024

1,052

NET BOOK VALUE

At 31 December 2024

1,148

At 31 December 2023

1,351

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

2,950,000

Revaluations

(210,000

)

At 31 December 2024

2,740,000

NET BOOK VALUE

At 31 December 2024

2,740,000

At 31 December 2023

2,950,000

The property shown above is let on a fifteen year and 5 months lease dated 21st April 2020.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2004

115,340

Valuation in 2005

739,000

Valuation in 2006

11,000

Valuation in 2008

(350,000

)

Valuation in 2009

399,000

Valuation in 2012

(299,000

)

Valuation in 2014

510,000

Valuation in 2018

(500,000

)

Valuation in 2020

682,581

Valuation in 2024

(210,000

)

Cost

1,642,079

2,740,000

The valuation adjustment showing as 2004 represents increases in value of £65,340 in 2003 and £50,000 in 2004.

The current fair value is based on a valuation provided by BNP Paribas Real Estate as at 31st December 2024.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

874,980

812,267

Other debtors

-

62,202

874,980

874,469

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

1,868,611

1,886,916

Taxation and social security

42,594

1,078,134

Other creditors

2,462

6,561

1,913,667

2,971,611

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

1,192,176

Investment property valuation

(264,535

)

At 31 December 2024

927,641

9.	RELATED PARTY DISCLOSURES

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.

The company held loans from Directors during the year. The balance was £312 (2023 - £4,511) at the balance sheet date.

No interest has been charged and there is no formal repayment plan. The loan is repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors the company is ultimately controlled by Mr G D Swetman and Mrs A M Swetman.