REGISTERED NUMBER: 07101258 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LONDON AND SOUTHERN ESTATES (READING)

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

REGISTERED OFFICE:

36a Station Road

New Milton

Hampshire

BH25 6JX

REGISTERED NUMBER:

07101258 (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

Investment property

4

1,700,000

2,146,690

CURRENT ASSETS

Debtors

5

105,303

107,308

Cash at bank

46,095

13,445

151,398

120,753

CREDITORS

Amounts falling due within one year

6

545,150

496,467

NET CURRENT LIABILITIES

(393,752

)

(375,714

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,306,248

1,770,976

CREDITORS

Amounts falling due after more than one year

7

(250,000

)

(350,000

)

PROVISIONS FOR LIABILITIES

8

-

(57,998

)

NET ASSETS

1,056,248

1,362,978

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

199,453

588,145

Retained earnings

856,695

774,733

SHAREHOLDERS' FUNDS

1,056,248

1,362,978

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 24 May 2025 and were signed on its behalf by:

G D Swetman - Director

1.	STATUTORY INFORMATION

London and Southern Estates (Reading) 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.

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.

Turnover

Turnover represents the rental income chargeable for the year, excluding value added tax.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

2,146,690

Impairments

(446,690

)

At 31 December 2024

1,700,000

NET BOOK VALUE

At 31 December 2024

1,700,000

At 31 December 2023

2,146,690

Fair value at 31 December 2024 is represented by:

£

Valuation in 2012

199,453

Valuation in 2016

200,000

Valuation in 2017

46,690

Valuation in 2023

200,000

Valuation in 2024

(446,690

)

Cost

1,500,547

1,700,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

1,500,547

1,500,547

The current valuation is based on advice from Cushman & Wakefield Debenham Tie Leung Limited. Previous valuations were by CBRE later updated by the Directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

105,303

105,303

Other debtors

-

2,005

105,303

107,308

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

487,176

431,902

Taxation and social security

27,320

25,190

Other creditors

30,654

39,375

545,150

496,467

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

250,000

350,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other Loans

250,000

350,000

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Other timing differences

-

57,998

Deferred

tax

£

Balance at 1 January 2024

57,998

Revaluation reserve

(57,998

)

Balance at 31 December 2024

-

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

588,145

Revaluation of investment prop

(388,692

)

At 31 December 2024

199,453

10.	RELATED PARTY DISCLOSURES

The company received a loan during the year from Mr G D and Mrs A M Swetman. The balance at the balance sheet date amounted to £Nil (2023 - £28,309). No interest is payable on this loan..The loan was repaid during the year.

11.	ULTIMATE CONTROLLING PARTY

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