| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2025 |
| for |
| Somerland Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2025 |
| for |
| Somerland Limited |
| Somerland Limited (Registered number: 03715358) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Somerland Limited |
| Company Information |
| for the Year Ended 28 February 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Freedman House |
| Christopher Wren Yard |
| 117 High Street |
| Croydon |
| Surrey |
| CR0 1QG |
| Somerland Limited (Registered number: 03715358) |
| Balance Sheet |
| 28 February 2025 |
| 28.2.25 | 29.2.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve | 10 |
| Fair value reserve | 10 |
| Retained earnings | 10 |
| 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. |
| Somerland Limited (Registered number: 03715358) |
| Balance Sheet - continued |
| 28 February 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Somerland Limited (Registered number: 03715358) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Somerland Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value. |
| Turnover |
| Turnover represents rent receivable, excluding value added tax. |
| Investment property |
| Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date that are expected to apply to the reversal of the timing difference. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Somerland Limited (Registered number: 03715358) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2024 |
| Disposals | ( |
) |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| The investment property is valued annually by the directors on an open market existing use basis. |
| The historical cost of the investment property amount to £381,668 (2024: £460,167). |
| 6. | DEBTORS |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| Somerland Limited (Registered number: 03715358) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 28.2.25 | 29.2.24 |
| £ | £ |
| Other loans | 218,762 | 238,886 |
| 10. | RESERVES |
| Capital | Fair |
| Retained | redemption | value |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 March 2024 | 391,232 |
| Profit for the year |
| Deferred tax provision | (64,438 | ) | - | 64,438 | - |
| Realised gain on disposal | 306,501 | - | (306,501 | ) | - |
| At 28 February 2025 | 403,167 |