ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 01167969

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	SOUTHWARK INVESTMENTS LIMITED


SOUTHWARK INVESTMENTS LIMITED

COMPANY INFORMATION

Directors	Ms M R Rolwegan
	Dr A Butchart (appointed 1 January 2025)


Company secretary	Ms M R Rolwegan


Registered number	01167969


Registered office	20 Belgrave Mews West
	London
	SW1X 8HT


Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


SOUTHWARK INVESTMENTS LIMITED REGISTERED NUMBER:01167969

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		1,659,486		1,662,653
Investments	5		104		4
			1,659,590		1,662,657
Current assets
Stocks		6,090,690		6,976,766
Debtors: amounts falling due within one year	6	3,068,304		651,080
Cash at bank and in hand		992,873		419,448
		10,151,867		8,047,294
Creditors: amounts falling due within one year	7	(144,567)		(116,907)
Net current assets			10,007,300		7,930,387
Total assets less current liabilities			11,666,890		9,593,044
Creditors: amounts falling due after more than one year	8		(10,011,285)		(10,077,331)
Provisions for liabilities
Deferred tax		(280,166)		(280,166)
			(280,166)		(280,166)
Net assets/(liabilities)			1,375,439		(764,453)

Capital and reserves
Called up share capital	50,000	50,000
Profit and loss account	1,325,439	(814,453)
	1,375,439	(764,453)

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SOUTHWARK INVESTMENTS LIMITED REGISTERED NUMBER:01167969

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Ms M R Rolwegan

Director

Date: 25 September 2025

The notes on pages 3 to 7 form part of these financial statements.

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SOUTHWARK INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Southwark Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 1167969. The registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Going concern

The company relies on the support of the major shareholder. The Directors are confident that this support will continue, enabling the company to meet its liabilities as they fall due. As a result, it is the directors opinion that the going concern basis of preparation continues to be appropriate.

2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and
the revenue can be reliably measured. Revenue is generated by the promotion of project development and design within the property market. The company also receives income from the rental and sale of property and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery	-	25% reducing balance basis
Motor vehicles	-	25% reducing balance basis
Fixtures, fittings & equipment	-	33% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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SOUTHWARK INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

2.7

Stock and work in progress

Properties for resale and developments in progress are included at the lower of cost and net realisable value. Cost comprises the purchase price of land and property, direct costs and appropriate overheads, relating to current and proposed development projects where there is a reasonable degree of certainty that the latter will proceed.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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SOUTHWARK INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


	2.10	Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).

4.	Tangible fixed assets

	Investment properties	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	1,650,000	300,818	30,820	24,855	2,006,493
At 31 December 2024	1,650,000	300,818	30,820	24,855	2,006,493
Depreciation
At 1 January 2024	-	290,338	28,698	24,804	343,840
Charge for the year on owned assets	-	2,620	530	17	3,167
At 31 December 2024	-	292,958	29,228	24,821	347,007
Net book value
At 31 December 2024	1,650,000	7,860	1,592	34	1,659,486
At 31 December 2023	1,650,000	10,480	2,122	51	1,662,653

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SOUTHWARK INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	4
	Additions	100
	At 31 December 2024	104

Southwark Investments Limited owns 100% of the share capital of Southwark Project Management Ltd and 100% of the share capital of Southwark Project Services Ltd.
During the year, there is an addition investment of £100. Southwark Investments Limited owns 100% of the share capital in Whitehill House Stables Ltd.
The address of the registered office for all subsidiaries is 13 Melville Street, Edinburgh, Scotland, EH3 7PE.

Debtors

					2024	2023
					£	£


Trade debtors	165,000	190,000
Amounts owed by group undertakings	2,766,861	99,861
Other debtors	35,179	20,929
Prepayments and accrued income	101,264	340,290
	3,068,304	651,080

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	1,290	-
Other taxation and social security	107,375	74,722
Other creditors	23,700	26,588
Accruals and deferred income	12,202	15,597
	144,567	116,907

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SOUTHWARK INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other creditors	10,011,285	10,077,331
	10,011,285	10,077,331

This is an unsecured, interest free loan provided by Mr J G Butchart, who is the controlling shareholder, which is due to be repaid within 2 years.

Not later than 1 year	26,000	13,010
Later than 1 year and not later than 5 years	16,756	21,394
	42,756	34,404

10.	Related party transactions
	At the balance sheet date an amount of £23,700 (2023: £24,188) was due to a director. This amount was interest free.

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