Inland (Southern) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 07440737

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	13		2,503
Cash at bank and in hand		1,865		4,052

		1,878		6,555
Creditors: Amounts Falling Due Within One Year	5	(2,274,777 )		(2,213,451 )

NET CURRENT ASSETS (LIABILITIES)			(2,272,899 )		(2,206,896 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,272,899 )		(2,206,896 )

NET LIABILITIES			(2,272,899 )		(2,206,896 )

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			(2,272,900 )		(2,206,897 )

SHAREHOLDERS' FUNDS			(2,272,899)		(2,206,896)

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr H L Shah

Director

30 September 2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Inland (Southern) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07440737 . The registered office is 76 Canterbury Road, Croydon, Surrey, CR0 3HA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

2.2. Going Concern Disclosure

The financial statements have been prepared on a break-up basis. This basis includes, where applicable, writing the company’s assets down to their net realisable values. A settlement has been reached in relation to the company's ongoing costs associated with the development and that separately, a claim has recently been received that the company is reviewing but is presently treating as a contingent liability.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the director is required to make judgements, estimates and

assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The

estimates and associated assumptions are based on historical experience and other factors that are considered to be

relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of

the revision and future periods where the revision affects both current and future periods.

2.4. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.5. Interest Payable

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.6. Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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Inland (Southern) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	13	2,503

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	19,843	19,844
Loans and borrowings	1,506,529	1,506,529
Other creditors	748,405	687,078

	2,274,777	2,213,451

A settlement has been reached for the company to reduce its major contractual liabilities which are within Other creditors above.

6. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Other loans	1,506,529	1,506,529

The loans and borrowings relate to a secured loan of £1,506,529 (2023 - £1,506,529) from Inland Limited (in administration), which is repayable on demand and earns interest at a rate of 4% per annum. Inland Limited (in administration) have released their security post year end and this loan is now unsecured.

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

8. Contingent Liabilities

The company has recently received a claim that it is reviewing.

Previously, the company formed part of a group which is currently in administration. Before the group had entered into administration, the company had left the group. However, whilst it was part of the group, it had entered into an option agreement with vendors of a property under which option payments were due at various stages. The option payments were guaranteed by the group's holding company. Following the company's exit from the group, the group continued to make payments under the option agreement. However, following the group entering into administration, the vendors of the property stopped receiving payments under the option agreement and have recently issued a letter of claim against the company for the outstanding payments as presumably none of the group members are solvent.

In view of the above, the company is reviewing the claim and is currently treating it as a contingent liability.

9. Controlling Parties

The company's immediate parent undertaking is Garnet Developments Limited , incorporated in England and Wales.

The company's ultimate controlling party is Garnet Developments Limited .

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