DSH (Southampton) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

(Registration number: 15644637)
Statement of Financial Position as at 31 December 2024

	Note	2024 £
Current assets
Stocks	4	5,526,320
Debtors	5	1,625,768
		7,152,088
Creditors: Amounts falling due within one year	6	(55,967)
Total assets less current liabilities		7,096,121
Creditors: Amounts falling due after more than one year	6	(4,500,000)
Provisions for liabilities		(825,000)
Net assets		1,771,121
Capital and reserves
Called up share capital		1
Profit and loss account		1,771,120
Shareholders' funds		1,771,121

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 30 September 2025

J Steven
Director

DSH (Southampton) Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5, Block 23,
Melville Building
Royal William Yard
Plymouth
Devon
PL1 3RP

Principal activity

The principal activity of the company is that of a property development company.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

DSH (Southampton) Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

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 statement of comprehensive income 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

DSH (Southampton) Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4

Stocks

	2024 £
Work in progress	5,526,320

5

Debtors

	Note	2024 £
Amounts owed by related parties	8	1,587,747
Other debtors		11,480
Prepayments		26,541
		1,625,768

DSH (Southampton) Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £
Due within one year
Trade creditors		26,411
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	27,632
Other creditors		1,924
		55,967

Creditors: amounts falling due after more than one year

	Note	2024 £
Due after one year
Loans and borrowings		4,500,000

Loans and borrowings above include a loan secured by a first legal charge over the leasehold property owned by the company. In addition, there is a first legal charge over all assets of the company. The creditor also holds a negative pledge.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Summary of transactions with associates

At the reporting date the company was owed £1,587,747 from group companies and owed £27,632 to group companies.

During the year the company agreed with its group associates to write off an inter-company creditor and recognised £5,500,000 in exceptional income.

During the year the company agreed with its group associates to write off an inter-company debtor and recognised £2,620,001 in exceptional expenditure.

DSH (Southampton) Limited

Notes to the Unaudited Financial Statements for the Period from 14 April 2024 to 31 December 2024 (continued)

8	Related party transactions (continued)

Summary of transactions with other related parties

During the year the company suffered expenses totalling £9,935 from the son of the director for his planning expertise.