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Registered number: 12197001
South Coast Housing Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Garrett Adam Accountants Limited
ACCA
3 Johnsons Barns
Waterworks Road
Petersfield
Hampshire
GU32 2BY
South Coast Housing Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
South Coast Housing Ltd
Balance Sheet
As At 31 March 2025
Balance Sheet
Registered number: 12197001

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 551,084 |  | 584,881
Tangible Assets | 5 |  | 69,884 |  | 69,157
Investment Properties | 6 |  | 7,360,101 |  | 7,055,887
|  |  | 7,981,069 |  | 7,709,925
CURRENT ASSETS
Debtors | 7 | 39,934 |  | 5,657 |
Cash at bank and in hand |  | 25,423 |  | 156,043 |
|  | 65,357 |  | 161,700 |
Creditors: Amounts Falling Due Within One Year | 8 | (52,132 ) |  | (40,273 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 13,225 |  | 121,427
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 7,994,294 |  | 7,831,352
Creditors: Amounts Falling Due After More Than One Year | 9 |  | (4,435,535 ) |  | (4,253,791 )
NET ASSETS |  |  | 3,558,759 |  | 3,577,561
CAPITAL AND RESERVES
Called up share capital | 11 |  | 2,999,821 |  | 2,999,821
Revaluation reserve | 12 |  | 649,759 |  | 649,759
Profit and Loss Account |  |  | (90,821 ) |  | (72,019 )
SHAREHOLDERS' FUNDS |  |  | 3,558,759 |  | 3,577,561

Page 1
Page 2
South Coast Housing Ltd
Balance Sheet (continued)
As At 31 March 2025
For the year ending 31 March 2025 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 Paul Heywood Director
03/10/2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
South Coast Housing Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2025
Notes to the Financial Statements
1. General Information
South Coast Housing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12197001 . The registered office is 30d Malvern Road, Southsea, PO5 2NA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to HMO Licences and the value created by obtaining the relevant planning consents to allow such licences to be obtained. In line with the Goodwill these are amortised over their estimated economic life of 20 years
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Nil
Fixtures & Fittings | 10% Reducing balance
Computer Equipment | 25% Straight line

2.6. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised through changes in the revaluation reserve.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
South Coast Housing Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Intangible Assets

| Goodwill | Other | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 April 2024 | 625,950 | 50,000 | 675,950
As at 31 March 2025 | 625,950 | 50,000 | 675,950
Amortisation
As at 1 April 2024 | 86,069 | 5,000 | 91,069
Provided during the period | 31,297 | 2,500 | 33,797
As at 31 March 2025 | 117,366 | 7,500 | 124,866
Net Book Value
As at 31 March 2025 | 508,584 | 42,500 | 551,084
As at 1 April 2024 | 539,881 | 45,000 | 584,881

5. Tangible Assets

| Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost or Valuation
As at 1 April 2024 | 88,924 | 3,272 | 92,196
Additions | 11,736 | 408 | 12,144
As at 31 March 2025 | 100,660 | 3,680 | 104,340
Depreciation
As at 1 April 2024 | 22,221 | 818 | 23,039
Provided during the period | 10,497 | 920 | 11,417
As at 31 March 2025 | 32,718 | 1,738 | 34,456
Net Book Value
As at 31 March 2025 | 67,942 | 1,942 | 69,884
As at 1 April 2024 | 66,703 | 2,454 | 69,157

Page 4
Page 5
South Coast Housing Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
6. Investment Property

| 2025
--- | ---
| £
Fair Value
As at 1 April 2024 | 7,055,887
Additions | 304,214
As at 31 March 2025 | 7,360,101

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 43 |  | 271
Other debtors | 39,690 |  | 2,475
Corporation tax recoverable assets | - |  | 2,911
Other taxes and social security | 201 |  | -
| 39,934 |  | 5,657

8. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 844 |  | 1,191
Bank loans and overdrafts | 13,522 |  | 8,915
Other creditors | 14,492 |  | 13,827
Accruals and deferred income | 23,274 |  | 16,340
| 52,132 |  | 40,273

9. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | 4,320,535 |  | 4,138,791
Other creditors | 115,000 |  | 115,000
| 4,435,535 |  | 4,253,791

Other long-term creditors comprise directors' loan balances, the repayment of which is not expected within twelve months of the reporting date.
10. Secured Creditors
Of the creditors the following bank loans are secured by means of a fixed charge over the property they relate to.

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 4,334,057 |  | 4,147,706

Page 5
Page 6
South Coast Housing Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
28,513,950 Ordinary A shares of £ 0.10 each | 2,851,395 |  | 2,851,395
1,369,260 Ordinary B shares of £ 0.10 each | 136,926 |  | 136,926
115,000 Ordinary C shares of £ 0.10 each | 11,500 |  | 11,500
| 2,999,821 |  | 2,999,821

12. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 April 2024 | 649,759
As at 31 March 2025 | 649,759

Page 6