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Company No: 12065218 (England and Wales)

# SB HOUSING (SOUTH WEST) LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

SB HOUSING (SOUTH WEST) LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

SB HOUSING (SOUTH WEST) LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 30 June 2025
SB HOUSING (SOUTH WEST) LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 535,702 |  | 535,884
|  | 535,702 |  | 535,884
Current assets |  |  |  |
Debtors | 4 | 0 |  | 337
Cash at bank and in hand |  | 23,502 |  | 12,428
|  | 23,502 |  | 12,765
Creditors: amounts falling due within one year | 5 | ( 500,733) |  | ( 500,064)
Net current liabilities |  | (477,231) |  | (487,299)
Total assets less current liabilities |  | 58,471 |  | 48,585
Provision for liabilities | 6 | ( 310) |  | ( 345)
Net assets |  | 58,161 |  | 48,240
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1,000 |  | 1,000
Profit and loss account |  | 57,161 |  | 47,240
Total shareholders' funds |  | 58,161 |  | 48,240

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of SB Housing (South West) Limited (registered number: 12065218) were approved and authorised for issue by the Board of Directors on 03 October 2025. They were signed on its behalf by:

Victoria Anne Whitney-Lewin Director |

SB HOUSING (SOUTH WEST) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
SB HOUSING (SOUTH WEST) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

SB Housing (South West) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom. The principal place of business is Maidencombe Manor, Claddon Lane, Maidencombe, Torquay, TQ1 4TB.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Fixtures and fittings | 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 4

#### 3. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 July 2024 | 534,068 |  | 2,911 |  | 536,979
At 30 June 2025 | 534,068 |  | 2,911 |  | 536,979
Accumulated depreciation |  |  |  |  |
At 01 July 2024 | 0 |  | 1,095 |  | 1,095
Charge for the financial year | 0 |  | 182 |  | 182
At 30 June 2025 | 0 |  | 1,277 |  | 1,277
Net book value |  |  |  |  |
At 30 June 2025 | 534,068 |  | 1,634 |  | 535,702
At 30 June 2024 | 534,068 |  | 1,816 |  | 535,884

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Corporation tax | 0 |  | 337

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 0 |  | 728
Amounts owed to directors | 63,925 |  | 247,203
Accruals | 3,179 |  | 2,639
Taxation and social security | 2,418 |  | 1,560
Other creditors | 431,211 |  | 247,934
| 500,733 |  | 500,064

#### 6. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 345) |  | ( 383)
Credited to the Statement of Income and Retained Earnings | 35 |  | 38
At the end of financial year | ( 310) |  | ( 345)

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 A ordinary shares of £ 1.00 each | 1,000 |  | 1,000

#### 8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

| 2025 |  | 2024
| £ |  | £
SBSC Limited - a company under common control | 431,211 |  | 247,934

The above balance represents amounts owed to the company at the year end. No interest is charged on this balance and there is no fixed date of repayment.

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Mr D and Mrs J Whitney | 64,923 |  | 248,201
Mrs V Whitney-Lewin | (499) |  | (499)
Mr A Whitney | (499) |  | (499)

The above balances represents amounts owed to / (amounts owed from) the company at the year end. No interest is charged on the above and there is no fixed date for repayment.