Somerstone Investments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08909750

SOMERSTONE INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D Somers

Mr P N Somers

REGISTERED OFFICE:

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

REGISTERED NUMBER:

08909750

ACCOUNTANTS:

P G ASSOCIATES

Accountants

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

FIXED ASSETS

Tangible assets

4

3,389,185

3,390,019

CURRENT ASSETS

Debtors

5

9,530

13,309

Cash at bank

10,478

12,180

20,008

25,489

CREDITORS

Amounts falling due within one year

6

1,563,085

1,643,988

NET CURRENT LIABILITIES

(1,543,077

)

(1,618,499

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,846,108

1,771,520

CAPITAL AND RESERVES

Called up share capital

7

2

Revaluation reserve

8

93,038

Retained earnings

8

1,753,068

1,678,480

SHAREHOLDERS' FUNDS

1,846,108

1,771,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2025 and were signed on its behalf by:

Mrs D Somers - Director

Mr P N Somers - Director

1.	STATUTORY INFORMATION

Somerstone Investments Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of rental income received during the period. The company is not VAT registered.

Tangible fixed assets

No provision has been made for depreciation on Freehold Investment Property held by the company. This policy will only be reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 April 2024

3,380,387

2,141

14,054

3,396,582

Additions

-

2,098

-

2,098

At 31 March 2025

3,380,387

4,239

14,054

3,398,680

DEPRECIATION

At 1 April 2024

-

842

5,721

6,563

Charge for year

-

849

2,083

2,932

At 31 March 2025

-

1,691

7,804

9,495

NET BOOK VALUE

At 31 March 2025

3,380,387

2,548

6,250

3,389,185

At 31 March 2024

3,380,387

1,299

8,333

3,390,019

Included in cost of land and buildings is freehold land of £ 3,380,387 (2024 - £ 3,380,387 ) which is not depreciated.

The properties were revalued at the 31 March 2019. The valuation were provided by the directors of the company following detailed discussions with experienced professionals within the property sector. They believe the revaluation is conservative and does not need to be reviewed further at this time.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

3,854

7,512

Prepayments

5,676

5,797

9,530

13,309

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Tax

22,091

12,449

Directors' loan accounts

1,538,594

1,629,139

Accrued expenses

2,400

1,563,085

1,643,988

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

2

Ordinary

£1

2

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 April 2024

1,678,480

93,038

1,771,518

Profit for the year

74,588

At 31 March 2025

1,753,068

93,038

1,846,106

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £1,536,222 to the directors (2024 - £1,629,138). This amount is repayable on demand and is included in Creditors due within one year.