REGISTERED NUMBER: 00566082

Somerlee Homes Limited

Unaudited Financial Statements

for the Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

C N Wimborne

D C Wimborne

Secretary:

D C Wimborne

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

00566082

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

3

42,767

50,528

Investment property

4

110,100

110,100

152,867

160,628

Current assets

Debtors

5

1,260,063

1,285,832

Cash at bank

119,661

162,782

1,379,724

1,448,614

Creditors

Amounts falling due within one year

6

23,500

9,500

Net current assets

1,356,224

1,439,114

Total assets less current liabilities

1,509,091

1,599,742

Provisions for liabilities

7

20,919

20,919

Net assets

1,488,172

1,578,823

Capital and reserves

Called up share capital

8

120

120

Capital redemption reserve

9

-

500,000

Retained earnings

9

1,488,052

1,078,703

Shareholders' funds

1,488,172

1,578,823

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

C N Wimborne - Director

1.	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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Investment property

Investment properties are included in the Balance Sheet at their fair value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

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.

2.	Employees and directors

The average number of employees during the year was 1 (2024 - 1 ) .

3.	Tangible fixed assets

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Cost

At 1 June 2024

10,020

89,937

99,957

Additions

3,279

-

3,279

At 31 May 2025

13,299

89,937

103,236

Depreciation

At 1 June 2024

4,773

44,656

49,429

Charge for year

1,984

9,056

11,040

At 31 May 2025

6,757

53,712

60,469

Net book value

At 31 May 2025

6,542

36,225

42,767

At 31 May 2024

5,247

45,281

50,528

4.	Investment property

Total

£

Fair value

At 1 June 2024

and 31 May 2025

110,100

Net book value

At 31 May 2025

110,100

At 31 May 2024

110,100

The valuations were made by directors, on an open market value for existing use basis.

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Other debtors

1,260,063

1,285,832

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Other creditors

23,500

9,500

7.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Arising on capital gains

20,919

20,919

Deferred tax

£

Balance at 1 June 2024

20,919

Balance at 31 May 2025

20,919

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary shares

£1

100

100

20

Ordinary A shares

£1

20

20

120

120

9.

Reserves

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 June 2024

1,078,703

500,000

1,578,703

Deficit for the year

(60,651

)

-

(60,651

)

Dividends

(30,000

)

-

(30,000

)

Conversion of capital redemption reserve

500,000

(500,000

)

-

At 31 May 2025

1,488,052

-

1,488,052

Included within retained earnings at the year end, relating to the fair value revaluations of investment property, is £87,681 (2024: £87,681) which is not distributable.

10.	Related party disclosures

At the balance sheet date, the company owed £1,240,053 (2024: £1,315,500) from related companies under common ownership. Management charges of £15,000 (2024: £15,000) were incurred from related companies in the year.

During the year, directors received dividends totalling £30,000 (2024: £30,000).