REGISTERED NUMBER: 01351156 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2025

for

South West Land Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P A Burnett-Hitchcock

J N Burnett-Hitchcock

C D Burnett-Hitchcock

R Creswell

B J Eaton

SECRETARY:

Mrs P A Burnett-Hitchcock

REGISTERED OFFICE:

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

BUSINESS ADDRESS:

2 St Margarets Terrace

Topsham

Exeter

Devon

EX3 0HN

REGISTERED NUMBER:

01351156 (England and Wales)

ACCOUNTANTS:

TC Bromhead Limited

Harscombe House

1 Darklake View

Plymouth

Devon

PL6 7TL

FIXED ASSETS

Tangible assets

4

-

89

Investments

5

50

50

Investment property

6

8,945,403

8,117,068

8,945,453

8,117,207

CURRENT ASSETS

Debtors

7

69,070

253,245

Cash at bank and in hand

687,247

532,128

756,317

785,373

CREDITORS

Amounts falling due within one year

8

158,444

127,084

NET CURRENT ASSETS

597,873

658,289

TOTAL ASSETS LESS CURRENT LIABILITIES

9,543,326

8,775,496

CREDITORS

Amounts falling due after more than one year

9

(214,400

)

(214,400

)

PROVISIONS FOR LIABILITIES

(1,622,726

)

(1,470,765

)

NET ASSETS

7,706,200

7,090,331

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

4,868,176

4,882,865

Retained earnings

2,837,924

2,207,366

7,706,200

7,090,331

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

C D Burnett-Hitchcock - Director

1.	STATUTORY INFORMATION

South West Land Limited is a private company, limited by shares , registered in England and Wales. 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, (modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value). The principal accounting policies adopted are set out below.

The Financial Statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts receivable for goods and services provided in the UK.

Tangible fixed assets

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

Plant and Machinery - 20% Straight line

Fixtures, fittings & equipment - 20% Straight line

Motor vehicles - 25% Reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments in joint ventures

The entity accounts for investments in joint ventures in accordance with the cost model as allowed by FRS 102 section 15.9. Investments in joint ventures are therefore valued at cost less any accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

97,720

Disposals

(11,795

)

At 31 March 2025

85,925

DEPRECIATION

At 1 April 2024

97,631

Eliminated on disposal

(11,706

)

At 31 March 2025

85,925

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

89

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

50

NET BOOK VALUE

At 31 March 2025

50

At 31 March 2024

50

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

8,117,068

Additions

220,403

Revaluations

607,932

At 31 March 2025

8,945,403

NET BOOK VALUE

At 31 March 2025

8,945,403

At 31 March 2024

8,117,068

Investment property comprises freehold properties. The fair value of the investment property has been arrived at on the basis of the valuation carried out at the 31 March 2025 by the directors of South West Land Limited who have considerable experience and knowledge in this area. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

The change in value ("revaluation") of investment property recognised in the reporting period is included fully within the income statement as other operating income and totals £607,932 (2024: Nil).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by participating interests

12,356

8,708

Amounts owed by joint ventures

30,323

218,035

Other debtors

26,391

26,502

69,070

253,245

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Taxation and social security

119,544

114,652

Other creditors

38,900

12,432

158,444

127,084

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

214,400

214,400

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

4,882,865

Transfer between reserves

(14,689

)

At 31 March 2025

4,868,176

11.	RELATED PARTY DISCLOSURES

During the year a loan existed between the reporting entity and a joint venture in which the reporting entity owned 50% of the issued share capital. At 31st March 2025 the reporting entity was owed £30,323 (2024: £218,035) and no interest was charged on the amount outstanding.