REGISTERED NUMBER: 05116627 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MOSAIC (SOUTHSEA) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J G P Campling

S J Pope

REGISTERED OFFICE:

Ridge Court

The Ridge

Epsom

Surrey

KT18 7EP

REGISTERED NUMBER:

05116627 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

CURRENT ASSETS

Stocks

880,951

880,951

Debtors

4

1,290

1,861

Cash at bank

5

2,028

1,967

884,269

884,779

CREDITORS

Amounts falling due within one year

6

4,653

4,826

NET CURRENT ASSETS

879,616

879,953

TOTAL ASSETS LESS CURRENT LIABILITIES

879,616

879,953

CREDITORS

Amounts falling due after more than one year

7

914,578

908,352

NET LIABILITIES

(34,962

)

(28,399

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(34,963

)

(28,400

)

SHAREHOLDER FUNDS

(34,962

)

(28,399

)

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 11 December 2025 and were signed on its behalf by:

S J Pope - Director

1.	STATUTORY INFORMATION

Mosaic (Southsea) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 05116627 and its registered office is Ridge Court, The Ridge, Epsom, Surrey, KT18 7EP.

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 as modified by the revaluation of certain assets.

The financial statements are presented in Sterling (£), which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key source of estimation uncertainty that has a significant effect on the amounts recognised in the financial statements is the valuation of property held within stock. Stock is valued at the lower of cost and net realisable value. The net realisable value of development properties held as stock is assessed annually by the directors. As part of the assessment the directors estimate the future sales price of developments. The directors have used their knowledge of the market and pre-sale agreements when completing their estimation.

Revenue

Revenue represents income receivable, recognised on a time basis, from the company's property held in stock, excluding value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Going concern

The financial statements have been prepared on the basis that the company is a going concern. The company's ability to continue as a going concern is dependent upon the support provided by the parent undertaking. The directors have received assurances that no repayment of the loan provided by the parent undertaking will be requested for at least the next twelve months from the date of approval of these financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

756

1,178

Prepayments and accrued income

534

683

1,290

1,861

5.	CASH AT BANK

2025

2024

£

£

Bank deposit account

2,028

1,967

Cash at bank is held in a ringfenced account that cannot be accessed by the company. The only permitted use is to repay a tenant deposit recognised in other creditors.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

193

-

Other creditors

2,028

1,967

Accruals and deferred income

2,432

2,859

4,653

4,826

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Loan from parent undertaking

914,578

908,352

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

9.	CONTINGENT LIABILITIES

The shares of the company and the property held by the company are charged as security for the bank borrowings of the parent undertaking.