Registered number
05765252
SOUTHGATE PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 April 2025

SOUTHGATE PROPERTY MANAGEMENT LIMITED
Report and accounts
Contents
| Page
Balance Sheet | 1
Notes to the accounts | 2 - 5

SOUTHGATE PROPERTY MANAGEMENT LIMITED
Registered number: | 05765252
Balance Sheet
as at 30 April 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Tangible assets | 3 |  |  | 5,322 |  |  | 7,641
Current assets
Debtors | 4 |  | 145,202 |  |  | 90,942
Cash at bank and in hand |  |  | 861 |  |  | 453
|  |  | 146,063 |  |  | 91,395
Creditors: amounts falling due within one year | 5 |  | (114,847) |  |  | (81,064)
Net current assets |  |  |  | 31,216 |  |  | 10,331
Total assets less current liabilities |  |  |  | 36,538 |  |  | 17,972
Creditors: amounts falling due after more than one year | 6 |  |  | (15,662) |  |  | (11,322)
Provisions for liabilities |  |  |  | (1,012) |  |  | (2,081)
Net assets |  |  |  | 19,864 |  |  | 4,569
Capital and reserves
Called up share capital |  |  |  | 100 |  |  | 100
Profit and loss account |  |  |  | 19,764 |  |  | 4,469
Shareholders' funds |  |  |  | 19,864 |  |  | 4,569
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved and authorised for issue by the board on 12 December 2025 and were signed on its behalf by:
A Christou
Director

SOUTHGATE PROPERTY MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 30 April 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are prepared in sterling, which is the functional currency of the entity.
| Turnover
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents amounts receivable for rental income from residental property lettings. Turnover is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Plant and machinery | over 5 years
| Motor vehicles | 25% reducing balance
| Financial instruments
| The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for the objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right of set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Cash and cash equivalents
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
| Judgements and key sources of estimation uncertainty
| The preparation of the financial statements required management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on the experience snd other factors, including expectations of future events that are believed to ve reasonable under the circumstances.
| Pensions
| Contributions to defined contribution plans are expensed in the period to which they relate.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 4 |  | 4
3 | Tangible fixed assets
|  |  |  | Plant and machinery etc |  | Motor vehicles |  | Total
£ | £ | £
| Cost
| At 1 May 2024 | 27,619 |  | 22,424 |  | 50,043
| At 30 April 2025 | 27,619 |  | 22,424 |  | 50,043
| Depreciation
| At 1 May 2024 | 27,074 |  | 15,328 |  | 42,402
| Charge for the year | 545 |  | 1,774 |  | 2,319
| At 30 April 2025 | 27,619 |  | 17,102 |  | 44,721
| Net book value
| At 30 April 2025 | - |  | 5,322 |  | 5,322
| At 30 April 2024 | 545 |  | 7,096 |  | 7,641
4 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 94,829 |  | 90,942
| Other debtors | 50,373 |  | -
|  |  |  |  |  | 145,202 |  | 90,942
5 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Bank loans and overdrafts | 45,619 |  | 10,213
| Trade creditors | 2,575 |  | 16,375
| Taxation and social security costs | 9,679 |  | 2,619
| Other creditors | 56,974 |  | 51,857
|  |  |  |  |  | 114,847 |  | 81,064
6 | Creditors: amounts falling due after one year | 2025 |  | 2024
£ | £
| Bank loans | 15,662 |  | 11,322
7 | Loans | 2025 |  | 2024
£ | £
| Creditors include:
| Secured bank loans | 15,662 |  | 11,322
| The bank loans and overdtafts are secured with a debenture over the assets of the company and a personal guarantee provided by the director.
8 | Loans to directors
| Description and conditions | B/fwd | Paid | Repaid | C/fwd
£ | £ | £ | £
| A Christou
| Directors current account | (7,157) |  | 158,530 |  | (101,000) |  | 50,373
|  | (7,157) |  | 158,530 |  | (101,000) |  | 50,373
| The loan due from the director attracts interest at 3% and was repaid post year end.
9 | Controlling party
| The ultimate controlling party is A Christou.
10 | Other information
| Southgate Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is 30 Winchmore Hill Road, Southgate, London N14 6PT.

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