REGISTERED NUMBER: 08993556 (England and Wales)

Unaudited Financial Statements

for the Period 29 November 2024 to 31 March 2025

for

Southcott Homes (Fareham) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A D Southcott

REGISTERED OFFICE:

The Gables Calcot Mount Business Park, C

Curdridge

Southampton

Hampshire

SO32 2BN

REGISTERED NUMBER:

08993556 (England and Wales)

ACCOUNTANTS:

Talbot Accounting Solutions LLP

Bartley Cottage

Ringwood Road

Bartley

Southampton

Hampshire

SO40 7LD

FIXED ASSETS

Tangible assets

4

471

47,356

CURRENT ASSETS

Debtors

5

362,926

2,250,177

Cash at bank

16,533

4,397

379,459

2,254,574

CREDITORS

Amounts falling due within one year

6

304,142

218,651

NET CURRENT ASSETS

75,317

2,035,923

TOTAL ASSETS LESS CURRENT LIABILITIES

75,788

2,083,279

CREDITORS

Amounts falling due after more than one year

7

36,710

36,732

NET ASSETS

39,078

2,046,547

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

39,077

2,046,546

39,078

2,046,547

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

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

The director acknowledges his 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 director and authorised for issue on 23 December 2025 and were signed by:

Mr A D Southcott - Director

1.	STATUTORY INFORMATION

Southcott Homes (Fareham) Ltd 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.

Turnover

Turnover relates to the sale of houses (recognised on exchange of contracts) and of land (recognised on exchange of contracts). The recognition of Housing Association turnover is dependent on the stage of completion agreed between Southcott Homes (Fareham) Limited and the Housing Association.

Tangible fixed assets

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

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation

Taxation for the period 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 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29 November 2024

101,864

Disposals

(68,875

)

At 31 March 2025

32,989

DEPRECIATION

At 29 November 2024

54,508

Charge for period

6,708

Eliminated on disposal

(28,698

)

At 31 March 2025

32,518

NET BOOK VALUE

At 31 March 2025

471

At 28 November 2024

47,356

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

28.11.24

£

£

Trade debtors

1,931

3,608

Amounts owed by group undertakings

-

1,885,283

Other debtors

360,995

361,286

362,926

2,250,177

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

28.11.24

£

£

Hire purchase contracts

4,140

23,674

Trade creditors

29,316

50,346

Taxation and social security

4,498

521

Other creditors

266,188

144,110

304,142

218,651

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

28.11.24

£

£

Hire purchase contracts

36,710

36,732