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Registration number: 07373151

Southgate London Properties Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Southgate London Properties Ltd

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Southgate London Properties Ltd

(Registration number: 07373151)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 5 | 10,500,000 | 10,500,000
Current assets |  |  |
Debtors | 6 | 1,152,920 | 1,148,818
Cash at bank and in hand |  | 5,973 | 2,876
|  | 1,158,893 | 1,151,694
Creditors: Amounts falling due within one year | 7 | (1,922,503) | (1,823,758)
Net current liabilities |  | (763,610) | (672,064)
Total assets less current liabilities |  | 9,736,390 | 9,827,936
Creditors: Amounts falling due after more than one year | 7 | (6,138,302) | (6,160,957)
Provisions for liabilities |  | (1,315,415) | (1,315,415)
Net assets |  | 2,282,673 | 2,351,564
Capital and reserves |  |  |
Called up share capital | 8 | 1,000 | 1,000
Other reserves |  | 4,317,641 | 4,317,641
Retained earnings |  | (2,035,968) | (1,967,077)
Shareholders' funds |  | 2,282,673 | 2,351,564

Southgate London Properties Ltd

(Registration number: 07373151)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2026

......................................... Mr Theoharis Philippou Director

Southgate London Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3rd Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
United Kingdom

These financial statements were authorised for issue by the director on 24 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared on a going basis the validity of which is based upon the continued support of the companys creditors.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received for rent in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Depreciation

Asset class | Depreciation method and rate
Investment Property | Nil

Southgate London Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Deferred taxation | - | 315,700

5 | Investment properties

| 2025 £
At 1 April | 10,500,000
At 31 March | 10,500,000

Southgate London Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The investment properties class of fixed assets was revalued by the director of the company. The basis for this valuation was market value. The current value of the investment property is £10,500,000 (2024: £10,500,000).

6 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 360 | 360
Amounts owed by related parties |  | 1,111,068 | 1,111,068
Prepayments |  | 9,017 | 4,915
Other debtors |  | 32,475 | 32,475
|  | 1,152,920 | 1,148,818

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 11 | 655,376 | 655,376
Trade creditors |  | 58,067 | 76,551
Taxation and social security |  | 46,694 | 45,718
Accruals and deferred income |  | 21,419 | 21,562
Other creditors |  | 1,140,947 | 1,024,551
|  | 1,922,503 | 1,823,758

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 11 | 6,138,302 | 6,160,957

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 1,000 | 1,000 | 1,000 | 1,000

Southgate London Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9 | Financial commitments, guarantees and contingencies

The company has provided security for a loan held in W Residence Limited.

10 | Parent and ultimate parent undertaking

The company's immediate parent is Yogo Group Limited, incorporated in England.

11 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 6,138,302 | 6,160,957

Bank loans have been secured against the company’s assets and a personal guarantee from the shareholders of the parent company Yogo Group Limited.