REGISTERED NUMBER: 00001955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOUTHSEA CLARENCE ESPLANADE PIER COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Norman

Mr J W Norman

Mrs P J Shufflebottom

Mrs K Thurston

Mr J A W Thurston

SECRETARY:

Mrs J Norman

REGISTERED OFFICE:

Clarence Pier

Southsea

Hampshire

PO5 3AA

REGISTERED NUMBER:

00001955 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Investments

4

2,280,362

2,272,533

Investment property

5

1,250,000

1,250,000

3,530,362

3,522,533

CURRENT ASSETS

Debtors

6

20,306

42,029

Cash at bank

652,404

1,381,608

672,710

1,423,637

CREDITORS

Amounts falling due within one year

7

147,373

934,672

NET CURRENT ASSETS

525,337

488,965

TOTAL ASSETS LESS CURRENT LIABILITIES

4,055,699

4,011,498

PROVISIONS FOR LIABILITIES

8

212,312

210,251

NET ASSETS

3,843,387

3,801,247

CAPITAL AND RESERVES

Called up share capital

9

52,880

52,880

Share premium

2,073,120

2,073,120

Non-distributable reserve

10

636,936

630,755

Retained earnings

1,080,451

1,044,492

SHAREHOLDERS' FUNDS

3,843,387

3,801,247

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 and authorised for issue by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

Mrs J Norman - Director

1.	STATUTORY INFORMATION

Southsea Clarence Esplanade Pier Company 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income in respect of properties owned by the company. Rental income is recognised when the company obtains the right to consideration under the contractual agreement with the tenant.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Fixed asset investments

Investments in listed company shares, which have been classified as fixed asset investments, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the non-distributable reserve. Gains and losses on disposal are recognised in profit or loss for the period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

2,110,500

162,033

2,272,533

Disposals

-

(413

)

(413

)

Revaluations

-

8,242

8,242

At 31 March 2025

2,110,500

169,862

2,280,362

NET BOOK VALUE

At 31 March 2025

2,110,500

169,862

2,280,362

At 31 March 2024

2,110,500

162,033

2,272,533

Cost or valuation at 31 March 2025 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2023

-

3,105

3,105

Valuation in 2024

-

7,783

7,783

Valuation in 2025

-

8,242

8,242

Cost

2,110,500

150,732

2,261,232

2,110,500

169,862

2,280,362

Other investments are held in an investment fund managed by Fidelity International.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,250,000

NET BOOK VALUE

At 31 March 2025

1,250,000

At 31 March 2024

1,250,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2001

180,116

Valuation in 2009

150,000

Valuation in 2022

500,000

Cost

419,884

1,250,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

as

restated

£

£

Cost

419,884

419,884

Investment property was valued on an open market basis on 31 March 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

as

restated

£

£

Other debtors

20,306

42,029

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

as

restated

£

£

Amounts owed to group undertakings

57,355

831,630

Taxation and social security

12,965

8,247

Other creditors

77,053

94,795

147,373

934,672

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

as

restated

£

£

Deferred tax

212,312

210,251

Deferred

tax

£

Balance at 1 April 2024

210,251

Provided during year

2,061

Balance at 31 March 2025

212,312

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

as restated

£

£

42,880

Ordinary

1

10,000

42,880

10,000

Cumulative preference

1

42,880

10,000

52,880

52,880

10.

RESERVES

Non-distributable

reserve

£

At 1 April 2024

630,755

Transfer

6,181

At 31 March 2025

636,936

11.	RELATED PARTY DISCLOSURES

The aggregate amount owed to the directors at the balance sheet date is £27,695 (31.3.24: owed by £5,950).

The aggregate amount owed to group undertakings at the balance sheet date is £57,355 (31.3.24: £831,630).

The aggregate amount owed by connected entities at the balance sheet date is £20,000 (31.3.24: £Nil).

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as Southsea Clarence Esplanade Pier Company Limited is not under the control of one individual or entity.