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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

South Brixton Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is River House, 1 Maidstone Road, Sidcup, Kent, United Kingdom, DA14 5RH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover comprises of rental income receivable by the company in respect of its residential housing stock held with the intention of development and resale, together with proceeds arising from property sales usually when the properties have been fully developed.

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Stocks comprise the cost to date of acquiring and developing the company's housing stock held for development, interim rental and resale. The directors make downward adjustments to below cost should they believe a property's expected selling price to be lower than cost in the light of their assessment of prevailing market conditions at the balance sheet date.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, any bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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.

The company's holdings of listed investments are self-managed by the directors and intentionally only held for the short-term (< 12 months), with dividends and interest being recognised when received. The investments are considered to be basic financial assets and are measured at transaction price with no fair value adjustment at the balance sheet date.

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, including creditors and bank loans, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (only including directors with service contracts) employed by the company during the year was:

Included in Other debtors at 31 August 2025 was a total of £156,144 which the directors believe the company is unlikely to receive within 12 months of the balance sheet date.

At 31 August 2025, the listed investments were measured at original transaction price in accordance with accounting policy 2.6. The market value of the investments at that date was £788,522.

Included in Other Creditors at the balance sheet date was a total amount of £218,450 (2024: £204,850), which, whilst payable on demand, the directors anticipate will be paid in more than 12 months of the balance sheet date.

At 31 August 2025 the company had total mortgage loan liabilities amounting to £958,854 (2024: £678,587) which were secured on specific properties held by the company for development and ultimate resale. The current liability element of capital repayable (£36,000) is shown within Creditors: amounts falling due within one year.

There was also an outstanding legal charge on one of the company’s mortgaged properties, and at 31 August 2025 and 2024 this amounted to £30,500.

Dividends totalling £19,400 (2024 - £15,500) were payable in the year in respect of shares held by the company's directors.

At the balance sheet date one of the directors owed the company £462,649 (2024: company owed the director £96,363). During the year the director's loan account had an overdrawn balance exceeding £10,000, this loan was subject to interest at HMRC approved rate of 2.25% paid until 31 March 2025 and then 3.75% from 1 April 2025 onwards. Total advances, including interest, in the year amounted to £1,959,304 and total repayments amounted to £1,400,292.