Atlantic Lodge (Housing) Limited

Registered number

05373917

Filleted Accounts for the period ended

31 May 2025

Atlantic Lodge (Housing) Limited
Registered number:		05373917
Balance Sheet
as at 31 May 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		52,536			96,207
Investments	5		-			422,500
			52,536			518,707

Current assets
Stocks		269,067			305,058
Debtors	6	2,778,657			14,681,726
Investments held as current assets	7	-			10,913
Cash at bank and in hand		373,876			232,809
		3,421,600			15,230,506

Creditors: amounts falling due within one year	8	(2,124,033)			(12,206,055)

Net current assets			1,297,567			3,024,451

Total assets less current liabilities			1,350,103			3,543,158

Creditors: amounts falling due after more than one year	9		(1,318,696)			(86,034)


Net assets			31,407			3,457,124

Capital and reserves
Called up share capital			100			100
Profit and loss account			31,307			3,457,024

Shareholders' funds			31,407			3,457,124

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.


A Alexandrou
Director
Approved by the board on 15 May 2026

Atlantic Lodge (Housing) Limited
Notes to the Accounts
for the period from 1 September 2024 to 31 May 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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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	25% reducing balance
	Motor vehicles	25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.

	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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Going concern

	The accounts have been prepared on the going concern basis assuming the continued support of its parent company Southern Territory Limited and its creditors. Amounts owed by associated companies totalling £3,391,299 see note 10 related party transactions is uncertain in terms of recovery and have been written off as irrecoverable during the year. There are further loans made to unconnected third parties included in other debtors (see note 6) totalling £421,015 which have not yet been written down as irrecoverable, although the recovery of any of these loans is uncertain and an impairment provision may be required in the future. Should impairment for these loans be required the company will have negative reserves. The parent company Southern Territory Limited will not seek repayment of its loan for a period of at least 13 months from the year end date 31 May 2025.


3	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			26		26


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 September 2024	93,484		175,478		268,962
	Disposals	(18,615)		(110,680)		(129,295)
	At 31 May 2025	74,869		64,798		139,667

	Depreciation
	At 1 September 2024	59,384		113,371		172,755
	Charge for the period	8,900		15,527		24,427
	On disposals	(18,615)		(91,436)		(110,051)
	At 31 May 2025	49,669		37,462		87,131

	Net book value
	At 31 May 2025	25,200		27,336		52,536
	At 31 August 2024	34,100		62,107		96,207


5	Investments

Other
investments
£
	Cost
	At 1 September 2024					422,500
	Disposals					(422,500)

	At 31 May 2025					-


6	Debtors			2025		2024
£					£

	Trade debtors			2,099,675		1,847,150
	Amounts owed by associated companies			-		11,822,991
	Other loans			-		340,191
	Prepayments			129,455		97,342
	Advanced corporation tax and corporation tax refund			128,512		121,231
	Other debtors			421,015		452,821
				2,778,657		14,681,726


7	Investments held as current assets			2025		2024
£					£
	Fair value
	Unlisted investments			-		10,913



8	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			11,148		11,148
	Obligations under finance lease and hire purchase contracts			25,710		25,710
	Trade creditors			1,994,704		1,306,591
	Amounts owed to connected companies			-		10,331,404
	Taxation and social security costs			53,682		63,106
	Other creditors and accruals			38,789		468,096
				2,124,033		12,206,055


9	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			3,852		11,352
	Obligations under finance lease and hire purchase contracts			55,399		74,682
	Amounts owed to connected companies			1,259,445		-
				1,318,696		86,034


10	Related party transactions

	During the year the following "Amounts owed by connected companies" were written off as irrecoverable,totalling £3,391,299: £2,035,120 due from Friday Hill House Limited £888,377 due from STUK03 Ltd £460,441 due from Atlantic Lodge Limited £7,361 due from Skin Glow London Ltd These companies have negative reserves, and currently there is no likelihood of recoverability. Included in creditors amounts falling due after one year "Amounts owed to connected companies" are amounts of: £1,259,445 due to Southern Territory Limited There is no set repayment date and no interest is charged on these loans, although the company has agreed not to seek repayment of this loan for at least 13 months from the year end date.
	Southern Territory Limited is connected to the company by virtue of being the company's parent. For all the other companies, either individually or both together, the directors A Alexandrou and/or G Leonidas have a controlling interest in.

11	Controlling party

	The company is a wholly owned subsidiary of Southern Territory Limited, a company registered in England and Wales.


12	Other information

	Atlantic Lodge (Housing) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Atlantic Business Centre
	1 The Green
	London
	E4 7ES