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Company No: 05240373 (England and Wales)

# LANDMARK SOUTHERN LIMITED

### Unaudited Financial Statements
For the financial year ended 31 August 2025
Pages for filing with the registrar

LANDMARK SOUTHERN LIMITED

## Unaudited Financial Statements

For the financial year ended 31 August 2025

Contents

LANDMARK SOUTHERN LIMITED

## BALANCE SHEET

As at 31 August 2025
LANDMARK SOUTHERN LIMITED

## BALANCE SHEET (continued)

As at 31 August 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 5,473,877 |  | 5,486,962
|  | 5,473,877 |  | 5,486,962
Current assets |  |  |  |
Stocks | 4 | 115,240 |  | 122,740
Debtors | 5 | 865,766 |  | 781,899
Cash at bank and in hand |  | 44,183 |  | 30,319
|  | 1,025,189 |  | 934,958
Creditors: amounts falling due within one year | 6 | ( 551,963) |  | ( 731,407)
Net current assets |  | 473,226 |  | 203,551
Total assets less current liabilities |  | 5,947,103 |  | 5,690,513
Creditors: amounts falling due after more than one year | 7 | ( 2,513,634) |  | ( 2,414,505)
Provision for liabilities | 8 | ( 655,842) |  | ( 686,095)
Net assets |  | 2,777,627 |  | 2,589,913
Capital and reserves |  |  |  |
Called-up share capital | 9 | 2 |  | 2
Profit and loss account |  | 2,777,625 |  | 2,589,911
Total shareholders' funds |  | 2,777,627 |  | 2,589,913

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

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Landmark Southern Limited (registered number: 05240373) were approved and authorised for issue by the Board of Directors on 25 May 2026. They were signed on its behalf by:

Mr D J Ralls Director |

LANDMARK SOUTHERN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025
LANDMARK SOUTHERN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Landmark Southern Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Rental income, included within other operating income, is recognised in the accounting period to which it relates.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Investment property | not depreciated
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate and is assessed annually. The value is based on observable market prices, and adjusted if necessary for difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
No depreciation is provided in respect of investment properties. The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment, and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to show a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 4

#### 3. Tangible assets

| Investment property |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 September 2024 | 5,450,000 |  | 15,211 |  | 39,600 |  | 10,120 |  | 5,514,931
Disposals | 0 |  | 0 |  | ( 21,600) |  | 0 |  | ( 21,600)
At 31 August 2025 | 5,450,000 |  | 15,211 |  | 18,000 |  | 10,120 |  | 5,493,331
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 September 2024 | 0 |  | 3,826 |  | 18,350 |  | 5,793 |  | 27,969
Charge for the financial year | 0 |  | 2,846 |  | 4,779 |  | 1,082 |  | 8,707
Disposals | 0 |  | 0 |  | ( 17,222) |  | 0 |  | ( 17,222)
At 31 August 2025 | 0 |  | 6,672 |  | 5,907 |  | 6,875 |  | 19,454
Net book value |  |  |  |  |  |  |  |  |
At 31 August 2025 | 5,450,000 |  | 8,539 |  | 12,093 |  | 3,245 |  | 5,473,877
At 31 August 2024 | 5,450,000 |  | 11,385 |  | 21,250 |  | 4,327 |  | 5,486,962

Investment properties

Included within the net book value of investment properties is £5,450,000 (2024: £5,450,000) in respect of freehold land and buildings.
These have been valued by the directors on an open market basis. There has been no valuation carried out by an independent valuer.

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 115,240 |  | 122,740

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by directors | 443,867 |  | 368,639
Other debtors | 421,899 |  | 413,260
| 865,766 |  | 781,899

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 11,157 |  | 18,741
Accruals and deferred income | 55,388 |  | 52,961
Taxation and social security | 105,845 |  | 263,610
Other creditors | 379,573 |  | 396,095
| 551,963 |  | 731,407

The bank loans due in less than one year above are secured on the freehold properties of the company. As at 31 August 2025 this security totalled £11,157 (2024: £18,741).

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 2,513,634 |  | 2,414,505

The bank loans due in more than one year above are secured on the freehold properties of the company. As at 31 August 2025 this security totalled £2,513,634 (2024: £2,414,505).

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 686,095) |  | ( 712,450)
Credited to the Statement of Income and Retained Earnings | 30,253 |  | 26,355
At the end of financial year | ( 655,842) |  | ( 686,095)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
200 Ordinary shares of £ 0.01 each | 2 |  | 2

#### 10. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Directors | (443,867) |  | (368,639)

During the year to 31 August 2025, advances were made to the directors totalling £138,926 and repayments were made by the directors totalling £63,698. The balance owing to the company at 31 August 2025 was £443,867 (2024: £368,639).
The loan was subject to interest at the HMRC official rate applicable for the year and is repayable on demand.
Summary of transactions with other related parties
During the year the company had the following related part transactions:
Homewood (South West) Limited
(Related by way of its directors, Mr D J Ralls and Mr A J Ralls)
Included in other creditors is an amount owed to Homewood (South West) Limited. At the balance sheet date the amount due to Homewood (South West) Limited was £159,447 (2024: £165,947)
Mayne Investments Limited
(Related by way of its director, Mr D J Ralls and Mr A J Ralls)
Included in other debtors is an amount owing from Mayne Investments Limited.. At the balance sheet date the amount due from Mayne Investments Limited was £62,843 (2024: £62,843)
Propco South West Limited
(Related by way of its director, Mr D J Ralls and Mr A J Ralls)
Included in other creditors is an amount owing to Propco South West Limited. At the balance sheet date the amount due to Propco South West Limited was £182,367 (2024: £182,367)
K&M (South West) Limited
(Related by way of its director, Mr D J Ralls, Mr A J Ralls and Mrs M Ralls)
Included in other debtors is an amount owed by K&M (South West) Limited. At the balance sheet date the amount due by K&M (South West) Limited was £203,898 (2024: £213,898).

#### 11. Reserves

As at 31 August 2025 the company profit and loss account included £2,424,141 (2024: £2,424,141) of non-distributable reserves. This relates to revaluations on the investment properties.