SOUTH STREET CAPITAL (UK) LIMITED


Directors	GOLDSPINK, Helen Ann
	HARRISON-TOPHAM, James Richard Jarratt
	THESIGER, Anthony Martin


Registered Address	York House
	Thornfield Business Park
	Northallerton
	DL6 2XQ


Registered Number	08871948 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Investments	3		1		1
			1		1
Current assets
Debtors	4	500,321		458,134
Cash at bank and on hand		907,623		1,899,667
		1,407,944		2,357,801
Creditors amounts falling due within one year	5	(25,292)		(659,380)
Net current assets (liabilities)			1,382,652		1,698,421
Total assets less current liabilities			1,382,653		1,698,422
Net assets			1,382,653		1,698,422
Capital and reserves
Called up share capital			63		100
Share premium			240,179		-
Other reserves			50		-
Profit and loss account			1,142,361		1,698,322
Shareholders' funds			1,382,653		1,698,422

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 June 2026, and are signed on its behalf by:

HARRISON-TOPHAM, James Richard Jarratt
Director
Registered Company No. 08871948

SOUTH STREET CAPITAL (UK) LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or 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.

Turnover policy

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/or 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.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

	Trade and other 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.

Trade and other 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.

	Trade and other 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.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	6		6

3.	Fixed asset investments
	Fixed asset investments relate to shares held in subsidiaries. On 3 March 2025, shares in South Street Capital (Holdings) Ltd were disposed for £Nil proceeds therefore the £30,700 investment has been written off to the profit and loss account in 2025. The company was dissolved on 10 March 2026.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 25	1	1
At 31 March 26	1	1
Net book value
At 31 March 26	1	1
At 31 March 25	1	1

	Notes
	¹Investments in group undertakings and participating interests

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	4,087	1,450
Amounts owed by group undertakings	177,121	117,062
Other debtors	10,504	35,280
Prepayments and accrued income	308,609	304,342
Total	500,321	458,134

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	125	326
Taxation and social security	3,244	637,313
Accrued liabilities and deferred income	21,923	21,741
Total	25,292	659,380

6.	Related party transactions
	During the year, the company was charged a management fee of £1,089,915 (2025: £2,913,750) by South Street Capital (Services) Ltd. As at 31 March 2026, the company was owed £175,731 (2025: £117,062) by South Street Capital (Services) Ltd. As at 31 March 2026, the controlling party, Penhill Investments Limited, owed the company £1,390. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

Related party transactions

During the year, the company was charged a management fee of £1,089,915 (2025: £2,913,750) by South Street Capital (Services) Ltd. As at 31 March 2026, the company was owed £175,731 (2025: £117,062) by South Street Capital (Services) Ltd. 

As at 31 March 2026, the controlling party, Penhill Investments Limited, owed the company £1,390.

No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

7.	Controlling party
	This company's parent undertaking and controlling party is Penhill Investments Limited, a company registered in England and Wales, company number 07141524.

8.	Parent-subsidiary relationships
	As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone.