Company registration number 04121218 (England and Wales)
SOUTH CHINA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SOUTH CHINA LTD
COMPANY INFORMATION
Director
Mr K B Lam
Company number
04121218
Registered office
98 Bristol Road
Birmingham
West Midlands
B5 7XH
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
The Bank of East Asia Limited
Unit 15, Wing Yip Centre
278 Thimble Mill Lane
Nechells
Birmingham
B7 5HD
SOUTH CHINA LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SOUTH CHINA LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTH CHINA LTD FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South China Ltd for the year ended 31 December 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of South China Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of South China Ltd and state those matters that we have agreed to state to the b oard of d irectors of South China Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South China Ltd and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that South China Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South China Ltd. You consider that South China Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of South China Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Ormerod Rutter Limited
9 June 2026
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SOUTH CHINA LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,649
37,062
Investment property
4
445,051
445,051
474,700
482,113
Current assets
Debtors
5
10,034
15,203
Cash at bank and in hand
177,668
65,545
187,702
80,748
Creditors: amounts falling due within one year
6
(75,987)
(66,615)
Net current assets
111,715
14,133
Total assets less current liabilities
586,415
496,246
Creditors: amounts falling due after more than one year
7
-
0
(5,000)
Provisions for liabilities
9
(6,892)
(8,631)
Net assets
579,523
482,615
Capital and reserves
Called up share capital
10
10
10
Profit and loss reserves
579,513
482,605
Total equity
579,523
482,615

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

SOUTH CHINA LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 9 June 2026
Mr K B Lam
Director
Company registration number 04121218 (England and Wales)
SOUTH CHINA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
1
Accounting policies
Company information

South China Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 98 Bristol Road, Birmingham, West Midlands, B5 7XH.

1.1
Accounting convention

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services and rents provided in the normal course of business, and is shown net of VAT. The fair value of consideration for rents takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

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

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

Fixtures and fittings
20% on reducing balance
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Taxation

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

SOUTH CHINA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Current 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

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.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
1
1
SOUTH CHINA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2025 and 31 December 2025
536,350
Depreciation and impairment
At 1 January 2025
499,288
Depreciation charged in the year
7,413
At 31 December 2025
506,701
Carrying amount
At 31 December 2025
29,649
At 31 December 2024
37,062
4
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
445,051

The director has assessed the market value of the properties and considers that there has been no significant change in the market value at the year end.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
10,034
15,203
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,000
10,000
Trade creditors
11,958
33,984
Taxation and social security
47,650
2,455
Other creditors
11,379
20,176
75,987
66,615
SOUTH CHINA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
5,000
8
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Bank loans
5,000
15,000
Bank loans are secured by way of a government-backed guarantee.
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
6,892
8,631
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
8
8
8
8
Ordinary Deferred of £1 each
1
1
1
1
Ordinary Preferred of £1 each
1
1
1
1
10
10
10
10
11
Ultimate controlling party

The ultimate controlling party is Mr K B Lam.

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