REGISTERED NUMBER: 11837608 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SOUTH DOWNS ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S J Kerassitis

REGISTERED OFFICE:

Runway East

50 New England Street

Brighton

BN1 4AW

REGISTERED NUMBER:

11837608 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

4

19,094

25,460

Investment property

5

584,168

584,168

603,262

609,628

CURRENT ASSETS

Debtors

6

979

2,273

CREDITORS

Amounts falling due within one year

7

624,522

638,982

NET CURRENT LIABILITIES

(623,543

)

(636,709

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,281

)

(27,081

)

PROVISIONS FOR LIABILITIES

4,774

6,365

NET LIABILITIES

(25,055

)

(33,446

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(25,155

)

(33,546

)

(25,055

)

(33,446

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2026 and were signed by:

S J Kerassitis - Director

1.	STATUTORY INFORMATION

South Downs Estates Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Accounting Basis

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the year the company made a profit of £8,391, and as at the year end the current liabilities exceeded current assets by £623,543.

The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support.

Turnover

Turnover is recognised at the fair value of rental income received or receivable in the normal course of business, and is shown net of VAT (where applicable) and other sales related taxes. The fair value of consideration takes into account any settlement discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

The gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

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 (which, in the opinion of the director, approximates to its cost) at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

The financial statements have been prepared on a going concern basis, not withstanding the company's net liabilities, as the director of the company confirms that there is adequate working capital for at least 12 months from the date of approval of these accounts. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2025

and 31 December 2025

84,795

DEPRECIATION

At 1 January 2025

59,335

Charge for year

6,366

At 31 December 2025

65,701

NET BOOK VALUE

At 31 December 2025

19,094

At 31 December 2024

25,460

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

584,168

NET BOOK VALUE

At 31 December 2025

584,168

At 31 December 2024

584,168

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

75

Other debtors

979

2,198

979

2,273

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

214,724

216,955

Trade creditors

1,285

13,611

Amounts owed to group undertakings

393,954

392,170

Taxation and social security

4,109

3,262

Other creditors

10,450

12,984

624,522

638,982

In the previous year, the company converted the bank loan to a bank overdraft facility. The overdraft is repayable on demand and interest is charged at a rate of 3.85% per annum.

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of KPP Ventures Limited, a company incorporated in England and Wales.