Registration number: 08798670

Southgate Enterprises Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 6

Southgate Enterprises Limited

(Registration number: 08798670)
Abridged Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	67,935	97,387
Tangible assets	5	551,810	212,735
		619,745	310,122
Current assets
Stocks		2,101,122	2,519,539
Debtors		2,599,346	2,098,057
Cash at bank and in hand		1,189,323	145,839
		5,889,791	4,763,435
Creditors: Amounts falling due within one year	6	(2,046,073)	(1,139,816)
Net current assets		3,843,718	3,623,619
Total assets less current liabilities		4,463,463	3,933,741
Creditors: Amounts falling due after more than one year		(429,685)	(16,889)
Provisions for liabilities		(54,104)	(60,490)
Net assets		3,979,674	3,856,362
Capital and reserves
Called up share capital		60	60
Profit and loss account		3,979,614	3,856,302
Total equity		3,979,674	3,856,362

Southgate Enterprises Limited

(Registration number: 08798670)
Abridged Balance Sheet as at 31 December 2025

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

	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 11 September 2026 and signed on its behalf by:
 

Mr B H Mitchell

Director

Mr R J Pavey

Director

Southgate Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales (registered number: 08798670).

The address of its registered office is:
Unit 9 Southgate House
Robins Drive
Castlefield Industrial Estate
Bridgwater
Somerset
TA6 4DL

These financial statements were authorised for issue by the Board on 11 September 2026.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Southgate Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	10% straight line
Fixtures and fittings	20% straight line
Plant and machinery	20% straight line
Office equipment	20% straight line
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	12.5% straight line
Computer software	20% straight line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 49 (2024 - 49).

Southgate Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Total £
Cost or valuation
At 1 January 2025	983,918
Additions acquired separately	5,400
At 31 December 2025	989,318
Amortisation
At 1 January 2025	886,531
Amortisation charge	34,852
At 31 December 2025	921,383
Carrying amount
At 31 December 2025	67,935
At 31 December 2024	97,387

5	Tangible assets

	Total £
Cost or valuation
At 1 January 2025	839,720
Additions	465,848
Disposals	(90,985)
At 31 December 2025	1,214,583
Depreciation
At 1 January 2025	626,985
Charge for the year	114,201
Eliminated on disposal	(78,413)
At 31 December 2025	662,773
Carrying amount
At 31 December 2025	551,810
At 31 December 2024	212,735

6	Creditors: amounts falling due within one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £57,433 (2023 - £59,019).

Southgate Enterprises Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

7	Related party transactions

Mr B H Mitchell During the period Mr B H Mitchell went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £65,837 (2024 - £149,896). At the year end the amount outstanding from Mr B H Mitchell was £Nil (2024 - £65,837). Interest has been charged at the commercial rate. Mr K Mitchell During the period Mr K Mitchell went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £Nil (2024 - £6,963). At the year end the amount outstanding from Mr K Mitchell was £Nil (2024 - £Nil). Interest has been charged at the commercial rate. Mr R Pavey During the period Mr R Pavey went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £Nil (2024 - £57,548). At the year end the amount outstanding from Mr R Pavey was £Nil (2024 - £Nil). Interest has been charged at the commercial rate.

Summary of transactions with parent

Included within other debtors is an interest free loan of £1,270,794 (2024 - £340,894) which has been provided by Southgate Enterprises Limited to its parent company, and is repayable on demand.
 

8	Parent and ultimate parent undertaking

The company's immediate parent is Southgate Enterprise (Holdings) Limited, incorporated in England and Wales.

 The ultimate controlling party is Southgate Enterprise (Holdings) Limited.