| SPC Southampton Property Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SPC Southampton Property Limited for the year ended 31 December 2025 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SPC Southampton Property Limited for the year ended 31 December 2025 which comprise of the Profit and Loss Account, 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance |
| Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF. |
|
| Cochrane & Co Accountants Limited |
| Chartered Accountants |
| 38 Kings Road |
| Lee-on-the-Solent |
| Hampshire |
| PO13 9NU |
|
| 21 September 2026 |
|
| SPC Southampton Property Limited |
| Registered number: |
11110773 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
870,000 |
|
|
947,500 |
|
| Current assets |
| Debtors |
4 |
|
138,884 |
|
|
105,137 |
| Cash at bank and in hand |
|
|
- |
|
|
442 |
|
|
|
138,884 |
|
|
105,579 |
|
| Creditors: amounts falling due within one year |
5 |
|
(530,236) |
|
|
(478,802) |
|
| Net current liabilities |
|
|
|
(391,352) |
|
|
(373,223) |
|
| Total assets less current liabilities |
|
|
|
478,648 |
|
|
574,277 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(557,686) |
|
|
(574,242) |
|
|
|
| Net (liabilities)/assets |
|
|
|
(79,038) |
|
|
35 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
(79,039) |
|
|
34 |
|
| Shareholder's funds |
|
|
|
(79,038) |
|
|
35 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr S P Calvert |
| Director |
| Approved by the board on 21 September 2026 |
|
| SPC Southampton Property Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Rental income |
|
Rental income and service charges represent rental, insurance and service charge income receivable, net of value added tax and service charges and insurance paid. |
|
|
Investment properties |
|
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss.
The methods and significant assumptions used to ascertain the fair value of £870,000 and fair value movement of -£77,500 included in the profit and loss for the year are as follows;
As permitted by FRS 102, the director has valued the properties at 31.12.25 based on his knowledge of the market. |
|
|
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. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Going concern |
|
Despite the net liability position, the director has no concerns over the future of the company and as such has prepared the accounts on a going concern basis. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2025 |
947,500 |
|
Revaluation |
(77,500) |
|
At 31 December 2025 |
870,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2025 |
870,000 |
|
At 31 December 2024 |
947,500 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
924,216 |
|
924,216 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
924,216 |
|
924,216 |
|
Investment property is revalued annually by the director. The basis of valuation is outlined in the accounting policy. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
138,884 |
|
105,137 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
13,779 |
|
10,794 |
|
Other creditors |
516,457 |
|
468,008 |
|
|
|
|
|
|
530,236 |
|
478,802 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
557,686 |
|
574,242 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
501,641 |
|
515,316 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
571,361 |
|
585,036 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured on the property it relates to. |
|
| 8 |
Controlling party |
|
|
The company is controlled by the director. |
|
| 9 |
Other information |
|
|
SPC Southampton Property Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Ridgemount House |
|
Romsey Road |
|
Ower |
|
Romsey |
|
SO51 6AE |