Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 950,000 | 1,049,000 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 28,220 | 22,177 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (18,835) | (31,847) | ||
| Total assets less current liabilities | 931,165 | 1,017,153 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Southbourne Property Holding Company Limited (registered number:
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C W D Macey
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Southbourne Property Holding Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Wood End, Gods Blessing Lane, Holt, Wimborne, Dorset, BH21 7DE.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted. The deferred tax charge has been updated to reflect the revaluation of the properties and also the increase in Corporation Tax rates as at 1 April 2023 to 25%.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2025 |
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| Fair value movement | (99,000) |
| As at 31 March 2026 |
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Valuation
The directors have valued the properties as at 31 March 2026 at £950,000, being consistent with an independent valuation obtained on the properties. The directors are of the opinion that the investment properties are valued at fair value.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2026 | 2025 | ||
| £ | £ | ||
| Historic cost | 67,814 | 67,814 |
| 2026 | 2025 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Other taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Bank loans |
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| Amounts owed to Group undertakings |
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| £ | £ | ||
| At the beginning of financial year | (
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| Credited to the Statement of Income and Retained Earnings |
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| At the end of financial year | (
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| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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The company is jointly controlled by CWD Macey and JA Trafford as Trustees of the VT Insley- Fox Will Trust and Mrs JPS Prichard.
| 2026 | 2025 | ||
| £ | £ | ||
| Distributable reserves | (51,273) | (78,417) | |
| Non-distributable reserves | 674,972 | 749,222 | |
| 623,699 | 670,805 |
Included in the profit and loss reserves is £674,972 (2025 - £749,222) of non-distributable reserves.