Southrope Developments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 02564828

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,975,000		6,975,000
Investments	5		242,419		226,002

			7,217,419		7,201,002
CURRENT ASSETS
Stocks	6	567,294		543,222
Debtors	7	375,263		688,516
Cash at bank and in hand		1,933,487		1,462,534

		2,876,044		2,694,272
Creditors: Amounts Falling Due Within One Year	8	(618,746 )		(752,582 )

NET CURRENT ASSETS (LIABILITIES)			2,257,298		1,941,690

TOTAL ASSETS LESS CURRENT LIABILITIES			9,474,717		9,142,692

Creditors: Amounts Falling Due After More Than One Year	9		(245,438 )		(245,438 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(668,608 )		(668,608 )

NET ASSETS			8,560,671		8,228,646

CAPITAL AND RESERVES
Called up share capital			265,002		265,002
Fair value reserve	10		2,442,214		2,442,214
Profit and Loss Account			5,853,455		5,521,430

SHAREHOLDERS' FUNDS			8,560,671		8,228,646

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Southrope Developments Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs S F C L Jervoise Director	Mr J T L Jervoise Director
26 October 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Southrope Developments Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 02564828 . The registered office is Herriard Park Estate Office, Nr Basingstoke, Hampshire, RG25 2PL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.4. Investment Properties

Investment property is shown at fair value, as estimated by the directors at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

2.5. Stocks and Work in Progress

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs

in bringing stocks to their present location and condition.

2.6. Financial Instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classified as basic financial instruments and are recognised at transaction price less any impairment. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Other debtors and creditors are measured at amortised cost using the effective interest rate method.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with 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. Equity instruments issued by the company are recorded at the proceeds received.

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Southrope Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Taxation

The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax is only adjusted if the change in the timing difference is material.

2.8. Investments

Interests in subsidiaries, associates and jointly controlled entities are initially measure at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Listed investments

All investments are carried at cost. They are not revalued unless there is an active market in which a valuation can be reliably determined.

2.9. Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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Southrope Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

4. Tangible Assets

	Investment Properties
	£
Cost or Valuation
As at 1 April 2025	6,975,000

As at 31 March 2026	6,975,000

Net Book Value
As at 31 March 2026	6,975,000

As at 1 April 2025	6,975,000

5. Investments

	Subsidiaries	Listed	Unlisted	Total
	£	£	£	£
Cost or Valuation
As at 1 April 2025	201,000	-	25,002	226,002
Additions	-	19,882	-	19,882
Revaluations	-	(3,465 )	-	(3,465 )

As at 31 March 2026	201,000	16,417	25,002	242,419

Provision
As at 1 April 2025	-	-	-	-

As at 31 March 2026	-	-	-	-

Net Book Value
As at 31 March 2026	201,000	16,417	25,002	242,419

As at 1 April 2025	201,000	-	25,002	226,002

Worting Business Park Limited

The company holds 100% of the share capital in Worting Business Park Limited.

Profit for the year: £61,124

Capital and reserves: £488,707

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Southrope Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Stocks

	2026	2025
	£	£
Work in progress	567,294	543,222

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	26,167	31,166
Other debtors	349,096	657,350

	375,263	688,516

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	5,588	4,643
Amounts owed to group undertakings	426,297	336,297
Other creditors	64,991	66,330
Taxation and social security	121,870	345,312

	618,746	752,582

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Other loans	245,438	245,438

10. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 April 2025	2,442,214	5,521,430
Profit for the year and total comprehensive income	-	332,025

As at 31 March 2026	2,442,214	5,853,455

11. Related Party Transactions

As at 31 March 2026, a balance of £245,438 (2025 : £245,438) was due to a director which has not been concluded under normal market conditions.

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