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Registered number: 05182692
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South Shore One Limited
Financial statements
Information for filing with the registrar
31 March 2025
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Balance sheet
At 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Investment property reserve
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1
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Balance sheet (continued)
At 31 March 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2025.
Company registered number: 05182692
The notes on pages 3 to 5 form part of these financial statements.
2
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Notes to the financial statements
Year ended 31 March 2025
South Shore One Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Hub 1 The Innovation Centre, Venture Court, Queens Meadow Business Park, Hartlepool, TS25 5TG.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 4 (2024: 4).
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3
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Notes to the financial statements
Year ended 31 March 2025
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Freehold investment property
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The 2025 valuations were made by Cluttons, on an open market value for existing use basis.
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If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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4
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Notes to the financial statements
Year ended 31 March 2025
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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The company is party to a multilateral guarantee with Mowden Park Estate Company Limited (parent company) to support that company’s borrowings from its bankers. At 31 March 2025, amounts covered by this guarantee were £7,290,455 (2024: £nil).
The company is also party to a multilateral guarantee alongside Mowden Park Estate Company Limited (parent company) to support the borrowings of The YW Investment Company Limited from its bankers. At 31 March 2025, amounts covered by this guarantee were £2,125,000 (2024: £9,775,000).
The company is a wholly owned subsidiary of Mowden Park Estate Company Limited, there is no one ultimate controlling party.
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