Southminster Limited Accounts

SOUTHMINSTER LIMITED - Company Information






Southminster Limited
	Company No. 03046577
		Information for Filing with The Registrar
		30 June 2020

at	30 June 2020

Company No.		03046577	Notes	2020	2019
				£	£
Fixed assets


	Investment property		3	1,550,000	1,550,000

				1,550,000	1,550,000
Current assets

	Debtors		4	407,856	378,750

	Cash at bank and in hand			48,087	27,759
				455,943	406,509
Creditors: Amount falling due within one year			5	(42,330)	(18,378)
Net current assets				413,613	388,131
Total assets less current liabilities				1,963,613	1,938,131




Net assets				1,963,613	1,938,131

Capital and reserves
	Called up share capital			2	2

	Revaluation reserve			509,766	509,766

	Profit and loss account			1,453,845	1,428,363

Total equity				1,963,613	1,938,131


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 2020 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 23 February 2021

And signed on its behalf by:


T. Edwards
Director

for the year ended 30 June 2020

Accounting policies

Basis of preparation

Southminster Limited is a private company limited by shares and incorporated in England and Wales.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred 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.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.

Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.

2	Employees
			2020	2019
			Number	Number
		The average number of persons employed during the year :	1	1

3	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 July 2019	1,550,000



		At 30 June 2020	1,550,000

		The Director values the investment property at its open market value each year. The historical cost of the property is £1,040,234.

4	Debtors
			2020	2019
			£	£
		Trade debtors	36,609	38,825



		VAT recoverable	1,322	-

		Other debtors	369,925	339,925

			407,856	378,750

5	Creditors falling due within one year

			2020	2019
			£	£




		Trade creditors	10,000	5,000

		Corporation tax	14,273	8,296

		Loans from directors	16,682	3,582

		Accruals and deferred income	1,375	1,500
			42,330	18,378

Related party disclosures

At the balance sheet date £16,682 was owed to the director by the company.

At the balance sheet date £369,925 (2019: £339,925) was owed to the company by Atlanta Estates Limited, a company under common control.

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

03046577

Its registered office is:

83 Fairlane Drive

South Ockendon

RM15 5FA