Southern Investments Limited - Accounts to registrar (filleted) - small 18.2
Southern Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Southern Investments Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2021 |
| Southern Investments Limited (Registered number: 09479016) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Southern Investments Limited |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Southern Investments Limited (Registered number: 09479016) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Revaluation reserve |
| Profit and Loss account |
| SHAREHOLDERS' FUNDS |
| Southern Investments Limited (Registered number: 09479016) |
| Balance Sheet - continued |
| 31 March 2021 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Southern Investments Limited (Registered number: 09479016) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | GENERAL INFORMATION |
| Southern Investments Limited is a private company, limited by shares, registered in England and Wales. The |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| BASIS OF PREPARATION |
| These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| GOING CONCERN |
| The financial statements have been prepared on a going concern basis. |
| TANGIBLE ASSETS |
| Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and |
| installation. |
| DEPRECIATION |
| Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
| Asset class | Depreciation method and rate |
| Investment property | No depreciation charge |
| REVENUE RECOGNITION |
| Turnover represents rent receivable, which are credited to revenue in the accounting period in which they are receivable. |
| The company recognises revenue when: |
| The amount of revenue can be reliably measured; |
| it is probable that future economic benefits will flow to the entity; |
| and specific criteria have been met for each of the company's activities. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Southern Investments Limited (Registered number: 09479016) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| INVESTMENT PROPERTY |
| In accordance with the Financial Reporting Standards 102 Section 1A, investment properties for which fair value can be measured reliably without undue cost and effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. This is shown in a separate profit and loss reserve called the Investment Property Revaluation Reserve. |
| INVESTMENTS |
| Fixed asset investments are stated at fair value. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Investment |
| properties |
| £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 6. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 April 2020 |
| and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Southern Investments Limited (Registered number: 09479016) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| The investment properties class of fixed assets was valued on 31 March 2021 by N L Valentine FRICS who is a director of the company. The basis of this valuation was open market value. This class of assets has a current value of £1,474,147 [2020: £1,163,513] and a carrying amount at historical cost of £1,443,260 [2020: £1,132,626] |
| OTHER FINANCIAL ASSETS (CURRENT AND NON-CURRENT) |
| 2021 | 2020 |
| £ | £ |
| Non-current financial assets |
| Financial assets at cost less impairment | 1 | 1 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Stock market investment | 100,000 | - |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other loans (see note 10) |
| Corporation tax liability |
| Other creditors |
| Directors' current accounts | 1,546,704 | 1,542,704 |
| Accruals and deferred income |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other loans (see note 10) |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Loans and borrowings |
| Amounts falling due between one and two years: |
| Other loans - 1-2 years | 729,000 |
| Southern Investments Limited (Registered number: 09479016) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary A shares | £1 | 50 | 50 |
| Ordinary B shares | £1 | 50 | 50 |
| 100 | 100 |
| 12. | DIVIDEND |
| Interim dividends paid |
| 2021 | 2020 |
| £ | £ |
| Interim dividend of £80.00 (2020 - £80.00) per each Ordinary A & B shares | 8,000 | 8,000 |