Southern Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03246705 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2023

for

Southern Management Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

1,677

4,032

Investments

5

377

377

2,054

4,409

Current assets

Debtors

6

4,067,197

3,824,117

Cash at bank and in hand

2,648

45,275

4,069,845

3,869,392

Creditors

Amounts falling due within one year

7

2,479,532

2,260,412

Net current assets

1,590,313

1,608,980

Total assets less current liabilities

1,592,367

1,613,389

Capital and reserves

Called up share capital

1,200

1,200

Retained earnings

1,591,167

1,612,189

Shareholders' funds

1,592,367

1,613,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by:

R J Grievson - Director

1.	Statutory information

Southern Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03246705

Registered office:

Ship House

35 Battersea Square

London

SW11 3RA

2.	Accounting policies

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost and 20% on cost

Motor vehicles

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3.	Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 May 2022

and 30 April 2023

82,287

1,350

83,637

Depreciation

At 1 May 2022

78,255

1,350

79,605

Charge for year

2,355

-

2,355

At 30 April 2023

80,610

1,350

81,960

Net book value

At 30 April 2023

1,677

-

1,677

At 30 April 2022

4,032

-

4,032

5.	Fixed asset investments

Other

investment

£

Cost

At 1 May 2022

and 30 April 2023

377

Net book value

At 30 April 2023

377

At 30 April 2022

377

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Amounts owed by associates

1,169,353

1,225,177

Other debtors

2,896,567

2,596,860

Deferred tax asset

Decelerated capital allowances

593

347

Prepayments

684

1,733

4,067,197

3,824,117

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

1,634

1,634

Amounts owed to associates

2,427,697

2,175,321

Corporation tax

-

16,177

VAT

44,447

45,552

Other creditors

5,754

21,728

2,479,532

2,260,412

8.	Related party disclosures

Southern Properties (London) Limited FURBS

A retirement benefit scheme in which 3 directors are beneficiaries

2023

2022

£

£

Amount due from related party at the balance sheet date

278,670

278,650

Hungerford Investments LLP

A partnership controlled by the directors

During the year office running costs of £- (2022 - £125,000l) were recharged to the related party

2023

2022

£

£

Amount due from related party at the balance sheet date

882,135

940,135

The Creeship Partnership

A business in which RJ Grievson, CP Barrow and RJ Nevill are partners

2023

2022

£

£

Amount due to related party at the balance sheet date

90,787

89,411

Hungerford Management Limited

A company controlled by the directors

During the year office running costs of £75,000 (2022 - £75,000) were recharged to the related party

2023

2022

£

£

Amount due to related party at the balance sheet date

2,336,910

2,085,910

Risehill Limited

A company controlled by the directors

2023

2022

£

£

Amount due from related party at the balance sheet date

1,032

1,026

9.	Ultimate controlling party

The ultimate controlling party is the directors together.