Southern Investments Limited - Period Ending 2016-03-31

Registration number: 09479016

Southern Investments Limited
 
 Unaudited Abbreviated Accounts
 
 for the Period from 9 March 2015 to 31 March 2016

 

Westlake Clark
Chartered Accountants
118 Old Milton Road
New Milton
Hampshire
BH25 6EB

Southern Investments Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Southern Investments Limited
(Registration number: 09479016)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016
	£			£
Fixed assets
Tangible fixed assets		2						299,112
Current assets
Debtors					1,718,008
Cash at bank and in hand					274
					1,718,282
Creditors: Amounts falling due within one year					(1,600,952)
Net current assets								117,330
Total assets less current liabilities								416,442
Creditors: Amounts falling due after more than one year								(350,000)
Net assets								66,442
Capital and reserves
Called up share capital		3			100
Profit and loss account					66,342
Shareholders' funds								66,442

The directors' statements required by Section 475(2), (3) are shown on the following page which forms part of this Balance Sheet.

The notes form an integral part of these financial statements.
Page 1

Southern Investments Limited
(Registration number: 09479016)
Abbreviated Balance Sheet at 31 March 2016
......... continued

For the period ended 31 March 2016 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 Act with respect to accounting records and the preparation of accounts.

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

Approved by the Board on 28 November 2016 and signed on its behalf by:

.........................................
N L Valentine
Director

The notes form an integral part of these financial statements.
Page 2

Southern Investments Limited
Notes to the Abbreviated Accounts for the Period from 9 March 2015 to 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The directors believe that the company is well placed to manage its business risks successfully, despite the current uncertain economic outlook, and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover represents rents receivable, which are credited to revenue in the accounting period in which they are receivable.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		299,112			299,112
At 31 March 2016		299,112			299,112
Net book value
At 31 March 2016		299,112			299,112

Page 3

Southern Investments Limited
Notes to the Abbreviated Accounts for the Period from 9 March 2015 to 31 March 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary A shares of £1 each		50			50
Ordinary B shares of £1 each		50			50
		100			100

New shares allotted

During the period 50 Ordinary A shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £50.

During the period 50 Ordinary B shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £50.

Page 4