4 Summit Ltd Filleted Accounts Cover
4 Summit Ltd
Company No. 05358923
Information for Filing with The Registrar
28 February 2023
4 Summit Ltd Balance Sheet Registrar
at
28 February 2023
Company No.
05358923
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
22,027116,726
22,027116,726
Current assets
Debtors
5
321,172281,832
Cash at bank and in hand
296,009171,538
617,181453,370
Creditors: Amount falling due within one year
6
(285,339)
(210,529)
Net current assets
331,842242,841
Total assets less current liabilities
353,869359,567
Creditors: Amounts falling due after more than one year
7
(205,454)
(320,012)
Net assets
148,41539,555
Capital and reserves
Called up share capital
1,0001,000
Profit and loss account
8
147,41538,555
Total equity
148,41539,555
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 28 February 2023 the company was entitled to exemption from audit 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 28 February 2023
And signed on its behalf by:
D.L. Kirby
Director
28 February 2023
4 Summit Ltd Notes to the Accounts Registrar
for the year ended 28 February 2023
1
General information
Its registered number is: 05358923
Its registered office is:
Unit 3 Brazil Close
Beddington
Croydon
CR0 4XQ
The functional and presentational currency of the company is Sterling . The monetary amounts in the accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
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.
2
Accounting policies
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Furniture, fittings and equipment
25% Reducing balance
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.
respectively.
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.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
1612
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 March 2022
86,40074,72960,561221,690
Additions
--24,44824,448
Transfers
(86,400)
(74,729)
-
(161,129)
At 28 February 2023
--85,00985,009
Depreciation
At 1 March 2022
21,60041,63441,730104,964
Charge for the year
--21,25221,252
Transfers
(21,600)
(41,634)
-
(63,234)
At 28 February 2023
--62,98262,982
Net book values
At 28 February 2023
--22,02722,027
At 28 February 2022
64,80033,09518,831116,726
5
Debtors
2023
2022
£
£
Trade debtors
137,199179,526
Amounts owed by group undertakings
121,433-
VAT recoverable
-43,026
Other debtors
62,54059,280
321,172281,832
6
Creditors amounts falling due within one year:
2023
2022
£
£
Trade creditors
248,273173,238
Other taxes and social security
21,97412,732
Loans from directors
1,6359,297
Other creditors
11,95613,760
Accruals and deferred income
1,5011,502
285,339210,529
7
Creditors amounts falling due after more than one year:
2023
2022
£
£
Bank loans and overdrafts
179,827216,402
Obligations under finance lease and hire purchase contracts
25,627103,610
205,454320,012
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
152,000
119,000
152,000
119,000
Dividends by type:
Equity dividends
152,000119,000
152,000
119,000
10
Related party disclosures
At the balance sheet date £1,635 was owed to the director by the company.
Controlling party
Immediate controlling party
No single party controls the company
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