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REGISTERED NUMBER: 11718714 (England and Wales)


















SUMMER PLACE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUMMER PLACE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S A Foley
D S Taylor





REGISTERED OFFICE: C/o Rumney Hill Garage
788 Newport Road
Rumney
CARDIFF
County of Cardiff
CF3 4FG





REGISTERED NUMBER: 11718714 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,179 1,356
Investment property 5 809,000 809,000
810,179 810,356

CURRENT ASSETS
Debtors 6 3,928 4,738
Cash at bank 52,447 30,677
56,375 35,415
CREDITORS
Amounts falling due within one year 7 (12,535 ) (12,367 )
NET CURRENT ASSETS 43,840 23,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

854,019

833,404

CREDITORS
Amounts falling due after more than one
year

8

(529,490

)

(529,178

)

PROVISIONS FOR LIABILITIES (50,032 ) (50,066 )
NET ASSETS 274,497 254,160

CAPITAL AND RESERVES
Called up share capital 10 2 2
Non distributable reserve 212,342 212,342
Retained earnings 62,153 41,816
SHAREHOLDERS' FUNDS 274,497 254,160

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

BALANCE SHEET - continued
30 JUNE 2023


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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





S A Foley - Director


SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Summer Place Properties 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

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

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover consists of rent receivable during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost

Investment property
Investment properties are carried at fair value. Revaluation surpluses and deficits are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold, or the deferred tax liability is settled.

Current taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Improvement
to
property
£   
COST
At 1 July 2022
and 30 June 2023 1,769
DEPRECIATION
At 1 July 2022 413
Charge for year 177
At 30 June 2023 590
NET BOOK VALUE
At 30 June 2023 1,179
At 30 June 2022 1,356

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 809,000
NET BOOK VALUE
At 30 June 2023 809,000
At 30 June 2022 809,000

The investment property was valued on a fair value basis at 30 June 2023 by the directors. In valuing the property the directors have considered future anticipated rental yields of the property.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,565 3,480
Prepayments and accrued income 1,363 1,258
3,928 4,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 4,805 4,638
Deposit payments held 6,150 6,150
Accruals and deferred income 1,580 1,579
12,535 12,367

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 212,020 212,020
Directors' loan accounts 317,470 317,158
529,490 529,178

SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 212,020 212,020

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 212,020 212,020

The bank loan is secured by way of a charge over the investment property to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2