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COMPANY REGISTRATION NUMBER: 05573041
South Somerset Mortgages Limited
Unaudited Financial Statements
31 May 2023
South Somerset Mortgages Limited
Statement of Financial Position
31 May 2023
2023
2022
£
£
£
Fixed assets
5,152
12,919
-------
--------
Current assets
100,639
107,485
Creditors: amounts falling due within one year
15,198
15,757
---------
---------
Net current assets
85,441
91,728
--------
---------
Total assets less current liabilities
90,593
104,647
Creditors: amounts falling due after more than one year
55,765
65,765
Accruals and deferred income
53,532
49,054
--------
---------
(18,704)
(10,172)
--------
---------
Capital and reserves
( 18,704)
( 10,172)
--------
--------
Notes to the financial statements
1. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
2. Directors' advances, credits and guarantees
During the year the company loaned P Fenton £55,000. Interest has been charged at the official rate. The loan has been repaid in full within nine months of the year end.
3. Security
Included in creditors due within one year and after one year is a Coronavirus Bounce Back loan which is secured under the Government Scheme.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
Mr PRC Fenton
Director
Company registration number: 05573041
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 34 Fore Street, Chard, Somerset, TA20 1PT.