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REGISTERED NUMBER: 02581187 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

SUMMIT LEISURE INVESTMENTS LIMITED

SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUMMIT LEISURE INVESTMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 31st July 2023







DIRECTORS: D J White
G A White





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 02581187 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

BALANCE SHEET
31st July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 71,000 71,000

CURRENT ASSETS
Debtors 5 37,947 50,204
Cash at bank 2,373 5,534
40,320 55,738
CREDITORS
Amounts falling due within one year 6 (5,084 ) (6,619 )
NET CURRENT ASSETS 35,236 49,119
TOTAL ASSETS LESS CURRENT LIABILITIES 106,236 120,119

CREDITORS
Amounts falling due after more than one
year

7

(66,455

)

(66,428

)
NET ASSETS 39,781 53,691

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 39,681 53,591
SHAREHOLDERS' FUNDS 39,781 53,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

BALANCE SHEET - continued
31st July 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 by the Board of Directors and authorised for issue on 10th April 2024 and were signed on its behalf by:





D J White - Director


SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2023


1. STATUTORY INFORMATION

Summit Leisure Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 02581187. The address of the registered office is 1 City Road East, Manchester, M15 4PN. The principal place of business is Loretta Place, Cheshire, SK9 1PX.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts recognised by goods and services supplied, exclusive of Value Added Tax. Revenue consists of rental income which is recognised on a straight line basis over the lease term.

Investment property
Investment properties are included in the Balance Sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

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

SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2022
and 31st July 2023 71,000
NET BOOK VALUE
At 31st July 2023 71,000
At 31st July 2022 71,000

Fair value at 31st July 2023 is represented by:
£   
Valuation in 2022 6,101
Cost 64,899
71,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 37,947 50,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,043 2,715
Taxation and social security 1,721 1,645
Other creditors 1,320 2,259
5,084 6,619

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 66,455 66,428

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 68,498 69,142

The bank loans are secured by one of the company's properties and it's associated assets.

SUMMIT LEISURE INVESTMENTS LIMITED (REGISTERED NUMBER: 02581187)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100