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REGISTERED NUMBER: 07930726









SUMMERSDALE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






SUMMERSDALE LIMITED (REGISTERED NUMBER: 07930726)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUMMERSDALE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr A L Barnett
Dr J P Jackson
Dr S E M Last
Dr M H Lewis
Dr A J Pullen
Dr M R Price





REGISTERED OFFICE: Summersdale Pharmacy
8 Lavant Road
Chichester
West Sussex
PO19 5RH





REGISTERED NUMBER: 07930726





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SUMMERSDALE LIMITED (REGISTERED NUMBER: 07930726)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,297 5,221
5,297 5,221

CURRENT ASSETS
Stocks 42,317 23,713
Debtors 6 135,548 153,169
Cash at bank and in hand 29,312 82,111
207,177 258,993
CREDITORS
Amounts falling due within one year 7 186,520 164,547
NET CURRENT ASSETS 20,657 94,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,954

99,667

CAPITAL AND RESERVES
Called up share capital 114 114
Retained earnings 25,840 99,553
25,954 99,667

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:



Dr M H Lewis - Director


SUMMERSDALE LIMITED (REGISTERED NUMBER: 07930726)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Summersdale Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Pharmacy contract are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Pharmacy lease - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method


SUMMERSDALE LIMITED (REGISTERED NUMBER: 07930726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Pharmacy
contract
£   
COST
At 1 April 2022
and 31 March 2023 355,000
AMORTISATION
At 1 April 2022
and 31 March 2023 355,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

SUMMERSDALE LIMITED (REGISTERED NUMBER: 07930726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Pharmacy and Computer
lease fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 3,070 39,992 7,563 50,625
Additions - 1,400 - 1,400
At 31 March 2023 3,070 41,392 7,563 52,025
DEPRECIATION
At 1 April 2022 3,070 34,771 7,563 45,404
Charge for year - 1,324 - 1,324
At 31 March 2023 3,070 36,095 7,563 46,728
NET BOOK VALUE
At 31 March 2023 - 5,297 - 5,297
At 31 March 2022 - 5,221 - 5,221

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 98,594 98,551
Other debtors 36,954 54,618
135,548 153,169

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 19,948
Trade creditors 144,520 139,220
Taxation and social security - 5,379
Other creditors 42,000 -
186,520 164,547

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 31,200 31,200
Between one and five years 31,200 31,200
62,400 62,400

9. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties: Recharges £95,343, 2022 - £37,590. Rent £31,200, 2022 - £31,200.

At the reporting end date the following amounts were outstanding £16,747, 2022 - £39,338.