Summers Of Sussex Ltd. 10852319 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is letting and operating of own or leased real estate and consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 10852319 2023-01-01 2023-12-31 10852319 2023-12-31 10852319 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10852319 core:Non-currentFinancialInstruments 2023-12-31 10852319 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10852319 bus:SmallEntities 2023-01-01 2023-12-31 10852319 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10852319 bus:FilletedAccounts 2023-01-01 2023-12-31 10852319 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10852319 bus:RegisteredOffice 2023-01-01 2023-12-31 10852319 bus:Director1 2023-01-01 2023-12-31 10852319 bus:Director2 2023-01-01 2023-12-31 10852319 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10852319 bus:Agent1 2023-01-01 2023-12-31 10852319 countries:EnglandWales 2023-01-01 2023-12-31 10852319 2022-01-01 2022-12-31 10852319 2022-12-31 10852319 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10852319 core:Non-currentFinancialInstruments 2022-12-31 10852319 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 10852319

Summers Of Sussex Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Summers Of Sussex Ltd.

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 7

 

Summers Of Sussex Ltd.

Company Information

Directors

J A Summers

Mrs M S Summers

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Summers Of Sussex Ltd.
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Summers Of Sussex Ltd. for the year ended 31 December 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Summers Of Sussex Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Summers Of Sussex Ltd. and state those matters that we have agreed to state to the Board of Directors of Summers Of Sussex Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Summers Of Sussex Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Summers Of Sussex Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Summers Of Sussex Ltd.. You consider that Summers Of Sussex Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Summers Of Sussex Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

14 August 2024

 

Summers Of Sussex Ltd.

(Registration number: 10852319)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

402,786

402,786

Current assets

 

Cash at bank and in hand

 

601

111,129

Creditors: Amounts falling due within one year

5

(141,798)

(504,014)

Net current liabilities

 

(141,197)

(392,885)

Total assets less current liabilities

 

261,589

9,901

Creditors: Amounts falling due after more than one year

5

(251,873)

-

Net assets

 

9,716

9,901

Capital and reserves

 

Called up share capital

100

100

Retained earnings

9,616

9,801

Shareholders' funds

 

9,716

9,901

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
J A Summers
Director

   
     
 

Summers Of Sussex Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Summers Of Sussex Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Summers Of Sussex Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

Fair Value

2023
£

Cost or fair value brought forward

402,786

At 31 December 2022

402,786

 

Summers Of Sussex Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,010

-

Taxation and social security

2,302

15,528

Accruals and deferred income

1,440

1,440

Other creditors

136,046

487,046

141,798

504,014

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

251,873

-

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

251,873

-