1 September 2022 v2024.40.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP077304622022-09-012023-08-31077304622023-08-31077304622022-08-3107730462core:WithinOneYear2023-08-3107730462core:WithinOneYear2022-08-3107730462core:ShareCapital2023-08-3107730462core:ShareCapital2022-08-3107730462core:RetainedEarningsAccumulatedLosses2023-08-3107730462core:RetainedEarningsAccumulatedLosses2022-08-3107730462bus:Director12022-09-012023-08-3107730462bus:RegisteredOffice2022-09-012023-08-3107730462core:LandBuildings2022-09-012023-08-3107730462core:OfficeEquipment2022-09-012023-08-3107730462core:FurnitureFittings2022-09-012023-08-31077304622021-09-012022-08-3107730462core:LandBuildings2023-08-3107730462core:PlantMachinery2023-08-3107730462core:LandBuildings2022-09-0107730462core:PlantMachinery2022-09-01077304622022-09-0107730462core:PlantMachinery2022-09-012023-08-3107730462core:LandBuildings2022-08-3107730462core:PlantMachinery2022-08-310773046212022-09-012023-08-3107730462countries:EnglandWales2022-09-012023-08-3107730462bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3107730462bus:PrivateLimitedCompanyLtd2022-09-012023-08-3107730462bus:SmallEntities2022-09-012023-08-3107730462bus:FullAccounts2022-09-012023-08-31
Company registration number:
07730462
Summers-James Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Summers-James Limited
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Tangible assets 5
2,332
 
5,058
 
Current assets    
Debtors 6
24,433
 
35,996
 
Cash at bank and in hand
7,979
 
100
 
32,412
 
36,096
 
Creditors: amounts falling due within one year 7
(50,788
)
(45,218
)
Net current liabilities
(18,376
)
(9,122
)
Total assets less current liabilities (16,044 ) (4,064 )
Suspense account 8,214   -  
Net liabilities
(7,830
)
(4,064
)
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
(7,832
)
(4,066
)
Shareholders deficit
(7,830
)
(4,064
)
For the year ending
31 August 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 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 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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Mr J Summers-James
Director
Company registration number:
07730462
Summers-James Limited
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
7 Meadow View
,
Tyla Garw
,
Pontyclun
,
CF72 9FP
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
25% straight line
Office equipment
33% straight line
Fixtures and fittings
25% straight line

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
3.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 September 2022
and
31 August 2023
3,301
 
21,871
 
25,172
 
Depreciation      
At
1 September 2022
1,852
 
18,262
 
20,114
 
Charge
1,331
 
1,395
 
2,726
 
At
31 August 2023
3,183
 
19,657
 
22,840
 
Carrying amount      
At
31 August 2023
118
 
2,214
 
2,332
 
At 31 August 2022
1,449
 
3,609
 
5,058
 

6 Debtors

20232022
££
Trade debtors -  
5,441
 
Other debtors
24,433
 
30,555
 
24,433
 
35,996
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
22,772
 
24,639
 
Taxation and social security
28,016
 
20,579
 
50,788
 
45,218
 

8 Directors' advances, credit and guarantees

During the financial year Summers-James Limited made an unsecured interest free loan to Mr J Summers-James and Mrs D Summer James. The sums of the loans were £3,900 and £10,000 respectively and the loans are repayable on demand and in full.