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REGISTERED NUMBER: 14753349 (England and Wales)















Unaudited Financial Statements

for the Period 23rd March 2023 to 31st March 2024

for

SUMARK HOLDINGS LIMITED

SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)






Contents of the Financial Statements
for the Period 23rd March 2023 to 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUMARK HOLDINGS LIMITED

Company Information
for the Period 23rd March 2023 to 31st March 2024







DIRECTORS: Mr G C W Forshaw
Mr L R Stericker





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 14753349 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)

Balance Sheet
31st March 2024

Notes £    £   
FIXED ASSETS
Investment property 4 367,108

CURRENT ASSETS
Debtors 5 336
Cash at bank 925
1,261
CREDITORS
Amounts falling due within one year 6 4,946
NET CURRENT LIABILITIES (3,685 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,423

CREDITORS
Amounts falling due after more than one
year

7

(339,731

)

PROVISIONS FOR LIABILITIES (4,557 )
NET ASSETS 19,135

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 19,035
SHAREHOLDERS' FUNDS 19,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2024 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.

SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)

Balance Sheet - continued
31st March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:




Mr G C W Forshaw - Director



Mr L R Stericker - Director


SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)

Notes to the Financial Statements
for the Period 23rd March 2023 to 31st March 2024

1. STATUTORY INFORMATION

Sumark Holdings Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Revenue recognition
Revenue is measured at the fair value of consideration received or receivable. Revenue represents rental income receivable during the period.

Investment property
Investment property is shown at the most recent valuation. They are initially measured at cost, including transaction costs. Subsequently, they are measured at fair value and are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the statement of income in the period in which they arise.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)

Notes to the Financial Statements - continued
for the Period 23rd March 2023 to 31st March 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 343,124
Revaluations 23,984
At 31st March 2024 367,108
NET BOOK VALUE
At 31st March 2024 367,108

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2024 23,984
Cost 343,124
367,108

If investment property had not been revalued they would have been included at the following historical cost:

£   
Cost 343,124

Investment property was valued on an open market basis on 31st March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Prepayments 336

SUMARK HOLDINGS LIMITED (REGISTERED NUMBER: 14753349)

Notes to the Financial Statements - continued
for the Period 23rd March 2023 to 31st March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Directors' current accounts 3,986
Accrued expenses 960
4,946

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans more 5 yrs non-inst 169,665
Other loans more 5yrs non-inst 170,066
339,731

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 169,665
Other loans more 5yrs non-inst 170,066
339,731

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 169,665

Bank loans are secured by way of fixed charges over 27 Alcester Street, Chadderton and 42 Cunnery Meadow, Leyland.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owned £3,986 to its directors. No interest has been charged on this loan and it is repayable on demand.

10. RELATED PARTY DISCLOSURES

During the accounting period, the company received loans totalling £170,066 from Nationwide Lettings Ltd, a company controlled by the directors. No interest has been charged on this loan and while it is repayable on demand, repayment will not be sought until such time that company performance permits.