Company registration number 10261616 (England and Wales)
Summerhouse Inc Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 July 2024
PAGES FOR FILING WITH REGISTRAR
Summerhouse Inc Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Summerhouse Inc Ltd
Statement of financial position
as at 31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,141
34,756
Current assets
Debtors
4
20,701
17,704
Cash at bank and in hand
33,935
43,134
54,636
60,838
Creditors: amounts falling due within one year
5
(31,069)
(25,178)
Net current assets
23,567
35,660
Total assets less current liabilities
50,708
70,416
Creditors: amounts falling due after more than one year
6
(12,917)
(21,488)
Net assets
37,791
48,928
Capital and reserves
Called up share capital
7
140
140
Profit and loss reserves
37,651
48,788
Total equity
37,791
48,928

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 21 October 2024
A J Spencer
Director
Company registration number 10261616 (England and Wales)
Summerhouse Inc Ltd
Notes to the financial statements
for the year ended 31 July 2024
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT.

 

Turnover is recognised on the supply of goods and services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).

2024
2023
Number
Number
Total
3
3
Summerhouse Inc Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2024
- 3 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
12,905
38,142
51,047
Depreciation and impairment
At 1 August 2023
2,159
14,132
16,291
Depreciation charged in the year
1,612
6,003
7,615
At 31 July 2024
3,771
20,135
23,906
Carrying amount
At 31 July 2024
9,134
18,007
27,141
At 31 July 2023
10,746
24,010
34,756
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,701
17,704
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligation under finance lease
6,880
5,190
Corporation tax
11,970
9,352
Other taxation and social security
7,869
7,581
Other creditors
2,950
1,655
Accruals and deferred income
1,400
1,400
31,069
25,178

Obligations under finance leases are secured on the assets to which they relate.

 

 

 

 

 

6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligation under finance lease
12,917
21,488
Summerhouse Inc Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2024
6
Creditors: amounts falling due after more than one year
(continued)
- 4 -

Obligations under finance leases are secured on the assets to which they relate.

7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
A  shares of £1 each
20
20
B shares of £1 each
20
20
140
140
8
Company information

Summerhouse Inc Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

2024-07-312023-08-01false21 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityA J Spencerfalsefalse102616162023-08-012024-07-31102616162024-07-31102616162023-07-3110261616core:FurnitureFittings2024-07-3110261616core:MotorVehicles2024-07-3110261616core:FurnitureFittings2023-07-3110261616core:MotorVehicles2023-07-3110261616core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3110261616core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3110261616core:Non-currentFinancialInstrumentscore:AfterOneYear2024-07-3110261616core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-3110261616core:CurrentFinancialInstruments2024-07-3110261616core:CurrentFinancialInstruments2023-07-3110261616core:ShareCapital2024-07-3110261616core:ShareCapital2023-07-3110261616core:RetainedEarningsAccumulatedLosses2024-07-3110261616core:RetainedEarningsAccumulatedLosses2023-07-3110261616core:ShareCapitalOrdinaryShares2024-07-3110261616core:ShareCapitalOrdinaryShares2023-07-3110261616bus:Director12023-08-012024-07-3110261616core:FurnitureFittings2023-08-012024-07-3110261616core:MotorVehicles2023-08-012024-07-31102616162022-08-012023-07-3110261616core:FurnitureFittings2023-07-3110261616core:MotorVehicles2023-07-31102616162023-07-3110261616core:Non-currentFinancialInstruments2024-07-3110261616core:Non-currentFinancialInstruments2023-07-3110261616bus:PrivateLimitedCompanyLtd2023-08-012024-07-3110261616bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3110261616bus:FRS1022023-08-012024-07-3110261616bus:AuditExemptWithAccountantsReport2023-08-012024-07-3110261616bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP