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REGISTERED NUMBER: 02844668 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Summerfield Commercials Ltd

Summerfield Commercials Ltd (Registered number: 02844668)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Summerfield Commercials Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr R J Jessup





REGISTERED OFFICE: Worcester Road
Summerfield
Kidderminster
Worcestershire
DY11 7RE





REGISTERED NUMBER: 02844668 (England and Wales)





ACCOUNTANTS: Francis & Co
Second Floor
123 Promenade
Cheltenham
Gloucestershire
GL50 1NW

Summerfield Commercials Ltd (Registered number: 02844668)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 300,230 300,307

CURRENT ASSETS
Stocks 149,670 260,372
Debtors 5 3,298 18,960
Cash at bank 60,808 99,669
213,776 379,001
CREDITORS
Amounts falling due within one year 6 2,586 34,243
NET CURRENT ASSETS 211,190 344,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,420

645,065

CREDITORS
Amounts falling due after more than one
year

7

115,498

220,153
NET ASSETS 395,922 424,912

CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 202,446 202,446
Retained earnings 193,474 222,464
SHAREHOLDERS' FUNDS 395,922 424,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Summerfield Commercials Ltd (Registered number: 02844668)

Balance Sheet - continued
29 February 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 director and authorised for issue on 11 October 2024 and were signed by:





Mr R J Jessup - Director


Summerfield Commercials Ltd (Registered number: 02844668)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Summerfield Commercials Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 300,000 51,031 351,031
DEPRECIATION
At 1 March 2023 - 50,724 50,724
Charge for year - 77 77
At 29 February 2024 - 50,801 50,801
NET BOOK VALUE
At 29 February 2024 300,000 230 300,230
At 28 February 2023 300,000 307 300,307

Summerfield Commercials Ltd (Registered number: 02844668)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,760 18,960
Other debtors 538 -
3,298 18,960

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 2,069
Trade creditors 1,485 4,996
Taxation and social security 430 7,413
Other creditors 671 19,765
2,586 34,243

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 4,655
Other creditors 115,498 215,498
115,498 220,153

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R J Jessup.