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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SUMMITGLOW LIMITED

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


SUMMITGLOW LIMITED

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTORS: Mr B Watkinson
Mrs S Watkinson
Mr P H Watkinson





SECRETARY: Mrs S Watkinson





REGISTERED OFFICE: 45 Harleston Street
Sheffield
South Yorkshire
S4 7QB





REGISTERED NUMBER: 01711912 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

REPORT OF THE DIRECTORS
for the year ended 31 October 2024

The directors present their report with the financial statements of the company for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of heat treatment specialists.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

Mr B Watkinson
Mrs S Watkinson
Mr P H Watkinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P H Watkinson - Director


6 January 2025

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 569,670 531,158
Investments 7 63,287 60,294
632,957 591,452

CURRENT ASSETS
Stocks 22,497 24,077
Debtors 8 306,355 336,426
Cash at bank 508,026 501,997
836,878 862,500
CREDITORS
Amounts falling due within one year 9 138,834 144,066
NET CURRENT ASSETS 698,044 718,434
TOTAL ASSETS LESS CURRENT LIABILITIES 1,331,001 1,309,886

PROVISIONS FOR LIABILITIES 10 62,520 74,005
NET ASSETS 1,268,481 1,235,881

CAPITAL AND RESERVES
Called up share capital 75 75
Revaluation reserve 11 33,854 33,854
Capital redemption reserve 27 27
Retained earnings 1,234,525 1,201,925
SHAREHOLDERS' FUNDS 1,268,481 1,235,881

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

BALANCE SHEET - continued
31 October 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





Mr P H Watkinson - Director


SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Summitglow 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1996, has been fully amortised.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - Straight line over 99 years
Plant and machinery - 15% on reducing balance, Straight line over 5 years and Straight line over 3 years
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.

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 year 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.

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 33,000
AMORTISATION
At 1 November 2023
and 31 October 2024 33,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

6. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 November 2023 146,093 216,625 1,199,439
Additions - - 67,995
Disposals - - -
At 31 October 2024 146,093 216,625 1,267,434
DEPRECIATION
At 1 November 2023 49,411 67,573 953,248
Charge for year 2,921 2,196 36,924
Eliminated on disposal - - -
At 31 October 2024 52,332 69,769 990,172
NET BOOK VALUE
At 31 October 2024 93,761 146,856 277,262
At 31 October 2023 96,682 149,052 246,191

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

6. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2023 42,575 64,506 1,669,238
Additions - 27,990 95,985
Disposals - (15,768 ) (15,768 )
At 31 October 2024 42,575 76,728 1,749,455
DEPRECIATION
At 1 November 2023 31,078 36,770 1,138,080
Charge for year 1,152 12,346 55,539
Eliminated on disposal - (13,834 ) (13,834 )
At 31 October 2024 32,230 35,282 1,179,785
NET BOOK VALUE
At 31 October 2024 10,345 41,446 569,670
At 31 October 2023 11,497 27,736 531,158

7. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 November 2023 60,294
Additions 2,993
At 31 October 2024 63,287
NET BOOK VALUE
At 31 October 2024 63,287
At 31 October 2023 60,294

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 288,153 310,677
Directors' current accounts 238 -
Prepayments 17,964 25,749
306,355 336,426

SUMMITGLOW LIMITED (REGISTERED NUMBER: 01711912)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 92,974 51,847
Tax 6,758 42,710
Social security and other taxes 8,835 7,746
VAT 15,102 24,546
Directors' current accounts 7,492 12,244
Accrued expenses 7,673 4,973
138,834 144,066

10. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 62,520 74,005

Deferred
tax
£   
Balance at 1 November 2023 74,005
Provided during year (11,485 )
Accelerated capital allowances
Balance at 31 October 2024 62,520

11. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 33,854

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.