2023-01-312024-01-302024-01-30false10590405S SUMNER PROPERTY 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S SUMNER PROPERTY LTD

Registered Number
10590405
(England and Wales)

Unaudited Financial Statements for the Year ended
30 January 2024

S SUMNER PROPERTY LTD
Company Information
for the year from 31 January 2023 to 30 January 2024

Director

SUMNER, Stacey Michelle

Registered Address

16 Russell Road
Clacton-On-Sea
CO15 6BE

Registered Number

10590405 (England and Wales)
S SUMNER PROPERTY LTD
Balance Sheet as at
30 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets2,675,9002,675,900
2,675,9002,675,900
Current assets
Debtors373,912104,584
Cash at bank and on hand1,23522
375,147104,606
Creditors amounts falling due within one year3(12,266)(6,622)
Net current assets (liabilities)362,88197,984
Total assets less current liabilities3,038,7812,773,884
Creditors amounts falling due after one year4(2,996,439)(2,751,253)
Net assets42,34222,631
Capital and reserves
Called up share capital11
Profit and loss account42,34122,630
Shareholders' funds42,34222,631
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
SUMNER, Stacey Michelle
Director
Registered Company No. 10590405
S SUMNER PROPERTY LTD
Notes to the Financial Statements
for the year ended 30 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Tangible fixed assets and depreciation
The company’s investment properties are held for long-term rental income and capital appreciation. They are stated at historical cost, with no depreciation charged, as they are considered to have an indefinite useful life. At the balance sheet date, the company owned eight properties.
2.Average number of employees

20242023
Average number of employees during the year00
3.Creditors: amounts due within one year

2024

2023

££
Taxation and social security9,8065,182
Accrued liabilities and deferred income2,4601,440
Total12,2666,622
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,996,4392,751,253
Total2,996,4392,751,253