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REGISTERED NUMBER: 13086899 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

SOMERVILLE ESTATES LIMITED

SOMERVILLE ESTATES LIMITED (REGISTERED NUMBER: 13086899)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SOMERVILLE ESTATES LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J A Tunnington
Mrs A Tunnington





REGISTERED OFFICE: Crystal House
Unit 29
Wheatland Business Park
Wallasey
CH44 7ER





REGISTERED NUMBER: 13086899 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

SOMERVILLE ESTATES LIMITED (REGISTERED NUMBER: 13086899)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 250,000 190,509

CURRENT ASSETS
Cash at bank 20,326 11,685

CREDITORS
Amounts falling due within one year 5 10,990 9,879
NET CURRENT ASSETS 9,336 1,806
TOTAL ASSETS LESS CURRENT LIABILITIES 259,336 192,315

CREDITORS
Amounts falling due after more than one year 6 (169,941 ) (173,294 )

PROVISIONS FOR LIABILITIES (14,873 ) -
NET ASSETS 74,522 19,021

CAPITAL AND RESERVES
Called up share capital 8 500 500
Fair value reserve 9 44,618 -
Retained earnings 9 29,404 18,521
SHAREHOLDERS' FUNDS 74,522 19,021

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

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

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 7 February 2025 and were signed on its behalf by:





J A Tunnington - Director


SOMERVILLE ESTATES LIMITED (REGISTERED NUMBER: 13086899)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Somerville Estates 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 190,509
Revaluations 59,491
At 31 December 2024 250,000
NET BOOK VALUE
At 31 December 2024 250,000
At 31 December 2023 190,509

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2024 59,491
Cost 190,509
250,000

SOMERVILLE ESTATES LIMITED (REGISTERED NUMBER: 13086899)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INVESTMENT PROPERTY - continued

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

31.12.24 31.12.23
£    £   
Cost 190,509 190,509

Investment property was valued on an open market basis on 31 December 2024 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 4,597 6,281
Taxation and social security 2,553 1,798
Other creditors 3,840 1,800
10,990 9,879

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 103,855 107,928
Other creditors 66,086 65,366
169,941 173,294

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 108,452 114,209

The bank loan is secured over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
500 Ordinary £1 500 500

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 18,521 - 18,521
Deficit for the year (3,990 ) (3,990 )
Revaluation in year - 59,491 59,491
Movement 14,873 (14,873 ) -
At 31 December 2024 29,404 44,618 74,022

SOMERVILLE ESTATES LIMITED (REGISTERED NUMBER: 13086899)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a balance of £66,086 (2023: £65,366) owing to J Tunnington and Mrs A Tunnington, directors and shareholders, in respect of their directors loan account.

11. ULTIMATE CONTROLLING PARTY

The controlling party are the directors of the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Somerville Estates Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Somerville Estates Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Somerville Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Somerville Estates Limited and state those matters that we have agreed to state to the Board of Directors of Somerville Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Somerville Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Somerville Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Somerville Estates Limited. You consider that Somerville Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Somerville Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE


7 February 2025