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REGISTERED NUMBER: 11230774 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SUMMERHILL LAND LIMITED

SUMMERHILL LAND LIMITED (REGISTERED NUMBER: 11230774)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUMMERHILL LAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J Elliott





REGISTERED OFFICE: Plum Tree Cottage
Maidstone Road
Horsmonden
Kent
TN12 8NE





REGISTERED NUMBER: 11230774 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

SUMMERHILL LAND LIMITED (REGISTERED NUMBER: 11230774)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,356 18,629
Investment property 5 624,313 436,954
636,669 455,583

CURRENT ASSETS
Debtors 6 3,181 424
Cash at bank and in hand 109,983 478,936
113,164 479,360
CREDITORS
Amounts falling due within one year 7 720,811 894,907
NET CURRENT LIABILITIES (607,647 ) (415,547 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,022

40,036

PROVISIONS FOR LIABILITIES 4,471 4,657
NET ASSETS 24,551 35,379

CAPITAL AND RESERVES
Called up share capital 8 20 20
Retained earnings 9 24,531 35,359
SHAREHOLDERS' FUNDS 24,551 35,379

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.

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 authorised for issue and approved by the director and authorised for issue on 18 February 2025 and were signed by:





J Elliott - Director


SUMMERHILL LAND LIMITED (REGISTERED NUMBER: 11230774)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Summerhill Land 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.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive reserves and cash balances, and the support of the director, who is the largest creditor.

The director is pursuing opportunities in relation to further growth of the company.

Having regard to the above, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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

Turnover comprises consultancy fees charged.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 33% on reducing balance

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilites like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.


SUMMERHILL LAND LIMITED (REGISTERED NUMBER: 11230774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to known amounts of cash with no significant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Financial reporting standard 102 - reduced disclosures exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements as permitted by the FRS 102 "The Financial Reporting Standard is a applicable in the UK and Republic of Ireland".
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Prevention paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments 12.26 to 12.29;
- the requirement of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 997 72,691 73,688
DEPRECIATION
At 1 March 2023 623 54,436 55,059
Charge for year 249 6,024 6,273
At 29 February 2024 872 60,460 61,332
NET BOOK VALUE
At 29 February 2024 125 12,231 12,356
At 28 February 2023 374 18,255 18,629

SUMMERHILL LAND LIMITED (REGISTERED NUMBER: 11230774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 436,954
Additions 317,359
Disposals (130,000 )
At 29 February 2024 624,313
NET BOOK VALUE
At 29 February 2024 624,313
At 28 February 2023 436,954

The investment property is carried at cost including any directly attributable costs which the director believes is equivalent to its market value as at 28 February 2024. There is a charge registered at Companies House in relation to one of the properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 3,181 424

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 360 56,056
Corporation tax - 5,585
Directors' current accounts 718,201 831,120
Accruals and deferred income 2,250 2,146
720,811 894,907

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary £1.00 20 20

9. RESERVES
Retained
earnings
£   

At 1 March 2023 35,359
Deficit for the year (10,828 )
At 29 February 2024 24,531

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Elliott.