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Company registration number: 10994565
Summit International Education Limited
Unaudited filleted financial statements
31 October 2024
Summit International Education Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Summit International Education Limited
Directors and other information
Director Y Jiang
Company number 10994565
Registered office 20 Sunningdale Close
Stanmore
HA7 3QL
Accountants Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
Summit International Education Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,348 719
_______ _______
1,348 719
Current assets
Cash at bank and in hand 24,361 18,280
_______ _______
24,361 18,280
Creditors: amounts falling due
within one year 6 ( 4,554) ( 2,770)
_______ _______
Net current assets 19,807 15,510
_______ _______
Total assets less current liabilities 21,155 16,229
Creditors: amounts falling due
after more than one year 7 ( 14,012) ( 22,858)
_______ _______
Net assets/(liabilities) 7,143 ( 6,629)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,043 ( 6,729)
_______ _______
Shareholders funds/(deficit) 7,143 ( 6,629)
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2025 , and are signed on behalf of the board by:
Y Jiang
Director
Company registration number: 10994565
Summit International Education Limited
Statement of changes in equity
Year ended 31 October 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2022 100 ( 19,310) ( 19,210)
Profit for the year 12,581 12,581
_______ _______ _______
Total comprehensive income for the year - 12,581 12,581
_______ _______ _______
At 31 October 2023 and 1 November 2023 100 ( 6,729) ( 6,629)
Profit for the year 13,772 13,772
_______ _______ _______
Total comprehensive income for the year - 13,772 13,772
_______ _______ _______
At 31 October 2024 100 7,043 7,143
_______ _______ _______
Summit International Education Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Sunningdale Close, Stanmore, HA7 3QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 November 2023 2,675 2,675
Additions 1,730 1,730
_______ _______
At 31 October 2024 4,405 4,405
_______ _______
Depreciation
At 1 November 2023 1,956 1,956
Charge for the year 1,101 1,101
_______ _______
At 31 October 2024 3,057 3,057
_______ _______
Carrying amount
At 31 October 2024 1,348 1,348
_______ _______
At 31 October 2023 719 719
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 3,083 2,770
Other creditors 1,471 -
_______ _______
4,554 2,770
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 14,012 22,858
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Y Jiang - ( 1,471) ( 1,471)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Y Jiang - - -
_______ _______ _______