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REGISTERED NUMBER: 03487592 (England and Wales)










Financial Statements

for the Year Ended 31 August 2024

for

Summercare Limited

Summercare Limited (Registered number: 03487592)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Summercare Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M A Raja
F J Raja
Dr M A Raja



SECRETARY: Mrs A A Raja



REGISTERED OFFICE: 962 Eastern Avenue
Newbury Park
Ilford
Essex
IG2 7JD



REGISTERED NUMBER: 03487592 (England and Wales)



AUDITORS: Alderton Accountancy Limited, Statutory Auditor
Chartered Certified Accountants
Registered Auditors
962 Eastern Avenue
Newbury Park
Ilford
Essex
IG2 7JD



BANKERS: Natwest Westminster Bank PLC
Chatham Customer Service Centre
Western Avenue
Waterside Court, Chatham Maritime
Chatham
Kent
ME4 4RT

Summercare Limited (Registered number: 03487592)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,590,000 2,590,000

CURRENT ASSETS
Debtors 5 652,438 769,905
Cash at bank and in hand 143,063 124,170
795,501 894,075
CREDITORS
Amounts falling due within one year 6 495,528 458,197
NET CURRENT ASSETS 299,973 435,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,889,973

3,025,878

CREDITORS
Amounts falling due after more than one
year

7

(1,501,472

)

(1,612,048

)

PROVISIONS FOR LIABILITIES (174,136 ) (174,136 )
NET ASSETS 1,214,365 1,239,694

CAPITAL AND RESERVES
Called up share capital 11 9,602 9,602
Revaluation reserve 12 522,408 522,408
Capital redemption reserve 4,607 4,607
Retained earnings 677,748 703,077
SHAREHOLDERS' FUNDS 1,214,365 1,239,694

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 8 April 2025 and were signed on its behalf by:





F J Raja - Director


Summercare Limited (Registered number: 03487592)

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

1. STATUTORY INFORMATION

Summercare 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.

The company is a member of a group, where the parent of the group prepares publicly available consolidated financial statements, including this company.

The financial statements of the company are consolidated in the financial statements of Holmwood House Holdings Limited. These consolidated financial statements are available from its registered office address; 962 Eastern Avenue, Ilford, Essex, United Kingdom, IG2 7JD.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 50 years based on cost/revalued amount

Summercare Limited (Registered number: 03487592)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including trade payables, other payables and amounts due to fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Summercare Limited (Registered number: 03487592)

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

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 98 (2023 - 75 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 September 2023
and 31 August 2024 2,590,000
NET BOOK VALUE
At 31 August 2024 2,590,000
At 31 August 2023 2,590,000

Included in cost or valuation of land and buildings is freehold land of £ 1,625,000 (2023 - £ 1,625,000 ) which is not depreciated.

Cost or valuation at 31 August 2024 is represented by:

Land and
buildings
£   
Valuation in 2016 1,411,032
Valuation in 2022 200,000
Cost 978,968
2,590,000

Freehold land and buildings were valued on an open market basis on 31 August 2022 by the Directors .

The Directors are of the opinion that the value of freehold land and buildings is not materially different from their fair value at the date of the statement of financial position.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,511 103,133
Amounts owed by group undertakings 380,000 475,500
Other debtors 207,927 191,272
652,438 769,905

Summercare Limited (Registered number: 03487592)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 83,532 43,303
Trade creditors 5,194 12,915
Taxation and social security 116,168 103,233
Other creditors 290,634 298,746
495,528 458,197

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 823,035 946,797
Other creditors 678,437 665,251
1,501,472 1,612,048

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 500,000 500,000

Repayable by instalments
Bank loans more 5 yr by instal 521,386 765,626

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 83,532 43,303

Amounts falling due between one and two years:
Bounce Back Loan 10,112 21,519

Amounts falling due between two and five years:
Bank loans - 2-5 years 291,537 159,652

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 500,000 500,000

Repayable by instalments
Bank loans more 5 yr by instal 521,386 765,626

Summercare Limited (Registered number: 03487592)

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

8. LOANS - continued

The company obtained a loan from the Bank in 2018. As of the year-end, the outstanding balance was £ 885,807 (2023: £958,692). The loan carries an interest rate of 1.85% per annum above the base rate of 5.25% per annum and is repayable over 20 years.

In October 2021. the company obtained a loan under bounce back scheme. The balance outstanding as at the year end was £20,760 (2022: £31,409). It carries interest at the rate of 2.5% per annum with no principal repayments for the first year.

The company borrowed a loan from RBR Property Investments Limited, a company under control of a Director. The balance of this loan outstanding as at the year end was £500,000 (2022: £Nil). This loan carries an interest rate of 5% per annum and is repayable by year 2030.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 36,000 36,000
Between one and five years 117,000 117,000
153,000 153,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 906,567 990,100

The bank loans of the company are secured by a debenture on all assets of the company and also by legal charges over the associated properties.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,000 Ordinary A £1 9,600 9,600
2 Ordinary C £1 2 2
9,602 9,602

12. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 522,408

Summercare Limited (Registered number: 03487592)

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

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jamil Raja (Senior Statutory Auditor)
for and on behalf of Alderton Accountancy Limited, Statutory Auditor

14. RELATED PARTY DISCLOSURES

During the year the company made payment in respect of rent totalling £36,000 (2023: £15,000) to Alpha Remediation Limited a company connected to a Director. The amount owed by them at the year end was £10,000 (2023: Nil).

Included within debtors is an amount £Nil (2023: £398) and £88,720 (2023: £88,720) due from Quinton House Limited and RBR Property Investments Limited respectively. Both companies are under the control of a Director.

Included within creditors is an amount £9,617 (2023: £140,669 (Due to)) due by Gateway Housing Limited, a company under common directorship.