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Registration number: 04914608

Summer Land Air Conditioning Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Summer Land Air Conditioning Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Summer Land Air Conditioning Ltd

(Registration number: 04914608)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

122,052

69,619

Current assets

 

Stocks

5

3,000

10,000

Debtors

6

499,328

420,420

Cash at bank and in hand

 

32,442

91,199

 

534,770

521,619

Creditors: Amounts falling due within one year

7

(532,208)

(456,813)

Net current assets

 

2,562

64,806

Total assets less current liabilities

 

124,614

134,425

Creditors: Amounts falling due after more than one year

7

(86,384)

(72,264)

Provisions for liabilities

(30,513)

(18,449)

Net assets

 

7,717

43,712

Capital and reserves

 

Called up share capital

8

1,000

1,000

Profit and loss account

6,717

42,712

Shareholders' funds

 

7,717

43,712

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

 

Summer Land Air Conditioning Ltd

(Registration number: 04914608)
Statement of Financial Position as at 31 October 2024 (continued)


Mr R Puplett
Director


Mr P Kingston
Director

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Acorn House
1 Old Taunton Road
Bridgwater
Somerset
TA6 3NY

Principal activity

The principal activity of the company is air conditioning and ventilation installation

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Contract revenue recognition

Where the outcome of construction contracts cannot be esitmated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 11).

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

31,906

26,866

99,325

158,097

Additions

2,860

984

73,357

77,201

Disposals

-

-

(14,439)

(14,439)

At 31 October 2024

34,766

27,850

158,243

220,859

Depreciation

At 1 November 2023

26,464

24,076

37,938

88,478

Charge for the year

1,245

1,246

16,186

18,677

Eliminated on disposal

-

-

(8,348)

(8,348)

At 31 October 2024

27,709

25,322

45,776

98,807

Carrying amount

At 31 October 2024

7,057

2,528

112,467

122,052

At 31 October 2023

5,442

2,790

61,387

69,619

5

Stocks

2024
£

2023
£

Raw materials and consumables

3,000

10,000

6

Debtors

2024
£

2023
£

Trade debtors

478,037

307,151

Other debtors

-

19,127

Prepayments

1,291

9,642

Gross amount due from customers for contract work

20,000

84,500

499,328

420,420

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

32,704

29,285

Trade creditors

 

297,593

312,819

Taxation and social security

 

138,154

86,043

Accruals and deferred income

 

7,615

8,345

Other creditors

 

56,142

20,321

 

532,208

456,813

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

86,384

72,264

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Class A shares of £1 each of £1 each

900

900

900

900

Ordinary Class B shares of £1 each of £1 each

100

100

100

100

1,000

1,000

1,000

1,000

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,510

28,500

Hire purchase contracts

76,874

43,764

86,384

72,264

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,000

19,000

Hire purchase contracts

13,704

10,285

32,704

29,285

11

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

13,704

10,285

Later than one year and not later than five years

76,874

43,764

90,578

54,049

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

21,317

15,646

Later than one year and not later than five years

13,937

9,781

35,254

25,427

The amount of non-cancellable operating lease payments recognised as an expense during the year was £35,758 (2023 - £17,540).

 

Summer Land Air Conditioning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

12

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

At 31 October 2024
£

Mr R Puplett

Cash advances

19,127

19,127

     
   

 

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr R Puplett

Cash advances

1,522

19,127

(1,522)

19,127