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SUMMER PLACE MORTGAGES LIMITED

Registered Number
SC280228
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2025

SUMMER PLACE MORTGAGES LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

Mark Latimer

Company Secretary

Jacqueline Latimer

Registered Address

The Old Church
Easter Kilmany
Kilmany
KY15 7DB

Registered Number

SC280228 (Scotland)
SUMMER PLACE MORTGAGES LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets32,5975,833
2,5975,833
Current assets
Debtors416,11211,695
Cash at bank and on hand24,2388,032
40,35019,727
Creditors amounts falling due within one year5(27,561)(24,035)
Net current assets (liabilities)12,789(4,308)
Total assets less current liabilities15,3861,525
Provisions for liabilities(593)(475)
Net assets14,7931,050
Capital and reserves
Called up share capital1,0011,001
Profit and loss account13,79249
Shareholders' funds14,7931,050
The financial statements were approved and authorised for issue by the Director on 25 August 2025, and are signed on its behalf by:
Mark Latimer
Director
Registered Company No. SC280228
SUMMER PLACE MORTGAGES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Short leasehold 10% on reducing balance Office equipment 25% on reducing balance and 20% on reducing balance
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 April 248,7144,17212,886
Additions-1,0421,042
Disposals(8,714)(600)(9,314)
At 31 March 25-4,6144,614
Depreciation and impairment
At 01 April 244,9632,0907,053
Charge for year375463838
On disposals(5,338)(536)(5,874)
At 31 March 25-2,0172,017
Net book value
At 31 March 25-2,5972,597
At 31 March 243,7512,0825,833
4.Debtors: amounts due within one year

2025

2024

££
Other debtors16,11211,295
Prepayments and accrued income-400
Total16,11211,695
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables-211
Taxation and social security27,50923,800
Other creditors5224
Total27,56124,035