Company No: 00677845 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	5,252		2,243
Investment property	4	2,380,000		2,400,000
		2,385,252		2,402,243
Current assets
Debtors	5	45,738		121,333
Cash at bank and in hand		163,307		66,889
		209,045		188,222
Creditors: amounts falling due within one year	6	( 26,876)		( 23,247)
Net current assets		182,169		164,975
Total assets less current liabilities		2,567,421		2,567,218
Provision for liabilities		( 579,003)		( 583,470)
Net assets		1,988,418		1,983,748
Capital and reserves
Called-up share capital	7	11,810		11,810
Undistributable reserve		1,786,955		1,801,955
Profit and loss account		189,653		169,983
Total shareholders' funds		1,988,418		1,983,748

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Summerworth Oxford Limited (registered number: 00677845) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

S E Mackenzie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Summerworth Oxford Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rents receivable.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	17,109		17,109
Additions	4,494		4,494
Disposals	( 1,855)		( 1,855)
At 31 March 2025	19,748		19,748
Accumulated depreciation
At 01 April 2024	14,866		14,866
Charge for the financial year	1,237		1,237
Disposals	( 1,607)		( 1,607)
At 31 March 2025	14,496		14,496
Net book value
At 31 March 2025	5,252		5,252
At 31 March 2024	2,243		2,243

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	2,400,000
Fair value movement	(20,000)
As at 31 March 2025	2,380,000

Valuation

The investment properties are carried at their fair values, which have been determined by the directors on an open market valuation basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	15,354		15,354

5. Debtors

	2025		2024
	£		£
Trade debtors	0		10,498
Amounts owed by related parties	40,943		40,197
Corporation tax	3,092		3,092
Other debtors	1,703		67,546
	45,738		121,333

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	600		0
Taxation and social security	18,435		16,837
Other creditors	7,841		6,410
	26,876		23,247

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
11,810 Ordinary shares of £ 1.00 each	11,810		11,810

8. Related party transactions

The amount owed by the directors at 31st March 2025 was £nil (2024: £63,180). Interest has been charged on this balance at a rate of 2.25%.

Included in current assets is an amount of £40,943 (2024: £40,197) owed from Noahsworth Limited, a company under common control. The balance is interest-free and has no fixed repayments terms.

Included in current assets is an amount of £75 (2024: £75) owed from Kenilworth Mews Limited, a company under common control. The balance is interest-free and has no fixed repayments terms.