Company Registration No. 06575345 (England and Wales)
SUMMERTOWN HOMES LTD
Unaudited accounts
for the year ended 24 October 2025
SUMMERTOWN HOMES LTD
Unaudited accounts
Contents
SUMMERTOWN HOMES LTD
Statement of financial position
as at 24 October 2025
Investment property
1,084,851
1,084,851
Cash at bank and in hand
18,541
17,047
Creditors: amounts falling due within one year
(321,085)
(333,155)
Net current liabilities
(302,544)
(316,108)
Total assets less current liabilities
782,307
768,743
Creditors: amounts falling due after more than one year
(765,050)
(765,050)
Called up share capital
100
100
Profit and loss account
17,157
3,593
Shareholders' funds
17,257
3,693
For the year ending 24 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 April 2026 and were signed on its behalf by
Mr J Wade
Director
Company Registration No. 06575345
SUMMERTOWN HOMES LTD
Notes to the Accounts
for the year ended 24 October 2025
SUMMERTOWN HOMES LTD is a private company, limited by shares, registered in England and Wales, registration number 06575345. The registered office is 9 WIMPOLE MEWS, LONDON, W1G 8PB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes .
Revenue comprises rental income from investment property leased out under operating leases. Revenue is
recognised on a straight-line basis over the lease term. Contingent rents, being those lease payments that are not fixed at the inception of the lease, are recognised in the period in which they are earned.
Proceeds from the sale of investment properties are recognised when the risks and rewards of ownership have been transferred to the purchaser. This generally occurs on completion. Proceeds from the sale of properties are recognised as revenue in other gains and losses in the Income Statement.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as property, plant and equipment.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
SUMMERTOWN HOMES LTD
Notes to the Accounts
for the year ended 24 October 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 25 October 2024
1,084,851
At 24 October 2025
1,084,851
Investment property comprises property held to earn rent and/or for capital appreciation. The fair value of the investment property has been arrived at on the basis of valuations carried out by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024 Cost - £1,084,851 ( 2023 Cost - £1,084,851)
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Creditors: amounts falling due within one year
2025
2024
Amounts owed to group undertakings and other participating interests
314,113
325,113
Taxes and social security
3,182
1,673
Other creditors
1,052
1,512
Loans from directors
1,638
3,757
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Creditors: amounts falling due after more than one year
2025
2024
Other creditors
765,050
765,050
Total borrowings include secured liabilities of £765,050, secured by charges over the properties held for development.
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Average number of employees
During the year the average number of employees was 1 (2024: 1).