Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 120 | 516 | |||
| Current assets | ||||
| Debtors | ||||
| - due within one year | 4 |
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| - due after more than one year | 4 |
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| Cash at bank and in hand |
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| 122,539 | 120,514 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 67,092 | 48,262 | ||
| Total assets less current liabilities | 67,212 | 48,778 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Director's responsibilities:
The financial statements of Summerdown and Partners Limited (registered number:
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G I Maspero
Director |
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.
Summerdown and Partners 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 Cross Keys House, 27 The Parade, Marlborough, Wiltshire, SN8 1NE.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Statement of Financial Position 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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
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.
For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.
| Fixtures and fittings |
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| Office equipment |
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| Computer equipment |
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The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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 debtors and 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
***Classification of financial liabilities***
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.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Fixtures and fittings | Office equipment | Computer equipment | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 September 2024 |
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| Additions |
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| At 31 August 2025 |
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| Accumulated depreciation | |||||||
| At 01 September 2024 |
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| Charge for the financial year |
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| At 31 August 2025 |
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| Net book value | |||||||
| At 31 August 2025 | 0 | 120 | 0 | 120 | |||
| At 31 August 2024 | 0 | 516 | 0 | 516 |
| 2025 | 2024 | ||
| £ | £ | ||
| Debtors: amounts falling due within one year | |||
| Trade debtors |
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| Other debtors |
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| Debtors: amounts falling due after more than one year | |||
| Deferred tax asset |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Other taxation and social security |
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| Other creditors |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| within one year |
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| between one and five years |
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| Total future minimum lease payments under non-cancellable operating leases |
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During the year the company entered into the following transactions with related parties:
Sales
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 63,283 | 80,536 |
Expenses recharged to related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 1,264 | 197 |
Expenses recharged by related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 61,937 | 52,182 |
Professional fees charged to related parties
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 34,000 | 34,750 |
Amounts due to related parties
The following amounts were outstanding at the reporting end date:
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 15,000 | 15,000 |
Amounts due from related parties
The following amounts were outstanding at the reporting end date:
| 2025 | 2024 | ||
| £ | £ | ||
| Entities with a common director | 8,870 | 13,978 |
All of the above transactions were made under normal commercial terms.