Summerville Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 16037446

		31 March 2026
	Notes	£	£
FIXED ASSETS
Investment Properties	4		1,179,682

			1,179,682
CURRENT ASSETS
Debtors	5	7,845
Cash at bank and in hand		46,227

		54,072
Creditors: Amounts Falling Due Within One Year	6	(67,052 )

NET CURRENT ASSETS (LIABILITIES)			(12,980 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,166,702

Creditors: Amounts Falling Due After More Than One Year	7		(1,156,756 )

NET ASSETS			9,946

CAPITAL AND RESERVES
Called up share capital	8		2
Profit and Loss Account			9,944

SHAREHOLDERS' FUNDS			9,946

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Summerville Properties Limited

Balance Sheet (continued)

As At 31 March 2026

For the period ending 31 March 2026 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr E Frost

Director

22/06/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Summerville Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 16037446 . The registered office is Unit 10 Manor Park, Banbury, OX16 3TB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Investment Properties

Investment properties are initially recorded at cost, encompassing the purchase price along with any directly attributable expenditures essential for preparing the asset for its intended use, including capital development and enhancement costs where applicable.

Upon initial recognition, investment properties are subsequently measured using the cost model at historical cost less any accumulated impairment losses. No revaluation to fair value is undertaken at each reporting date. The directors consider cost to be the most appropriate measurement basis as it provides the most reliable and relevant representation of the Company’s investment property portfolio, which is typically held at values broadly consistent with cost plus capital development expenditure.

The use of cost is considered appropriate given the nature of the properties held, where value is generally derived from acquisition cost and subsequent capital investment, and where there is no expectation of regular fair value volatility being a meaningful indicator of performance. Accordingly, income-based valuation techniques and periodic revaluation movements are not applied.

However, an annual impairment review is performed in accordance with Section 27 of FRS 102 to assess whether there is any indication that investment properties may be carried at more than their recoverable amount. Where such indicators exist, the recoverable amount is estimated, and the carrying value is adjusted accordingly to ensure that investment properties are not materially misstated in the financial statements.

...CONTINUED

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Summerville Properties Limited

Notes to the Financial Statements (continued)

For the Period 23 October 2024 to 31 March 2026

2.3. Investment Properties - continued

Depreciation is not charged on investment properties as they are considered to be held for long-term capital appreciation and/or development purposes and are expected to maintain their economic benefit over an indefinite period.

Any impairment losses arising are recognised in the profit and loss account.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 2

4. Investment Property

	31 March 2026
	£
Fair Value
As at 23 October 2024	-
Additions	1,179,682

As at 31 March 2026	1,179,682

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Summerville Properties Limited

Notes to the Financial Statements (continued)

For the Period 23 October 2024 to 31 March 2026

5. Debtors

	31 March 2026
	£
Due within one year
Other debtors	7,845

6. Creditors: Amounts Falling Due Within One Year

	31 March 2026
	£
Bank loans and overdrafts	51,219
Other loans	12,000
Other creditors	1,501
Taxation and social security	2,332

	67,052

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2026
	£
Bank loans	602,496
Other loans	554,260

	1,156,756

8. Share Capital

	31 March 2026
	£
Allotted, Called up and fully paid	2

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