1.
General Information
Summercare Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03487592
. The registered office is 962 Eastern Avenue, Newbury Park, Ilford, Essex, IG2 7JD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The company is a member of a group, where the parent of the group prepares publicly available consolidated financial statements, including this company.
The financial statements of the company are consolidated in the financial statements of Holmwood House Holdings Limited. These consolidated financial statements are available from its registered office address; 962 Eastern Avenue, Ilford, Essex, United Kingdom, IG2 7JD.
2.2.
Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
2.5.
Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6.
Financial Instruments
2.6.
Financial Instruments - continued
Financial instruments are recognised in the company's statement of financial position 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 receivables, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade payables, other payables and amounts due to fellow group companies 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. Financial liabilities classified as payable within one year are not amortised.
...CONTINUED
Summercare Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.7.
Taxation
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.
2.8.
Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 100 (2024: 98)
4.
Tangible Assets
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost or Valuation | |
| As at 1 September 2024 |
|
| Additions |
|
| Revaluation |
|
| As at 31 August 2025 |
|
| Net Book Value | |
| As at 31 August 2025 |
|
| As at 1 September 2024 |
|
Included in cost or valuation of land and buildings is freehold land of £1,625,000 (2024 - £1,625,000) which is not depreciated.
Cost or valuation at 31 August 2025 is represented by:
Summercare Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
|
Land and
Buildings
|
||
|
Valuation in 2016
|
1,411,032
|
|
|
Valuation in 2022
|
200,000
|
|
|
Cost
|
978,968
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
||
|
2,590,000
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
Freehold land and buildings were valued on an open market basis on 31 August 2025 by the Directors .
The Directors are of the opinion that the value of freehold land and buildings is not materially different from their fair value at the date of the statement of financial position.
5.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by group undertakings | 380,000 | 380,000 | |
| Other debtors | 227,368 | 207,927 | |
|
|
|
||
6.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other creditors | 255,516 | 290,634 | |
| Taxation and social security |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Other creditors | 972,402 | 1,199,823 | |
|
|
|
||
8.
Secured Creditors
Of the creditors the following amounts are secured.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 822,290 | 906,567 |
The bank loans of the company are secured by a debenture on all assets of the company and also by legal charges over the associated properties.
Summercare Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
9.
Loans
An analysis of the maturity of loans is given below:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
The company obtained a loan from the Bank in 2018. As of the year-end, the outstanding balance was £810,838(2024:£885,807). The loan carries an interest rate of 1.85% per annum above the base rate of 5.25% per annum and is repayable over 20 years.
In October 2021. the company obtained a loan under bounceback scheme. The balance outstanding as at the yearend was £11,452 (2024:£20,760). It carries interestat the rate of 2.5% perannum with no principal repayments for the first year.
The company borrowed a loan from RBR Property Investments Limited, a company under control of a Director.The balance of this loan outstanding as at the yearend was £500,000(2024:£500,000).This loan carries an interest rate of 5% per annum and is repayable by year 2030.
12.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at 1 September 2024 |
|
| Surplus on revaluation |
|
| As at 31 August 2025 |
|
13.
Related Party Disclosures
During the year the company made payment in respect of rent totalling £36,000 (2024: £36,000) to Alpha Remediation Limited a company connected to a Director. The amount owed by them at the year end was £7,915 (2024: £10,000).
Included within debtors is an amount £88,720 (2024: £88,720) due from RBR Property Investments Limited respectively.This company are under the control of a Director.
Included within creditors is an amount £104,625 (2024: £9,617) Due to Gateway Housing Limited, a company under common directorship.
Summercare Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
14.
Audit Information
The auditor's report on the accounts of
Summercare Limited
for the year ended 31 August 2025 was unqualified.
The auditor's report was signed by
Jamil Raja
(Senior Statutory Auditor)
for and on behalf of
Alderton Accountancy Limited
, Statutory Auditor.
|
962 Eastern Avenue Newbury Park
Ilford
Essex
IG2 7JD
|