Summercombe No 87 Limited - Accounts to registrar (filleted) - small 23.1.2

Summercombe No 87 Limited - Accounts to registrar (filleted) - small 23.1.2


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Unaudited Financial Statements

for the Period 1 March 2022 to 31 May 2023

for

Summercombe No 87 Limited

Summercombe No 87 Limited (Registered number: 03830530)






Contents of the Financial Statements
for the Period 1 March 2022 to 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Summercombe No 87 Limited

Company Information
for the Period 1 March 2022 to 31 May 2023







DIRECTORS: P J Bennett
D Herrington





SECRETARY: SJ Ellis





REGISTERED OFFICE: Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR





REGISTERED NUMBER: 03830530 (England and Wales)





ACCOUNTANTS: Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Summercombe No 87 Limited (Registered number: 03830530)

Balance Sheet
31 May 2023

31.5.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,257 2,136

CURRENT ASSETS
Stocks 50,000 30,000
Debtors 5 105,834 69,487
Cash at bank 39,423 18,122
195,257 117,609
CREDITORS
Amounts falling due within one year 6 169,723 96,302
NET CURRENT ASSETS 25,534 21,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,791

23,443

CREDITORS
Amounts falling due after more than one year 7 12,900 20,500
NET ASSETS 13,891 2,943

CAPITAL AND RESERVES
Called up share capital 9 21 21
Retained earnings 10 13,870 2,922
SHAREHOLDERS' FUNDS 13,891 2,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2023 and were signed on its behalf by:





D Herrington - Director


Summercombe No 87 Limited (Registered number: 03830530)

Notes to the Financial Statements
for the Period 1 March 2022 to 31 May 2023

1. STATUTORY INFORMATION

Summercombe No 87 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Fixed assets are stated at cost less accumulated depreciation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Office &
Plant and and Motor sundry
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 9,642 6,055 45,451 5,455 66,603
Additions 92 - - 1,097 1,189
At 31 May 2023 9,734 6,055 45,451 6,552 67,792
DEPRECIATION
At 1 March 2022 9,642 6,055 44,514 4,256 64,467
Charge for period 71 - 937 1,060 2,068
At 31 May 2023 9,713 6,055 45,451 5,316 66,535
NET BOOK VALUE
At 31 May 2023 21 - - 1,236 1,257
At 28 February 2022 - - 937 1,199 2,136

Summercombe No 87 Limited (Registered number: 03830530)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 28.2.22
£    £   
Trade debtors 48,797 32,695
Other debtors 17,500 17,500
VAT 32,182 11,532
Deferred tax asset 7,355 7,760
105,834 69,487

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 28.2.22
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 12,657 1,447
Social security and other taxes 992 1,384
Other creditors 6,000 6,000
Wages control a/c 12,787 9,538
Directors' current accounts 127,322 68,073
Accrued expenses 3,965 3,860
169,723 96,302

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 28.2.22
£    £   
Bank loans - 1-2 years 12,900 6,000
Bank loans - 2-5 years - 14,500
12,900 20,500

8. DEFERRED TAX
£   
Balance at 1 March 2022 (7,760 )
Deferred tax 405
Balance at 31 May 2023 (7,355 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 28.2.22
value: £    £   
21 ordinary £1 21 21

10. RESERVES
Retained
earnings
£   

At 1 March 2022 2,922
Profit for the period 10,948
At 31 May 2023 13,870

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr PJ Bennett & Mr D Herrington.