SUMMIT_REAL_ESTATE_LIMITE - Accounts
SUMMIT_REAL_ESTATE_LIMITE - Accounts
Company Registration No. 08598644 (England and Wales)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
-
Creditors: amounts falling due within one year
(8,933,300 )
(8,247,113 )
Net current liabilities
(1,636,880 )
(990,594 )
Total assets less current liabilities
(1,636,370 )
(985,414 )
Capital and reserves
Called up share capital
3
Profit and loss account
(1,636,470 )
(985,514 )
Shareholder's funds
(1,636,370 )
(985,414 )
Director's responsibilities:
-
-
Approved by the Board for issue on 23 December 2016
Director
Company Registration No. 08598644
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The company made a loss for the period and has a balance deficit. The company is dependent on the continued support of its creditors.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover and profits
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
1.4
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
1.5
Stock
Work in progress is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
14,010
Depreciation
At 1 September 2015
8,830
Charge for the year
4,670
At 31 August 2016
13,500
Net book value
At 31 August 2016
510
At 31 August 2015
5,180
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid