Summer Limited - Period Ending 2017-12-29
Summer Limited - Period Ending 2017-12-29
Registration number:
Summer Limited
for the Period from 1 January 2017 to 29 December 2017
Summer Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Summer Limited
(Registration number: 04944165)
Balance Sheet as at 29 December 2017
Note |
2017 |
2016 |
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Total equity |
|
|
For the financial period ending 29 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Mr M C Clark
Director
Page 1 |
Summer Limited
Notes to the Financial Statements for the Period from 1 January 2017 to 29 December 2017
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 2 |
Summer Limited
Notes to the Financial Statements for the Period from 1 January 2017 to 29 December 2017
Debtors |
2017 |
2016 |
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
Note |
2017 |
2016 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Other creditors |
|
|
|
|
|
Page 3 |
Summer Limited
Notes to the Financial Statements for the Period from 1 January 2017 to 29 December 2017
Related party transactions |
Summary of transactions with other related parties
Income and receivables from related parties
2017 |
2016 |
Other related parties |
Receipt of services |
|
Amounts receivable from related party |
|
Expenditure with and payables to related parties
2017 |
2016 |
Other related parties |
Rendering of services |
|
Parent and ultimate parent undertaking |
The ultimate controlling party is
Page 4 |