Summer Place Properties Limited - Accounts to registrar (filleted) - small 22.3
Summer Place Properties Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| SUMMER PLACE PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SUMMER PLACE PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Elfed House |
| Oak Tree Court |
| Cardiff Gate Business Park |
| CARDIFF |
| County of Cardiff |
| CF23 8RS |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| BALANCE SHEET |
| 30 JUNE 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Non distributable reserve |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| BALANCE SHEET - continued |
| 30 JUNE 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved for issue by the Board of Directors and authorised for issue on |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 1. | STATUTORY INFORMATION |
| Summer Place Properties Limited is a |
| The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound. |
| The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of the investment property. |
| There have been no material departures from Financial Reporting Standard 102 1A. |
| Turnover |
| Turnover consists of rent receivable during the year, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Investment property |
| Investment properties are carried at fair value. Revaluation surpluses and deficits are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold, or the deferred tax liability is settled. |
| Current taxation |
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to |
| property |
| £ |
| COST |
| At 1 July 2021 |
| and 30 June 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| Charge for year |
| At 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2021 |
| Revaluations | 32,000 |
| At 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| The investment property was valued on a fair value basis at 30 June 2022 by the directors. In valuing the property the directors have considered future anticipated rental yields of the property. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Corporation tax |
| Deposit payments held | 6,150 | 6,150 |
| Accruals and deferred income |
| SUMMER PLACE PROPERTIES LIMITED (REGISTERED NUMBER: 11718714) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans | 212,020 | 211,095 |
| Directors' loan accounts | 317,158 | 346,846 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The bank loan is secured by way of a charge over the investment property to which it relates. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |