Summerfield Industries Limited - Limited company - abbreviated - 11.9

Summerfield Industries Limited - Limited company - abbreviated - 11.9

SUMMERFIELD INDUSTRIES LIMITED - Company Information

Print Friendly Version

01532204 1.4.14 31.3.15 31.3.15 Company accounts Private Limited Company FY true false true false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure015322042014-03-31015322042015-03-31015322042014-04-012015-03-31015322042013-03-31015322042013-04-012014-03-31015322042014-03-3101532204ns12:England2014-04-012015-03-3101532204ns14:PoundSterling2014-04-012015-03-3101532204ns7:Director12014-04-012015-03-3101532204ns7:OrdinaryShareClass12014-04-012015-03-3101532204ns7:RegisteredOffice2014-04-012015-03-3101532204ns7:EntityAccountantsOrAuditors2014-04-012015-03-3101532204ns5:InvestmentProperties2015-03-3101532204ns5:InvestmentProperties2014-03-3101532204ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2014-04-012015-03-3101532204ns5:PlantMachinery2014-04-012015-03-3101532204ns5:MotorVehicles2014-04-012015-03-3101532204ns5:ComputerEquipment2014-04-012015-03-3101532204ns5:FixedAssetInvestmentsOtherThanLoans2015-03-3101532204ns5:FixedAssetInvestmentsOtherThanLoans2014-03-3101532204ns5:Subsidiary12014-04-012015-03-3101532204ns5:Subsidiary12013-04-012014-03-3101532204ns5:InvestmentProperties2014-03-3101532204ns5:InvestmentProperties2014-04-012015-03-3101532204ns7:OrdinaryShareClass12015-03-3101532204ns7:OrdinaryShareClass12014-03-31
REGISTERED NUMBER: 01532204 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

SUMMERFIELD INDUSTRIES LIMITED

SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

SUMMERFIELD INDUSTRIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2015







DIRECTOR: Jane Elizabeth Haywood





REGISTERED OFFICE: 22 Sansome Walk
Worcester
Worcestershire
WR1 1LS





REGISTERED NUMBER: 01532204 (England and Wales)





ACCOUNTANTS: John Yelland & Company
Chartered Accountants
22 Sansome Walk
Worcester
Worcestershire
WR1 1LS
Page 1
SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)

ABBREVIATED BALANCE SHEET
31ST MARCH 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 41,705 513,703
Investments 3 1 1
Investment property 4 1,273,615 830,000
1,315,321 1,343,704

CURRENT ASSETS
Stocks 153,313 -
Debtors 792,131 804,004
Cash at bank 141,804 229,002
1,087,248 1,033,006
CREDITORS
Amounts falling due within one
year
5
79,789
92,684
NET CURRENT ASSETS 1,007,459 940,322
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,322,780
2,284,026

CREDITORS
Amounts falling due after more
than one year
5
(21,824		 )
-

PROVISIONS FOR LIABILITIES (1,936 ) (4,801 )
NET ASSETS 2,299,020 2,279,225

CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 343,550 333,232
Profit and loss account 1,955,370 1,945,893
SHAREHOLDERS' FUNDS 2,299,020 2,279,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these abbreviated accounts

Page 2 continued...
SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)

ABBREVIATED BALANCE SHEET - continued
31ST MARCH 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 24th October 2015 and
were signed by:





Jane Elizabeth Haywood - Director


The notes form part of these abbreviated accounts

Page 3
SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost
convention as modified by the revaluation of certain assets and in
accordance with the Financial Reporting Standard for Smaller Entities
(effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax,
except in respect of service contracts where turnover is recognised when
the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 2% on cost of buildings
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate
surplus or deficit arising from changes in market value is transferred to a
revaluation reserve.

Depreciation is not provided on freehold land and buildings held for
investment purposes. These are revalued annually in accordance with
Statement of Standard Accounting Practice No. 19. The aggregate surplus or
deficit is transferred to a revaluation reserve. The director considers
that this accounting policy results in the accounts giving a true and fair
view. If depreciation had been provided on the proportion of the cost
relating to buildings, then the charge calculated at 2% straight line per
annum would have been £11,066 (2014 £11,066) and the net profit would have
been reduced by that amount.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed
and variable overheads.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have
originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are
capitalised in the balance sheet. Those held under hire purchase contracts
are depreciated over their estimated useful lives. Those held under
finance leases are depreciated over their estimated useful lives or the
lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss
account over the relevant period. The capital element of the future
payments is treated as a liability.

Page 4 continued...
SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST MARCH 2015

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st April 2014 565,037
Additions 33,360
Disposals (60,000 )
Transfer Investment Property (443,615 )
At 31st March 2015 94,782
DEPRECIATION
At 1st April 2014 51,334
Charge for year 12,998
Eliminated on disposal (937 )
Transfer Investment Property (10,318 )
At 31st March 2015 53,077
NET BOOK VALUE
At 31st March 2015 41,705
At 31st March 2014 513,703

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1st April 2014
and 31st March 2015 1
NET BOOK VALUE
At 31st March 2015 1
At 31st March 2014 1

The company's investments at the Balance Sheet date in the share capital of
companies include the following:

Summerfield Property Worcester Limited
Nature of business: Property Rental
%
Class of shares: holding
Ordinary 100.00
2015 2014
£    £   
Aggregate capital and reserves 47,223 21,039
Profit for the year 26,184 21,038

Page 5 continued...
SUMMERFIELD INDUSTRIES LIMITED (REGISTERED NUMBER: 01532204)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST MARCH 2015

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1st April 2014 830,000
Transfer Freehold Property 443,615
At 31st March 2015 1,273,615
NET BOOK VALUE
At 31st March 2015 1,273,615
At 31st March 2014 830,000

5. CREDITORS

Creditors include an amount of £ 26,527 for which security has been given.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary Shares £1 100 100

Page 6