Summers Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03443665 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Summers Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

J F Summers

A N Summers

M Summers

REGISTERED OFFICE:

Cank Farm

Well Lane

Tanworth in Arden

Solihull

West Midlands

B94 5AH

REGISTERED NUMBER:

03443665 (England and Wales)

ACCOUNTANTS:

Goodwins

6 Parkside Court

Greenhough Road

Lichfield

Staffordshire

WS13 7AU

FIXED ASSETS

Tangible assets

4

1,126,329

1,148,261

CURRENT ASSETS

Debtors

5

475,671

732,278

Cash at bank and in hand

1,141

275

476,812

732,553

CREDITORS

Amounts falling due within one year

6

781,631

892,161

NET CURRENT LIABILITIES

(304,819

)

(159,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

821,510

988,653

CREDITORS

Amounts falling due after more than one year

7

664,273

564,503

NET ASSETS

157,237

424,150

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

5,681,217

5,681,217

Retained earnings

(5,524,080

)

(5,257,167

)

SHAREHOLDERS' FUNDS

157,237

424,150

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 27 May 2024 and were signed on its behalf by:

A N Summers - Director

1.	STATUTORY INFORMATION

Summers Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office 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.

Land and buildings

-

No depreciation

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2022

1,076,000

259,171

1,335,171

Additions

-

9,177

9,177

At 31 August 2023

1,076,000

268,348

1,344,348

DEPRECIATION

At 1 September 2022

-

186,910

186,910

Charge for year

-

31,109

31,109

At 31 August 2023

-

218,019

218,019

NET BOOK VALUE

At 31 August 2023

1,076,000

50,329

1,126,329

At 31 August 2022

1,076,000

72,261

1,148,261

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

70,056

155,397

Other debtors

405,615

576,881

475,671

732,278

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade creditors

39,489

842

Amounts owed to group undertakings

46,800

79,678

Taxation and social security

1,005

35,746

Other creditors

694,337

775,895

781,631

892,161

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans

664,273

564,503

8.

RESERVES

Revaluation

reserve

£

At 1 September 2022

and 31 August 2023

5,681,217

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages one to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Goodwins

6 Parkside Court

Greenhough Road

Lichfield

Staffordshire

WS13 7AU

27 May 2024