| Summerland Limited |
| Registered number: |
05521225 |
| Abbreviated Balance Sheet |
| as at 30 September 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
947,036 |
|
|
895,749 |
|
| Current assets |
| Debtors |
|
|
12,266 |
|
|
16,474 |
| Cash at bank and in hand |
|
|
13,543 |
|
|
775 |
|
|
|
25,809 |
|
|
17,249 |
|
| Creditors: amounts falling due within one year |
|
|
(54,814) |
|
|
(40,071) |
|
| Net current liabilities |
|
|
|
(29,005) |
|
|
(22,822) |
|
| Total assets less current liabilities |
|
|
|
918,031 |
|
|
872,927 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(603,916) |
|
|
(599,845) |
|
|
|
| Net assets |
|
|
|
314,115 |
|
|
273,082 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
314,111 |
|
|
273,078 |
|
| Shareholders' funds |
|
|
|
314,115 |
|
|
273,082 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr Nilesh Patel |
| Director |
| Approved by the board on 12 June 2017 |
|
| Summerland Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of rents receivable for the period. |
|
|
Investment properties |
|
Investment properties are revalued annually. Surpluses or deficits on individual properties are transferred to the investment revaluation reserve, except that a deficit which is expected to be permanent and which is in excess of any previously recognised surplus over cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. Depreciation is not provided in respect of freehold investment properties, or in respect of leasehold investment properties where the unexpired term of the lease is more than 20 years. The directors consider that this accounting policy, which represents a departure from the statutory accounting rules, is necessary to provide a true and fair view as required under SSAP 19 "Accounting for investment properties". The financial effect of the departure from the statutory accounting rules is not material. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2015 |
895,749 |
|
Additions |
51,287 |
|
At 30 September 2016 |
947,036 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2016 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2016 |
947,036 |
|
At 30 September 2015 |
895,749 |
|
|
|
|
|
|
|
|
| 3 |
Loans |
2016 |
|
2015 |
| £ |
£ |
|
Creditors include: |
|
Secured bank loans |
320,832 |
|
352,856 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
4 |
|
4 |
|
4 |
|
|
|
|
|
|
|
|
|
