Silverfin false 31/03/2023 01/04/2022 31/03/2023 A Fellows 12/11/2020 L Green 31/03/2023 12/11/2020 A L Mcgivney 31/03/2023 12/11/2020 L C Redknapp 12/11/2020 03 October 2023 The principal activity of the Company during the financial year was that of private air charter. 13014005 2023-03-31 13014005 bus:Director1 2023-03-31 13014005 bus:Director2 2023-03-31 13014005 bus:Director3 2023-03-31 13014005 bus:Director4 2023-03-31 13014005 2022-03-31 13014005 core:CurrentFinancialInstruments 2023-03-31 13014005 core:CurrentFinancialInstruments 2022-03-31 13014005 core:ShareCapital 2023-03-31 13014005 core:ShareCapital 2022-03-31 13014005 core:RetainedEarningsAccumulatedLosses 2023-03-31 13014005 core:RetainedEarningsAccumulatedLosses 2022-03-31 13014005 core:OfficeEquipment 2022-03-31 13014005 core:ComputerEquipment 2022-03-31 13014005 core:OfficeEquipment 2023-03-31 13014005 core:ComputerEquipment 2023-03-31 13014005 2022-04-01 2023-03-31 13014005 bus:FullAccounts 2022-04-01 2023-03-31 13014005 bus:SmallEntities 2022-04-01 2023-03-31 13014005 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13014005 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13014005 bus:Director1 2022-04-01 2023-03-31 13014005 bus:Director2 2022-04-01 2023-03-31 13014005 bus:Director3 2022-04-01 2023-03-31 13014005 bus:Director4 2022-04-01 2023-03-31 13014005 core:OfficeEquipment 2022-04-01 2023-03-31 13014005 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 13014005 2021-04-01 2022-03-31 13014005 core:ComputerEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 13014005 (England and Wales)

SANDBANKS JETS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

SANDBANKS JETS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

SANDBANKS JETS LIMITED

BALANCE SHEET

As at 31 March 2023
SANDBANKS JETS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 5,447 3,026
5,447 3,026
Current assets
Debtors 4 72,771 14,774
Cash at bank and in hand 164,555 31,949
237,326 46,723
Creditors: amounts falling due within one year 5 ( 296,595) ( 46,583)
Net current (liabilities)/assets (59,269) 140
Total assets less current liabilities (53,822) 3,166
Net (liabilities)/assets ( 53,822) 3,166
Capital and reserves
Called-up share capital 4 4
Profit and loss account 7 ( 53,826 ) 3,162
Total shareholders' (deficit)/funds ( 53,822) 3,166

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sandbanks Jets Limited (registered number: 13014005) were approved and authorised for issue by the Board of Directors on 03 October 2023. They were signed on its behalf by:

A Fellows
Director
L C Redknapp
Director
SANDBANKS JETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
SANDBANKS JETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sandbanks Jets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2 -8 Parkstone Road, Poole, BH15 2PW, England, United Kingdom. The principal place of business is Eldon House, 75 Poole Road, Westbourne, Dorset, BH4 9BB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £53,822. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 April 2022 1,924 1,505 3,429
Additions 439 3,329 3,768
At 31 March 2023 2,363 4,834 7,197
Accumulated depreciation
At 01 April 2022 162 241 403
Charge for the financial year 352 995 1,347
At 31 March 2023 514 1,236 1,750
Net book value
At 31 March 2023 1,849 3,598 5,447
At 31 March 2022 1,762 1,264 3,026

4. Debtors

2023 2022
£ £
Trade debtors 3,632 3,543
Other debtors 69,139 11,231
72,771 14,774

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 67,912 35,843
Taxation and social security 18,117 6,677
Other creditors 210,566 4,063
296,595 46,583

6. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Key management 0 10,004

The amounts were repaid within 9 months of the year end.

7. Dividends

The directors acknowledge dividends were declared and paid in contravention of Section 830 of the Companies Act 2006, however, at the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution.

The directors acknowledge that further distributions cannot be made until there are sufficient profits available for the purpose.