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REGISTERED NUMBER: 13509598 (England and Wales)










REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 14 JULY 2021 TO 30 JULY 2022

FOR

SANFORD STREET LTD

SANFORD STREET LTD (REGISTERED NUMBER: 13509598)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 14 JULY 2021 TO 30 JULY 2022




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


SANFORD STREET LTD

COMPANY INFORMATION
For The Period 14 JULY 2021 TO 30 JULY 2022







DIRECTORS: Mr S T Savage
Mr A S Christofis





REGISTERED OFFICE: 1 Kings Avenue
Winchmore Hill
London
N21 3NA





REGISTERED NUMBER: 13509598 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

REPORT OF THE DIRECTORS
For The Period 14 JULY 2021 TO 30 JULY 2022

The directors present their report with the financial statements of the company for the period 14 July 2021 to 30 July 2022.

INCORPORATION
The company was incorporated on 14 July 2021 .

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of investment property.

DIRECTORS
The directors shown below have held office during the whole of the period from 14 July 2021 to the date of this report.

Mr S T Savage
Mr A S Christofis

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr S T Savage - Director


5 October 2023

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SANFORD STREET LTD


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sanford Street Ltd for the period ended 30 July 2022 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sanford Street Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sanford Street Ltd and state those matters that we have agreed to state to the Board of Directors of Sanford Street Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sanford Street Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sanford Street Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sanford Street Ltd. You consider that Sanford Street Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Sanford Street Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA


5 October 2023

SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

INCOME STATEMENT
For The Period 14 JULY 2021 TO 30 JULY 2022

£   

TURNOVER 111,157

Administrative expenses 291,494
OPERATING LOSS (180,337 )

Interest receivable and similar income 7,235
(173,102 )

Interest payable and similar expenses 352,924
LOSS BEFORE TAXATION (526,026 )

Tax on loss -
LOSS FOR THE FINANCIAL PERIOD (526,026 )

SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

STATEMENT OF FINANCIAL POSITION
30 JULY 2022

Notes £    £   
FIXED ASSETS
Investment property 4 4,220,970

CURRENT ASSETS
Debtors 5 216,792
Cash at bank and in hand 12,508
229,300
CREDITORS
Amounts falling due within one year 6 749,946
NET CURRENT LIABILITIES (520,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,700,324

CREDITORS
Amounts falling due after more than one
year

7

4,226,250
NET LIABILITIES (525,926 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (526,026 )
(525,926 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 July 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 2022 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mr S T Savage - Director


SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 14 JULY 2021 TO 30 JULY 2022

1. STATUTORY INFORMATION

Sanford Street Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the
company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates in relation to the carrying value of investment property. The most significant judgements and estimates affecting the valuation includes yields and estimated rental values.

Revenue
Revenue represents value of rents receivable excluding discount, rebates during the accounting period. Revenue is recognised evenly over the period of rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the period 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 statement of financial position date.


SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 14 JULY 2021 TO 30 JULY 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 4,220,970
At 30 July 2022 4,220,970
NET BOOK VALUE
At 30 July 2022 4,220,970

2022
£
Cost4,220,970

Investment property was valued on an open market basis on 30 July 2022 by the directors.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 173,229
Other debtors 43,563
216,792

SANFORD STREET LTD (REGISTERED NUMBER: 13509598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 14 JULY 2021 TO 30 JULY 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 244,059
Other creditors 505,887
749,946

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 4,226,250

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,226,250

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loan 4,226,250

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in the other debtors due within one year is an amount of £41,000 due from connected companies with common control and shareholding. The loans were interest free and repayable on demand.

Included in the other creditors due within one year is an amount of £412,069 due to connected company with common control and shareholding. The loans were interest free and repayable on demand.