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REGISTERED NUMBER: NI068702 (Northern Ireland)











Sands Marine & Leisure Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Sands Marine & Leisure Ltd (Registered number: NI068702)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Sands Marine & Leisure Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: N A Sands





REGISTERED OFFICE: Kinnego Marina
Oxford Island
Lurgan
Co. Armagh
BT66 6NJ





REGISTERED NUMBER: NI068702 (Northern Ireland)





ACCOUNTANTS: S.M. Vint & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN

Sands Marine & Leisure Ltd

Report of the Accountants to the Director of
Sands Marine & Leisure Ltd


The following reproduces the text of the report prepared for the director 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 Director 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 March 2023 set out on pages four to ten 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.






S.M. Vint & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN


26 October 2023

Sands Marine & Leisure Ltd (Registered number: NI068702)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,217 30,990
33,217 30,990

CURRENT ASSETS
Stocks 123,721 111,445
Debtors 6 33,708 17,176
Cash at bank 111,799 160,112
269,228 288,733
CREDITORS
Amounts falling due within one year 7 188,218 181,445
NET CURRENT ASSETS 81,010 107,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,227

138,278

PROVISIONS FOR LIABILITIES 8,153 5,750
NET ASSETS 106,074 132,528

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 105,973 132,427
SHAREHOLDERS' FUNDS 106,074 132,528

Sands Marine & Leisure Ltd (Registered number: NI068702)

Balance Sheet - continued
31 March 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 October 2023 and were signed by:





N A Sands - Director


Sands Marine & Leisure Ltd (Registered number: NI068702)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Sands Marine & Leisure Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Sands Marine & Leisure Ltd (Registered number: NI068702)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 24,000
AMORTISATION
At 1 April 2022
and 31 March 2023 24,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Sands Marine & Leisure Ltd (Registered number: NI068702)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 48,200 4,220 52,420
Additions 23,855 175 24,030
Disposals (13,500 ) - (13,500 )
At 31 March 2023 58,555 4,395 62,950
DEPRECIATION
At 1 April 2022 18,908 2,522 21,430
Charge for year 7,936 374 8,310
Eliminated on disposal (7 ) - (7 )
At 31 March 2023 26,837 2,896 29,733
NET BOOK VALUE
At 31 March 2023 31,718 1,499 33,217
At 31 March 2022 29,292 1,698 30,990

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,708 6,376
Other debtors - 10,800
33,708 17,176

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,605 10,118
Trade creditors 111,121 91,117
Taxation and social security 3,978 26,741
Other creditors 63,514 53,469
188,218 181,445