Caseware UK (AP4) 2022.0.179 2022.0.179 2022-08-312022-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12021-09-01falsetrueEvent catering activities1false 12955392 2021-09-01 2022-08-31 12955392 2020-10-15 2021-08-31 12955392 2022-08-31 12955392 2021-08-31 12955392 c:Director1 2021-09-01 2022-08-31 12955392 d:CurrentFinancialInstruments 2022-08-31 12955392 d:CurrentFinancialInstruments 2021-08-31 12955392 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12955392 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 12955392 d:ShareCapital 2022-08-31 12955392 d:ShareCapital 2021-08-31 12955392 d:RetainedEarningsAccumulatedLosses 2022-08-31 12955392 d:RetainedEarningsAccumulatedLosses 2021-08-31 12955392 c:OrdinaryShareClass1 2021-09-01 2022-08-31 12955392 c:OrdinaryShareClass1 2022-08-31 12955392 c:OrdinaryShareClass1 2021-08-31 12955392 c:FRS102 2021-09-01 2022-08-31 12955392 c:AuditExempt-NoAccountantsReport 2021-09-01 2022-08-31 12955392 c:FullAccounts 2021-09-01 2022-08-31 12955392 c:PrivateLimitedCompanyLtd 2021-09-01 2022-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12955392










SANDS CATERING SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2022

 
SANDS CATERING SERVICES LIMITED
REGISTERED NUMBER: 12955392

BALANCE SHEET
AS AT 31 AUGUST 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
98,605
22,674

Cash at bank and in hand
 5 
595,540
297,424

  
694,145
320,098

Creditors: amounts falling due within one year
 6 
(688,296)
(322,000)

  

Net assets/(liabilities)
  
5,849
(1,902)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
5,749
(2,002)

  
5,849
(1,902)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr M U Rapacioli
Director

Date: 20 October 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SANDS CATERING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

1.


General information

Sands Catering Services Limited a private company, limited by shares, registered in England and Wales within the United Kingdom. The company registration number 12955392. The registered office address is 20 Tileyard Road, London, United Kingdom, N7 9AH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are for the year ended 31 August 2022. The financial statements for the previous period are for the period from 15 October 2020  to 31 August 2021 and hence are not entirely comparable.
The Company's functional and presentational currency is GBP, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has prepared the financial statements on a going concern basis as the shareholders
have committed to providing financial support as required. The going concern basis is considered by
the director to be appropriate due to the willingness and ability of the Company's investors to
continue to support the Company for at least 12 months from the date of approval of the financial
statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
SANDS CATERING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.
Page 3

 
SANDS CATERING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
80
80

Other debtors
69
20

Prepayments and accrued income
98,456
22,574

98,605
22,674



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
595,540
297,424


Page 4

 
SANDS CATERING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
647,641
320,000

Corporation tax
1,405
-

Accruals and deferred income
39,250
2,000

688,296
322,000


Amounts owed to group undertakings of £647,641 (2021: £320,000) were unsecured, interest-free and repayable on demand.


7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

During the year the Company charged rent and insurance of £28,959 (2021: £20,074) to Supernote Limited, a fellow subsidiary of the parent company, Sands Catering Company Limited. During the year, Supernote Limited made advances totalling £327,641 (2021: £320,000) to Sands Catering Services Limited. At 31 August 2022, £647,641 (2021: £320,000) was owed to Supernote Limited.


9.


Controlling party

The Company was controlled throughout the year by its ultimate parent company, Sands Catering Company Limited, a company incorporated in England and Wales, by virtue of its 80% ownership of the issued share capital of the company. The registered address of Sands Catering Company Limited is 20 Tileyard Road, London, N7 9AH.
The Company's ultimate controlling party is Mr M U Rapacioli by virtue of his 100% ownership of the shares in Sands Catering Company Limited, the company's ultimate parent company.

Page 5