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REGISTERED NUMBER: 01419000 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

Sandwick Developments & Investments Ltd

Sandwick Developments & Investments Ltd (Registered number: 01419000)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sandwick Developments & Investments Ltd

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: J M Harrison
Mrs P A Harrison
E J Harrison





REGISTERED OFFICE: Pickwick House
Corfe
Taunton
Somerset
TA3 7BY





REGISTERED NUMBER: 01419000 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

Sandwick Developments & Investments Ltd (Registered number: 01419000)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,905 2,381
Investment property 5 2,620,000 2,620,000
2,621,905 2,622,381

CURRENT ASSETS
Debtors 6 920,521 896,823
Cash at bank 181,795 224,952
1,102,316 1,121,775
CREDITORS
Amounts falling due within one year 7 415,837 461,384
NET CURRENT ASSETS 686,479 660,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,308,384

3,282,772

CREDITORS
Amounts falling due after more than one year 8 (27,492 ) (16,250 )

PROVISIONS FOR LIABILITIES (317,075 ) (317,075 )
NET ASSETS 2,963,817 2,949,447

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve 1,693,193 1,693,193
Retained earnings 1,270,618 1,256,248
SHAREHOLDERS' FUNDS 2,963,817 2,949,447

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 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 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 Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:




J M Harrison - Director


Sandwick Developments & Investments Ltd (Registered number: 01419000)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Sandwick Developments & Investments 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income and is recognised according to the terms of letting agreements.

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
Office equipment - 20% on reducing balance

Investment property
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to a fair value reserve. No depreciation is provided in respect of investment properties since in the opinion of the directors their value is considerably in excess of cost.

Taxation
Taxation for the year comprises current tax recognised as the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is not recognised in respect of any timing differences which may have originated but not been reversed at the balance sheet date as regards tangible fixed assets since the amount is not considered to be material.

Deferred tax is recognised in respect of contingent tax included in the adjustments to the fair value of investment property.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 5,733 15,645 21,378
DEPRECIATION
At 1 April 2022 5,355 13,642 18,997
Charge for year 76 400 476
At 31 March 2023 5,431 14,042 19,473
NET BOOK VALUE
At 31 March 2023 302 1,603 1,905
At 31 March 2022 378 2,003 2,381

Sandwick Developments & Investments Ltd (Registered number: 01419000)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,620,000
NET BOOK VALUE
At 31 March 2023 2,620,000
At 31 March 2022 2,620,000

Included in fair value of investment property is freehold land of £ 2,620,000 (2022 - £ 2,620,000 ) which is not depreciated.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2015 381,000
Valuation in 2011 175,000
Valuation in 2010 531,005
Valuation in 2009 522,782
Valuation in 2018 214,480
Valuation in 2020 16,000
Valuation in 2021 170,000
Cost 609,733
2,620,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 609,733 609,733

Investment property was valued on an open market basis on 31 March 2023 by J M Harrison .

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Other debtors 32,138 8,440

Amounts falling due after more than one year:
Other debtors 888,383 888,383

Aggregate amounts 920,521 896,823

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 16,843 38,161
Trade creditors 2,721 3,691
Taxation and social security 982 2,907
Other creditors 395,291 416,625
415,837 461,384

Sandwick Developments & Investments Ltd (Registered number: 01419000)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 27,492 16,250