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REGISTERED NUMBER: 11829190 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SOUTH SANDS LTD

SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH SANDS LTD

COMPANY INFORMATION
for the year ended 28 FEBRUARY 2023







DIRECTOR: K Kimitri





REGISTERED OFFICE: 44 Boulevard
Weston Super Mare
Somerset
BS23 1NF





REGISTERED NUMBER: 11829190 (England and Wales)





ACCOUNTANTS: Randall Robinson
Chartered Certified Accountants
Office 3.14
85 Gresham Street
London
EC2V 7NQ

SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,013 45,981
Investments 5 1,819,000 1,819,000
1,912,013 1,864,981

CURRENT ASSETS
Stocks 22,856 21,468
Debtors 6 544,025 593,291
Cash at bank 1,543 12,104
568,424 626,863
CREDITORS
Amounts falling due within one year 7 246,811 109,522
NET CURRENT ASSETS 321,613 517,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,233,626

2,382,322

CREDITORS
Amounts falling due after more than
one year

8

2,503,877

2,497,407
NET LIABILITIES (270,251 ) (115,085 )

SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

BALANCE SHEET - continued
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (270,252 ) (115,086 )
(270,251 ) (115,085 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 16 November 2023 and were signed by:





K Kimitri - Director


SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023


1. STATUTORY INFORMATION

South Sands 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 50,393
Additions 55,699
At 28 February 2023 106,092
DEPRECIATION
At 1 March 2022 4,412
Charge for year 8,667
At 28 February 2023 13,079
NET BOOK VALUE
At 28 February 2023 93,013
At 28 February 2022 45,981

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 1,819,000
NET BOOK VALUE
At 28 February 2023 1,819,000
At 28 February 2022 1,819,000

SOUTH SANDS LTD (REGISTERED NUMBER: 11829190)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023


5. FIXED ASSET INVESTMENTS - continued

On 24 July 2019 the company purchased the entire share capital K C Advisory Management Ltd for £2.26M

In November 2019 the company sold 21 % of the shares to Paul Gravatt for £441,000

A floating charge was created on 18 July 2019 for the benefit of Straight Eight International Ltd.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Other debtors 544,025 593,291

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,404 10,404
Trade creditors 160,366 76,625
Taxation and social security 68,391 12,009
Other creditors 7,650 10,484
246,811 109,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,489 35,316
Other creditors 2,473,388 2,462,091
2,503,877 2,497,407