Sandpipers Limited 06271017 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the rental of investment property. Digita Accounts Production Advanced 6.30.9574.0 true 06271017 2022-07-01 2023-06-30 06271017 2023-06-30 06271017 core:OtherReservesSubtotal 2023-06-30 06271017 core:RetainedEarningsAccumulatedLosses 2023-06-30 06271017 core:ShareCapital 2023-06-30 06271017 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06271017 bus:SmallEntities 2022-07-01 2023-06-30 06271017 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06271017 bus:FullAccounts 2022-07-01 2023-06-30 06271017 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06271017 bus:RegisteredOffice 2022-07-01 2023-06-30 06271017 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 06271017 bus:Director1 2022-07-01 2023-06-30 06271017 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06271017 countries:EnglandWales 2022-07-01 2023-06-30 06271017 2022-06-30 06271017 2021-07-01 2022-06-30 06271017 2022-06-30 06271017 core:OtherReservesSubtotal 2022-06-30 06271017 core:RetainedEarningsAccumulatedLosses 2022-06-30 06271017 core:ShareCapital 2022-06-30 06271017 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 06271017

Sandpipers Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Sandpipers Limited
(Registration number: 06271017)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Sandpipers Limited
(Registration number: 06271017)

Company Information

Directors

Mrs W Stewart

Mr I G Stewart

Company secretary

Mr I G Stewart

Registered office

Sandpipers
Forster Road
Salcombe
TQ8 8EB

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Sandpipers Limited
(Registration number: 06271017)

Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

673,000

673,000

Current assets

 

Debtors

795

795

Cash at bank and in hand

 

11,740

22,297

 

12,535

23,092

Creditors: Amounts falling due within one year

5

(509,268)

(525,818)

Net current liabilities

 

(496,733)

(502,726)

Total assets less current liabilities

 

176,267

170,274

Provisions for liabilities

(39,650)

(30,134)

Net assets

 

136,617

140,140

Capital and reserves

 

Called up share capital

2

2

Other reserves

118,951

128,467

Profit and loss account

17,664

11,671

Total equity

 

136,617

140,140

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Sandpipers Limited
(Registration number: 06271017)

Balance Sheet as at 30 June 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 November 2023 and signed on its behalf by:
 

.........................................
Mr I G Stewart
Company secretary and director

 

Sandpipers Limited
(Registration number: 06271017)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sandpipers
Forster Road
Salcombe
TQ8 8EB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Sandpipers Limited
(Registration number: 06271017)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sandpipers Limited
(Registration number: 06271017)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Sandpipers Limited
(Registration number: 06271017)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Investment properties

2023
 £

At 1 July

673,000

Additions

-

Disposals

-

Transfers to and from property, plant and equipment

-

Fair value adjustments

-

At 30 June

673,000

The directors have considered the value of the investment properties based on their detailed knowledge of the local market and determined that there have been no material changes. A revaluation has therefore not been performed.

There has been no valuation of investment property by an independent valuer.

5

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

3,751

2,933

Other creditors

503,333

521,085

Accrued expenses

1,284

900

Deferred income

900

900

509,268

525,818