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COMPANY REGISTRATION NUMBER: 09108299
Sandgrouse Travel & Expeditions Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
Sandgrouse Travel & Expeditions Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
8,004
13,788
Current assets
Debtors
6
43,848
21,335
Cash at bank and in hand
289,275
151,045
---------
---------
333,123
172,380
Creditors: amounts falling due within one year
7
( 248,098)
( 155,973)
---------
---------
Net current assets
85,025
16,407
--------
--------
Total assets less current liabilities
93,029
30,195
--------
--------
Net assets
93,029
30,195
--------
--------
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss account
92,029
29,195
--------
--------
Shareholder funds
93,029
30,195
--------
--------
These Financial Statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its Financial Statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Financial Statements .
These Financial Statements were approved by the board of directors and authorised for issue on 29 March 2024 , and are signed on behalf of the board by:
J J J Stage
Director
Company registration number: 09108299
Sandgrouse Travel & Expeditions Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, London, United Kingdom, WC2H 7DQ. The address of the principal place of business is Denfield House, Trinity Gask, Auchterarder, PH3 1LH.
2. Statement of compliance
These Financial Statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. On this basis he continues to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. For an expense to be capitalised, it will have a minimum value of £500.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors, cash and bank balances, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Tax on profit
The company has an unrecognised deferred tax asset of £3,315 (2022: £1,678) which has arisen from fixed asset timig differences. Its recoverability is dependent upon suitable future profits arising against which the timing difference can be reversed, the likehood of which cannot at this stage be determined with reasonable certainty.
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
7,910
27,235
35,145
-------
--------
--------
Depreciation
At 1 July 2022
6,831
14,526
21,357
Charge for the year
337
5,447
5,784
-------
--------
--------
At 30 June 2023
7,168
19,973
27,141
-------
--------
--------
Carrying amount
At 30 June 2023
742
7,262
8,004
-------
--------
--------
At 30 June 2022
1,079
12,709
13,788
-------
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
43,848
21,335
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
16,561
4,263
Other creditors
231,537
151,710
---------
---------
248,098
155,973
---------
---------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
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-------
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