Black Sand Industries Limited 14114761 false 2022-05-18 2023-05-31 2023-05-31 The principal activity of the company is retail of watersports equipment and apparel Digita Accounts Production Advanced 6.30.9574.0 true 14114761 2022-05-18 2023-05-31 14114761 2023-05-31 14114761 bus:OrdinaryShareClass1 2023-05-31 14114761 core:CurrentFinancialInstruments 2023-05-31 14114761 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14114761 core:OtherPropertyPlantEquipment 2023-05-31 14114761 bus:SmallEntities 2022-05-18 2023-05-31 14114761 bus:AuditExemptWithAccountantsReport 2022-05-18 2023-05-31 14114761 bus:FullAccounts 2022-05-18 2023-05-31 14114761 bus:SmallCompaniesRegimeForAccounts 2022-05-18 2023-05-31 14114761 bus:RegisteredOffice 2022-05-18 2023-05-31 14114761 bus:Director1 2022-05-18 2023-05-31 14114761 bus:Director2 2022-05-18 2023-05-31 14114761 bus:OrdinaryShareClass1 2022-05-18 2023-05-31 14114761 bus:PrivateLimitedCompanyLtd 2022-05-18 2023-05-31 14114761 core:OtherPropertyPlantEquipment 2022-05-18 2023-05-31 14114761 core:PlantMachinery 2022-05-18 2023-05-31 14114761 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-05-18 2023-05-31 14114761 countries:England 2022-05-18 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14114761

Black Sand Industries Limited

trading as Ocean and River

Annual Report and Unaudited Financial Statements

for the Period from 18 May 2022 to 31 May 2023

 

Black Sand Industries Limited

trading as Ocean and River

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Black Sand Industries Limited

trading as Ocean and River

Company Information

Directors

Mr I C Black

Mr S P Andrew

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Black Sand Industries Limited

trading as Ocean and River

(Registration number: 14114761)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

5,100

Current assets

 

Debtors

5

100

Cash at bank and in hand

 

12,787

 

12,887

Creditors: Amounts falling due within one year

6

(17,302)

Net current liabilities

 

(4,415)

Total assets less current liabilities

 

685

Provisions for liabilities

(111)

Net assets

 

574

Capital and reserves

 

Called up share capital

7

100

Retained earnings

474

Shareholders' funds

 

574

For the financial period ending 31 May 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Black Sand Industries Limited

trading as Ocean and River

(Registration number: 14114761)
Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
Mr I C Black
Director

.........................................
Mr S P Andrew
Director

 

Black Sand Industries Limited

trading as Ocean and River

Notes to the Unaudited Financial Statements for the Period from 18 May 2022 to 31 May 2023

1

General information

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

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the Board on 16 February 2024.

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 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.

 

Black Sand Industries Limited

trading as Ocean and River

Notes to the Unaudited Financial Statements for the Period from 18 May 2022 to 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

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. 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.

 

Black Sand Industries Limited

trading as Ocean and River

Notes to the Unaudited Financial Statements for the Period from 18 May 2022 to 31 May 2023

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.

3

Staff numbers

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

 

Black Sand Industries Limited

trading as Ocean and River

Notes to the Unaudited Financial Statements for the Period from 18 May 2022 to 31 May 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

6,800

6,800

At 31 May 2023

6,800

6,800

Depreciation

Charge for the period

1,700

1,700

At 31 May 2023

1,700

1,700

Carrying amount

At 31 May 2023

5,100

5,100

5

Debtors

Current

2023
£

Other debtors

100

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

16,712

Accruals and deferred income

590

17,302

 

Black Sand Industries Limited

trading as Ocean and River

Notes to the Unaudited Financial Statements for the Period from 18 May 2022 to 31 May 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

Blackboards Europe Limited
Sand Sports Limited

 (Companies under the control of Mr I Black and Mr S Andrew)
 During the year there were transactions between both Blackboards Europe Limited and Sand Sports Limited.
at the balance sheet date the amount due to both companies was £50.

The company at the balance sheet date owes Blackboards Europe Limited £16,712, which is included in trade creditors.