Registered number
13542278
Sandyman-Investments Limited
Filleted Accounts
31 August 2023
Sandyman-Investments Limited
Registered number: 13542278
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 57,188 5,188
Tangible assets 4 577,356 212,428
634,544 217,616
Current assets
Stocks 31,000 14,000
Debtors 5 50,000 24,700
Cash at bank and in hand 312,272 131,395
393,272 170,095
Creditors: amounts falling due within one year 6 (206,006) (52,549)
Net current assets 187,266 117,546
Total assets less current liabilities 821,810 335,162
Creditors: amounts falling due after more than one year 7 (759,380) (300,700)
Net assets 62,430 34,462
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,330 34,362
Shareholders' funds 62,430 34,462
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Sandstrom
Director
Approved by the board on 30 April 2024
Sandyman-Investments Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 59 32
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 5,765
Additions 55,000
At 31 August 2023 60,765
Amortisation
At 1 September 2022 577
Provided during the year 3,000
At 31 August 2023 3,577
Net book value
At 31 August 2023 57,188
At 31 August 2022 5,188
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 143,561 92,590 - 236,151
Additions 204,112 184,129 4,655 392,896
At 31 August 2023 347,673 276,719 4,655 629,047
Depreciation
At 1 September 2022 14,356 9,367 - 23,723
Charge for the year 14,767 12,671 530 27,968
At 31 August 2023 29,123 22,038 530 51,691
Net book value
At 31 August 2023 318,550 254,681 4,125 577,356
At 31 August 2022 129,205 83,223 - 212,428
5 Debtors 2023 2022
£ £
Other debtors 50,000 24,700
Amounts due after more than one year included above 39,500 24,500
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 51,500 -
Trade creditors 44,851 31,970
Taxation and social security costs 58,683 7,753
Director's loan 50,972 12,826
206,006 52,549
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 238,680 -
Other creditors 520,700 300,700
759,380 300,700
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 290,180 -
The bank loan provided by HSBC Bank is secured by a fixed and floating charge under a debenture granted on 3 March 2023.
9 Other information
Sandyman-Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Pound Lane
Marlow
Buckinghamshire
SL7 2AW
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