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Company No: 14490660 (England and Wales)

SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial period from 17 November 2022 to 31 March 2024
Pages for filing with the registrar

SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial period from 17 November 2022 to 31 March 2024

Contents

SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

COMPANY INFORMATION

For the financial period from 17 November 2022 to 31 March 2024
SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

COMPANY INFORMATION (continued)

For the financial period from 17 November 2022 to 31 March 2024
DIRECTORS Mr J D G Williams (Appointed 17 November 2022)
Ms C T Williams (Appointed 17 November 2022)
REGISTERED OFFICE Sandbanks 22 Sandyacres Road
Loggans
Hayle
Cornwall
TR27 5BA
United Kingdom
COMPANY NUMBER 14490660 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 March 2024
SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investments 3 998,715
998,715
Creditors: amounts falling due within one year 4 ( 998,795)
Net current liabilities (998,795)
Total assets less current liabilities (80)
Net liabilities ( 80)
Capital and reserves
Called-up share capital 5 400
Profit and loss account ( 480 )
Total shareholders' deficit ( 80)

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sandy Acres Coastal Estate (Holdings) Limited (registered number: 14490660) were approved and authorised for issue by the Board of Directors on 13 August 2024. They were signed on its behalf by:

Mr J D G Williams
Director
SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 November 2022 to 31 March 2024
SANDY ACRES COASTAL ESTATE (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 November 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Sandy Acres Coastal Estate (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sandbanks 22 Sandyacres Road, Loggans, Hayle,, Cornwall,, TR27 5BA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £80. The Company is supported through loans from the Subsidiary Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Subsidiary Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
17.11.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Fixed asset investments

Investments in subsidiaries

31.03.2024
£
Cost
At 17 November 2022 0
Additions 998,715
At 31 March 2024 998,715
Carrying value at 31 March 2024 998,715

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.03.2024
Held
Sandy Acres Coastal Estate Limited Sandbank, 22 Sandyacres Road, Loggans, Hayle, Cornwall, TR27, 5BA Operation of holiday lodge accommodation, campsite accommodation, beach car park and café. Ordinary 100.00% Direct

4. Creditors: amounts falling due within one year

31.03.2024
£
Other creditors 998,795

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

5. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
400 Ordinary shares of £ 1.00 each 400