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REGISTERED NUMBER: 02758887 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Sands Leisure (Portland) Limited

Sands Leisure (Portland) Limited (Registered number: 02758887)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sands Leisure (Portland) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P Wogman
T Wogman
J Wogman





REGISTERED OFFICE: 65a Watford Way
London
NW4 3AQ





REGISTERED NUMBER: 02758887 (England and Wales)





ACCOUNTANTS: Cameron Baum Davis LLP
88 Crawford Street
London
W1H 2EJ

Sands Leisure (Portland) Limited (Registered number: 02758887)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,976,315 4,049,409
Investments 5 300,000 300,000
4,276,315 4,349,409

CURRENT ASSETS
Stocks 17,129 14,913
Debtors 6 914,425 715,869
Investments 7 20,000 20,000
951,554 750,782
CREDITORS
Amounts falling due within one year 8 (484,177 ) (253,974 )
NET CURRENT ASSETS 467,377 496,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,743,692

4,846,217

CREDITORS
Amounts falling due after more than one
year

9

(1,552,885

)

(1,641,401

)
NET ASSETS 3,190,807 3,204,816

CAPITAL AND RESERVES
Called up share capital 901 901
Share premium 309 309
Revaluation reserve 11 3,276,773 3,276,773
Retained earnings (87,176 ) (73,167 )
SHAREHOLDERS' FUNDS 3,190,807 3,204,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sands Leisure (Portland) Limited (Registered number: 02758887)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





P Wogman - Director


Sands Leisure (Portland) Limited (Registered number: 02758887)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Sands Leisure (Portland) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net income from room rentals and sale of foods and beverages. The turnover is recognised when invoices are raised or a right to consideration is obtained. All income is net of value added tax.

Tangible fixed assets
Freehold buildings2% straight line
Hotel improvements15% reducing balance
Plant and machinery25% reducing balance
Fixtures, fittings and equipment15% reducing balance
Motor vehicles25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Unlisted investments value
The directors value the unlisted investment on the basis of financial results and net assets of the company in which investment is made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 43 ) .

Sands Leisure (Portland) Limited (Registered number: 02758887)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 November 2022
and 31 October 2023 4,756,329 1,722,857 6,479,186
DEPRECIATION
At 1 November 2022 886,351 1,543,426 2,429,777
Charge for year 21,591 51,503 73,094
At 31 October 2023 907,942 1,594,929 2,502,871
NET BOOK VALUE
At 31 October 2023 3,848,387 127,928 3,976,315
At 31 October 2022 3,869,978 179,431 4,049,409

The directors consider that the market value is no lower than the balance sheet valuation.

Cost or valuation at 31 October 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1998 2,076,373 - 2,076,373
Valuation in 2011 1,202,400 - 1,202,400
Valuation in 2018 300,000 - 300,000
Valuation in 2022 400,000 - 400,000
Cost 777,556 1,722,857 2,500,413
4,756,329 1,722,857 6,479,186

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 3,000,000
PROVISIONS
At 1 November 2022
and 31 October 2023 2,700,000
NET BOOK VALUE
At 31 October 2023 300,000
At 31 October 2022 300,000

The above investment consists of £3,000,000 preference shares in The Darjan Estate Company Limited.

These shares do not carry a fixed coupon and are redeemable upon resolution by The Darjan Estate Company Limited. The directors have a material interest in The Darjan Estate Company Limited.

The directors confirm that the market value of investments at the year-end is not different from the net book value.

Sands Leisure (Portland) Limited (Registered number: 02758887)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 2,428 5,883
Other debtors 911,997 709,986
914,425 715,869

7. CURRENT ASSET INVESTMENTS
31.10.23 31.10.22
£    £   
Other investments 20,000 20,000

The above investments represent a classic car (Jaguar), which is awaiting sale. The directors believe that the above amount represents the true value of the car.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 188,124 87,765
Trade creditors 69,279 43,133
Taxation and social security 190,655 47,914
Other creditors 36,119 75,162
484,177 253,974

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,552,885 1,641,401

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdrafts 188,124 87,765
Bank loans 1,552,885 1,641,401
1,741,009 1,729,166

The bank loans and overdrafts are secured by way of a legal charge and debenture over the freehold property of the company.

11. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 3,276,773

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the family interests of P Wogman.