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REGISTERED NUMBER: 01691631 (England and Wales)











SANDBURN YORK LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 8

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14 to 22


SANDBURN YORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr J Hogg
Mrs H A Abdelsattar
Mr S Buckley
Mr D P Holmes



SECRETARY: Mr J Hogg



REGISTERED OFFICE: Sandburn Hall
Flaxton
York
North Yorkshire
YO60 7RB



REGISTERED NUMBER: 01691631 (England and Wales)



AUDITORS: UHY Calvert Smith LLP
Statutory Auditor
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW



BANKERS: Lloyds TSB Bank plc
2 Pavement
York
YO1 2XA

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024


The directors present their strategic report for the year ended 31 January 2024.

REVIEW OF BUSINESS
Sandburn York Limited continued to provide a range of holiday, leisure and hospitality facilities from the Sandburn Hall Estate through the year under review. The principal activities of the company are the Griffon Forest holiday lodges, leisure and hospitality facilities at Sandburn Hall (including the golf course, Tykes restaurant, and wedding / event hosting), and the Sandburn Hall Hotel.

The directors are satisfied that the company has produced a robust financial result for the year against the backdrop of high inflation, interest rate increases, rising supplier prices and a cost-of-living crisis.

Total turnover increased by 4.8% to £7.4m, the main contributors being an increase in hotel accommodation sales and income generated through weddings & events.

Increases in supplier costs and staff wages put significant pressure on margins during the year, and the company continued to invest heavily in the ongoing maintenance and refurbishment of its facilities. Profit before taxation has however been maintained at £1.1m (2023: £1.1m).

Cash reserves fell by £310.6k during the year following capital expenditure of £1.1m and parent company loan repayments of £670K.

PRINCIPAL RISK AND UNCERTAINTIES
Trading conditions remain challenging, although it is hoped that the economic outlook will improve as the year goes on with the forecast fall in inflation and fall in interest rates.

The market sector is also highly competitive and requires a continued focus on quality services and value.

FUTURE PLANS
The company has plans to install solar panels during the year and refurbish the restaurant and main kitchen and continue with its programme of holiday lodge refurbishment.

FINANCIAL INSTRUMENTS
The company's financial risk management objectives are to ensure sufficient working capital is retained in the business, to allow continued reinvestment to maintain and enhance the company's facilities and to provide a reasonable return for the business. The company is supported in this by a loan from its parent company to fund major capital expenditure.

Cash flow is carefully managed by the company, with cash placed on short term deposit where appropriate.

ON BEHALF OF THE BOARD:





Mr J Hogg - Director


16 August 2024

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


The directors present their report with the financial statements of the company for the year ended 31 January 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 January 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

Mr J Hogg
Mrs H A Abdelsattar
Mr S Buckley

Other changes in directors holding office are as follows:

Mr D P Holmes - appointed 6 April 2023

DISCLOSURE IN THE STRATEGIC REPORT
The business review, future developments and discussion of financial risk management has been included in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


AUDITORS
The auditors, UHY Calvert Smith LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J Hogg - Director


16 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDBURN YORK LIMITED


Opinion
We have audited the financial statements of Sandburn York Limited (the 'company') for the year ended 31 January 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDBURN YORK LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDBURN YORK LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and from our commercial knowledge and experience of the sector; and
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation, employment, and health and safety legislation.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims, and incidences of non-compliance; and
- reviewing legal and professional expenditure and appropriate documentation.

There are inherent limitations in the audit procedures described above; any instance of non-compliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through an act of collusion that would mitigate internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDBURN YORK LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Hayden Priest BEng BFP FCA (Senior Statutory Auditor)
for and on behalf of UHY Calvert Smith LLP
Statutory Auditor
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW

23 August 2024

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 3 7,355,980 7,020,135

Cost of sales 5,453,955 5,046,116
GROSS PROFIT 1,902,025 1,974,019

Administrative expenses 1,100,069 1,003,018
801,956 971,001

Other operating income 208,271 134,498
OPERATING PROFIT 6 1,010,227 1,105,499

Interest receivable and similar income 7 79,105 7,710
PROFIT BEFORE TAXATION 1,089,332 1,113,209

Tax on profit 8 287,988 230,463
PROFIT FOR THE FINANCIAL YEAR 801,344 882,746

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

801,344

882,746

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 15,076,156 14,085,337
Investment property 10 1,542,041 1,098,876
16,618,197 15,184,213

CURRENT ASSETS
Stocks 11 51,804 44,824
Debtors 12 119,582 178,666
Cash at bank and in hand 3,108,461 3,419,154
3,279,847 3,642,644
CREDITORS
Amounts falling due within one year 13 3,008,829 2,174,393
NET CURRENT ASSETS 271,018 1,468,251
TOTAL ASSETS LESS CURRENT LIABILITIES 16,889,215 16,652,464

CREDITORS
Amounts falling due after more than one
year

14

(4,753,000

)

(5,423,000

)

PROVISIONS FOR LIABILITIES 16 (989,853 ) (884,446 )
NET ASSETS 11,146,362 10,345,018

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings - non distributable 18 49,249 49,249
Retained earnings 18 11,097,013 10,295,669
SHAREHOLDERS' FUNDS 11,146,362 10,345,018

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Mr J Hogg - Director


SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Retained
Called up earnings
share Retained - non Total
capital earnings distributable equity
£    £    £    £   
Balance at 1 February 2022 100 9,412,923 49,249 9,462,272

Changes in equity
Total comprehensive income - 882,746 - 882,746
Balance at 31 January 2023 100 10,295,669 49,249 10,345,018

Changes in equity
Total comprehensive income - 801,344 - 801,344
Balance at 31 January 2024 100 11,097,013 49,249 11,146,362

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,711,964 1,653,213
Tax paid (367,997 ) (49,402 )
Net cash from operating activities 1,343,967 1,603,811

Cash flows from investing activities
Purchase of tangible fixed assets (1,050,409 ) (440,373 )
Purchase of investment property (13,065 ) -
Sale of tangible fixed assets 2,750 750
Interest received 76,064 -
Net cash from investing activities (984,660 ) (439,623 )

Cash flows from financing activities
Group loan repayment (670,000 ) (488,000 )
Net cash from financing activities (670,000 ) (488,000 )

(Decrease)/increase in cash and cash equivalents (310,693 ) 676,188
Cash and cash equivalents at beginning of
year

2

3,419,154

2,742,966

Cash and cash equivalents at end of year 2 3,108,461 3,419,154

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 1,089,332 1,113,209
Depreciation charges 578,391 558,686
Loss/(profit) on disposal of fixed assets 11,449 (308 )
Finance income (79,105 ) (7,710 )
1,600,067 1,663,877
Increase in stocks (6,980 ) (5,827 )
Decrease in trade and other debtors 62,125 26,838
Increase/(decrease) in trade and other creditors 56,752 (31,675 )
Cash generated from operations 1,711,964 1,653,213

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 3,108,461 3,419,154
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 3,419,154 2,742,966


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 3,419,154 (310,693 ) 3,108,461
3,419,154 (310,693 ) 3,108,461
Total 3,419,154 (310,693 ) 3,108,461

4. MAJOR NON-CASH TRANSACTIONS

Property of £963,100 has been acquired during the year from a company under common control. The consideration for the purchase was unpaid at the balance sheet date and is included in creditors falling due within one year.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Sandburn York 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.

The company's principal place of business is Sandburn Hall, Flaxton, York, YO60 7RB.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors have considered the financial position and trading projections of the company, and have a reasonable expectation that the company has adequate resources to continue to trade into the foreseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover represents amounts receivable for good and services supplied by the company to its customers in the course of its principal activities, after the deduction of trade discounts and value added tax.

Turnover is recognised when the goods or services have been supplied to the customer. Deposits and other amounts received in advance are deferred, and included in creditors, until the stay, event or other service has been supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% - 2% on cost
Assets under construction - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% straight line, 10% straight line, 5% straight line and between 10% and 33.33% on net book value
Motor vehicles - 25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Freehold property primarily relates to the properties and development of the Sandburn Hall Estate as carried out by the company; the underlying land is however under the ownership of the parent company.

Investment property
Investment property is held by the company to earn rentals or for capital appreciation, rather than for use in the business or as part of the company's trading activities.

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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

The company uses the most recent purchase price as the basis for arriving at cost for most stock types, as the result is considered to approximate actual cost.

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

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.

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.

Financial instruments
The company is supported by way of a loan from its parent company.

Under its terms, this loan is interest free, unsecured and repayable on demand within one year and one day. These terms are set on a rolling annual basis.

The loan is recognised as a creditor falling due after more than 1 year, and recorded at transaction price; being the balance of funds received and repaid at the balance sheet date. Amortised cost, using the effective interest rate method, is not considered to be appropriate given the terms of the loan.

Cash at bank includes amounts held on demand in current account, and on short term fixed deposit.

Operating leases
Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make significant judgements and estimates. The key items in the financial statements where these judgements and estimates have been made include:

Depreciation and residual values
The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and concluded that the company's depreciation policies are appropriate.

Valuation of investment property
Investment properties are included in the financial statements at an estimate of fair value, as determined by the directors. This valuation is informed by the use of professional experts and industry knowledge within the company, and is based upon rental yield and general market conditions.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Holiday lodges 2,304,058 2,309,385
Golf and leisure activities 3,600,308 3,411,248
Hotel 1,451,614 1,299,502
7,355,980 7,020,135

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,483,494 2,179,025
Social security costs 183,135 173,310
Other pension costs 96,051 80,216
2,762,680 2,432,551

The average number of employees during the year was as follows:
2024 2023

Admin and management 15 14
Services 125 105
140 119

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration 194,595 148,438
Directors' pension contributions to money purchase schemes 58,401 47,229

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 3

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Operating lease income (89,044 ) (95,131 )
Depreciation - owned assets 578,391 558,686
Loss/(profit) on disposal of fixed assets 11,449 (308 )
Operating lease expenditure 32,898 22,916
Auditor's remuneration 7,900 7,400

7. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 79,105 7,710

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 182,581 217,997
Tax under / (over) provision
from earlier year - (10,586 )
Total current tax 182,581 207,411

Deferred tax 105,407 23,052
Tax on profit 287,988 230,463

UK corporation tax has been charged at 24.03% .

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,089,332 1,113,209
Profit multiplied by the standard rate of corporation tax in the UK of
24.030% (2023 - 19%)

261,766

211,510

Effects of:
Income not taxable for tax purposes (5,851 ) -
Depreciation of non-qualifying assets 30,987 24,051
Capital allowance super deduction (1,122 ) (11,067 )
Capital allowance timing differences and other adjustments (531 ) (631 )
Impact of change in rate applied for measurement of deferred tax 2,739 6,600
Total tax charge 287,988 230,463

9. TANGIBLE FIXED ASSETS
Assets
Freehold under Plant and
property construction machinery
£    £    £   
COST
At 1 February 2023 15,104,001 161,485 971,055
Additions 952,445 87,635 98,400
Disposals - - (35,295 )
Reclassification/transfer 153,201 (153,201 ) -
At 31 January 2024 16,209,647 95,919 1,034,160
DEPRECIATION
At 1 February 2023 2,416,941 - 713,686
Charge for year 295,384 - 78,489
Eliminated on disposal - - (33,584 )
At 31 January 2024 2,712,325 - 758,591
NET BOOK VALUE
At 31 January 2024 13,497,322 95,919 275,569
At 31 January 2023 12,687,060 161,485 257,369

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023 3,179,558 23,790 19,439,889
Additions 444,929 - 1,583,409
Disposals (48,221 ) - (83,516 )
Reclassification/transfer - - -
At 31 January 2024 3,576,266 23,790 20,939,782
DEPRECIATION
At 1 February 2023 2,205,686 18,239 5,354,552
Charge for year 203,130 1,388 578,391
Eliminated on disposal (35,733 ) - (69,317 )
At 31 January 2024 2,373,083 19,627 5,863,626
NET BOOK VALUE
At 31 January 2024 1,203,183 4,163 15,076,156
At 31 January 2023 973,872 5,551 14,085,337

Included in cost of land and buildings is freehold land of £ 549,190 (2023 - £ 0 ) which is not depreciated.

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,098,876
Additions 443,165
At 31 January 2024 1,542,041
NET BOOK VALUE
At 31 January 2024 1,542,041
At 31 January 2023 1,098,876

The investment properties are included at the directors' assessment of fair value at the balance sheet date. A valuation by an independently qualified professional valuer has not been obtained.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2014 (57,000 )
Valuation in 2019 49,249
Cost 1,549,792
1,542,041

11. STOCKS
2024 2023
£    £   
Stocks 51,804 44,824

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,563 4,291
Prepayments 107,019 174,375
119,582 178,666

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 457,424 443,878
Tax 32,581 217,997
Social security and other taxes 37,311 34,566
VAT 153,695 192,298
Other creditors 9,522 18,121
Amounts owed to related undertaking 963,100 -
Accruals and deferred income 1,355,196 1,267,533
3,008,829 2,174,393

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 4,753,000 5,423,000

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 25,105 22,916
Between one and five years 9,981 17,120
35,086 40,036

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 989,853 888,895
Other timing differences - (4,449 )
989,853 884,446

Deferred
tax
£   
Balance at 1 February 2023 884,446
Charge to Statement of Comprehensive Income during year 105,407
Balance at 31 January 2024 989,853

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

18. RESERVES
Retained
earnings
Retained - non
earnings distributable Totals
£    £    £   

At 1 February 2023 10,295,669 49,249 10,344,918
Profit for the year 801,344 - 801,344
At 31 January 2024 11,097,013 49,249 11,146,262

The non-distributable retained earnings reserve relates to fair value adjustments recognised through profit and loss in respect of the company's investment properties.

SANDBURN YORK LIMITED (REGISTERED NUMBER: 01691631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


19. ULTIMATE PARENT COMPANY

The ultimate holding company throughout this and the prior year is Cromwell Holdings Limited, registered in Guernsey, company number 35488.

20. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 48,250 281,250

21. RELATED PARTY DISCLOSURES

Cromwell Holdings Limited
The ultimate holding company.

Included in creditors falling due after more than one year is a loan due to Cromwell Holdings Limited of £4,753,000 (2023: £5,423,000). No interest has been charged on the loan.

The company occupies land owned by Cromwell Holdings Limited under a deed of assignment. No amount is payable in connection with this occupancy.


Other companies under common control
The company has acquired property from a company under common control in the year, at its market value of £963,100. The consideration for the purchase was unpaid at the balance sheet date, and is included within creditors falling due within one year.


Key management personnel
The directors are considered to represent the key management personnel of the company. Details of their remuneration are shown in note 5.

22. OPERATING LEASE INCOME

The company receives rental income from its investment properties.

Minimum lease receipts under non-cancellable operating leases fall due as follows:

2024 2023
£    £   
Within one year 36,000 36,000
Between one and five years 18,000 54,000
54,000 90,000