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REGISTERED NUMBER: 09860834












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SANDY INVESTMENT PROPERTIES LIMITED

SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SANDY INVESTMENT PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: A Milne
Mrs S J Milne





REGISTERED OFFICE: Seven Stars House
1 Wheler Road
Coventry
West Midlands
CV3 4LB





REGISTERED NUMBER: 09860834






SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 10,110 10,110
Investment property 5 3,561,438 3,561,438
3,571,548 3,571,548

CURRENT ASSETS
Stocks and work in progress 1,978 1,978
Debtors 787,635 857,464
Cash at bank 24,239 70,064
813,852 929,506
CREDITORS
Amounts falling due within one year 903,324 879,710
NET CURRENT (LIABILITIES)/ASSETS (89,472 ) 49,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,482,076

3,621,344

CREDITORS
Amounts falling due after more than one
year

6

(2,581,881

)

(2,666,290

)

PROVISIONS FOR LIABILITIES (176,802 ) (176,598 )
NET ASSETS 723,393 778,456

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 539,989 539,989
Retained earnings 183,304 238,367
SHAREHOLDERS' FUNDS 723,393 778,456

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)

ABRIDGED BALANCE SHEET - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 June 2024 and were signed on its behalf by:





A Milne - Director


SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Sandy Investment Properties 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 place of business address is Units 10/11 Mere Farm Business Complex, Red House Lane, Hannington, Northamptonshire, NN6 9FP.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Work in progress
The amount of profit attributable to the stage of completion of long term projects is arrived at by reference to the estimated overall profitability of the project. Appropriate provisions are made for any losses in the year in which they are first foreseen. Work in progress relating to long term projects is stated at cost less provision for anticipated losses.

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.


SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 10,110
NET BOOK VALUE
At 31 December 2023 10,110
At 31 December 2022 10,110

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 3,561,438
NET BOOK VALUE
At 31 December 2023 3,561,438
At 31 December 2022 3,561,438

The directors have determined the fair value of the investment property based on prices for similar properties available in the local market.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 395,763
Valuation in 2018 74,222
Valuation in 2021 250,000
Cost 2,841,453
3,561,438

SANDY INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 09860834)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,357,414 1,453,883

Repayable by instalments
Bank loans - more than 5 years 44,200 42,860

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,843,614 1,925,343

The company's bank has a fixed and floating charge over all property of the company.

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 539,989

9. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.