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REGISTERED NUMBER: 08859242 (England and Wales)











Sandstone Property Management Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2024






Sandstone Property Management Ltd (Registered number: 08859242)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sandstone Property Management Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: C J Gates





REGISTERED OFFICE: The Old Abattoir
High Street
Chipping Campden
Gloucestershire
GL55 6AT





REGISTERED NUMBER: 08859242 (England and Wales)





ACCOUNTANTS: Haines Watts Tamworth Limited
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Sandstone Property Management Ltd (Registered number: 08859242)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,559,405 1,481,818

CURRENT ASSETS
Stocks 4,958 9,916
Debtors 5 12,965 60,642
Cash at bank 118,614 111,244
136,537 181,802
CREDITORS
Amounts falling due within one year 6 1,784,786 1,727,660
NET CURRENT LIABILITIES (1,648,249 ) (1,545,858 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(88,844

)

(64,040

)

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (88,845 ) (64,041 )
SHAREHOLDERS' FUNDS (88,844 ) (64,040 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 12 September 2024 and were signed by:





C J Gates - Director


Sandstone Property Management Ltd (Registered number: 08859242)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Sandstone Property Management Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue arises from operating leases on properties owned and on properties sublet by the company and is accounted for on a straight line basis over the period of the lease and ending on the end date of the lease.

Leasehold improvements
Short leasehold improvements are amortised over the shorter of the estimated useful life and the period of the the lease term.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

Sandstone Property Management Ltd (Registered number: 08859242)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,481,818
Additions 77,587
At 31 January 2024 1,559,405
NET BOOK VALUE
At 31 January 2024 1,559,405
At 31 January 2023 1,481,818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,666 11,588
Other debtors 10,299 49,054
12,965 60,642

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,706 574
Amounts owed to group undertakings - 1,710,000
Taxation and social security 254 -
Other creditors 1,779,826 17,086
1,784,786 1,727,660

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Share capital 1 £1 1 1

8. RELATED PARTY DISCLOSURES

At the balance sheet date, C J Gates, a shareholder and director of the company was owed £1,763,431 (2022 - owed by C J Gates: £46,569).

9. ULTIMATE CONTROLLING PARTY

At the year end C J Gates is the controlling party by virtue of his majority shareholding..