REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
SANDY DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
SANDY DEVELOPMENTS LIMITED |
SANDY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11881190) |
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 DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SANDY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11881190) |
ABRIDGED BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Work in progress |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 6 |
Retained earnings |
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 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11881190) |
ABRIDGED BALANCE SHEET - continued |
31 December 2023 |
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 |
SANDY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11881190) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Sandy Developments Limited is a |
The company's place of business is Units 10/11 Mere Farm Business Complex, Red House Lane, Hannington, Northamptonshire, NN6 9FP. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
Tangible fixed assets |
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. |
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. |
SANDY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11881190) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured by a fixed and floating charge on the company's assets. |
6. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
Property revaluation | (7,340 | ) |
Fair value disposal | 1,835 |
At 31 December 2023 |