Registration number:
W.R. Sandow Limited
for the Year Ended 31 December 2023
W.R. Sandow Limited
Contents
Company Information |
|
Directors' Report |
|
Accountants' Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Unaudited Financial Statements |
|
iXBRL Detailed Profit and Loss Account |
W.R. Sandow Limited
Company Information
Directors |
Mr A P Sandow Mr R P Sandow |
Company secretary |
Mr R P Sandow |
Registered office |
|
Accountants |
|
W.R. Sandow Limited
Directors' Report for the Year Ended 31 December 2023
The directors present their report and the financial statements for the year ended 31 December 2023.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is agricultural and sports ground contractors.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
W.R. Sandow Limited
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of W.R. Sandow Limited for the year ended 31 December 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of W.R. Sandow Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of W.R. Sandow Limited and state those matters that we have agreed to state to the Board of Directors of W.R. Sandow Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W.R. Sandow Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that W.R. Sandow Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of W.R. Sandow Limited. You consider that W.R. Sandow Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of W.R. Sandow Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Accountants
Penzance
Cornwall
TR18 2QP
W.R. Sandow Limited
Profit and Loss Account for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating loss |
(15,541) |
(70,789) |
|
Interest payable and similar expenses |
( |
( |
|
Loss before tax |
( |
( |
|
Tax on loss |
|
|
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
W.R. Sandow Limited
Statement of Comprehensive Income for the Year Ended 31 December 2023
2023 |
2022 |
|
Loss for the year |
( |
( |
Total comprehensive income for the year |
( |
( |
W.R. Sandow Limited
(Registration number: 00786636)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
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 |
600 |
600 |
|
Revaluation reserve |
98,068 |
98,068 |
|
Retained earnings |
62,138 |
80,710 |
|
Shareholders' funds |
160,806 |
179,378 |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
W.R. Sandow Limited
Statement of Changes in Equity for the Year Ended 31 December 2023
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
At 1 January 2023 |
|
|
|
|
Loss for the year |
- |
- |
( |
( |
At 31 December 2023 |
|
|
|
|
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
At 1 January 2022 |
|
|
|
|
Loss for the year |
- |
- |
( |
( |
At 31 December 2022 |
600 |
98,068 |
80,710 |
179,378 |
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
10% reducing balance |
Motor vehicles |
12.5% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Depreciation expense |
|
|
Tangible assets |
Land and buildings |
Motor vehicles |
Other tangible assets |
Total |
|
Cost or valuation |
||||
At 1 January 2023 |
|
|
|
|
Additions |
- |
|
- |
|
Disposals |
- |
( |
- |
( |
At 31 December 2023 |
|
|
|
|
Depreciation |
||||
At 1 January 2023 |
|
|
|
|
Charge for the year |
- |
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
At 31 December 2023 |
|
|
|
|
Carrying amount |
||||
At 31 December 2023 |
|
|
|
|
At 31 December 2022 |
|
|
|
|
Included within the net book value of land and buildings above is £165,451 (2022 - £165,451) in respect of freehold land and buildings.
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Stocks |
2023 |
2022 |
|
Work in progress |
|
|
Other inventories |
|
|
|
|
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
|
- |
|
|
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
600 |
|
600 |
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Loans and borrowings |
2023 |
2022 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Hire purchase contracts |
|
|
Other borrowings |
|
|
|
|
2023 |
2022 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Bank overdrafts |
|
|
Hire purchase contracts |
|
|
|
|
Related party transactions |
Transactions with directors |
2023 |
At 1 January 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
Mr R P Sandow |
||||
Loan from Director |
|
( |
|
|
Mr A P Sandow |
||||
Loan from Director |
|
( |
|
|
2022 |
At 1 January 2022 |
Advances to director |
Repayments by director |
At 31 December 2022 |
Mr R P Sandow |
||||
Loan from Director |
|
( |
- |
|
Mr A P Sandow |
||||
Loan from Director |
|
( |
|
|
W.R. Sandow Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Directors' remuneration
The directors' remuneration for the year was as follows:
2023 |
2022 |
|
Remuneration |
|
|
W.R. Sandow Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
|
Turnover/revenue |
|
|
Cost of sales |
||
Opening raw materials |
( |
( |
Purchase of raw materials and consumables |
( |
( |
Closing raw materials |
|
|
Vehicle costs |
( |
( |
Gross profit |
160,875 |
98,602 |
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Advertising, promotions and marketing costs |
( |
( |
Rent, rates and services costs |
( |
( |
Utilities costs |
( |
( |
Other repairs and maintenance costs |
( |
( |
Depreciation of Fixed assets |
( |
( |
Wages and salaries excluding directors |
( |
( |
Other staff costs excluding directors |
( |
( |
Staff costs excluding directors |
( |
( |
Salaries and fees, directors |
( |
( |
Travel and subsistence |
( |
( |
Training |
( |
( |
Legal and professional costs |
- |
( |
Bad debts and impairment losses |
|
- |
Bank charges |
( |
( |
Insurance costs |
( |
( |
IT and computing |
( |
( |
Telecommunications |
( |
( |
Printing, postage and stationery |
( |
( |
Subscriptions |
( |
( |
Other costs |
( |
- |
Other operating income |
||
Other operating income |
|
|
Other items |
||
Gain from disposal of Fixed assets |
|
- |
Loss on ordinary activities before finance charges and interest |
(15,541) |
(70,789) |
W.R. Sandow Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023
2023 |
2022 |
|
Interest expense on bank overdraft, bank loans and similar borrowings |
( |
( |
Interest expense on obligations under finance leases and hire purchase contracts |
( |
( |
Loss on ordinary activities before taxation |
( |
( |
Tax on profit or loss on ordinary activities |
|
|
Loss for the financial year |
( |
( |