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REGISTERED NUMBER: 07243832 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sandeman Jute Limited

Sandeman Jute Limited (Registered number: 07243832)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Sandeman Jute Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: S S Campbell
Ms C Garrett
J Garrett-Campbell





REGISTERED OFFICE: 22-28 Willow Street
Accrington
Lancashire
BB5 1LP





REGISTERED NUMBER: 07243832 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Sandeman Jute Limited (Registered number: 07243832)

Abridged Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,580 6,566

CURRENT ASSETS
Debtors - 54,993
Cash at bank 10,211 50,091
10,211 105,084
CREDITORS
Amounts falling due within one year 33,950 109,598
NET CURRENT LIABILITIES (23,739 ) (4,514 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,159

)

2,052

PROVISIONS FOR LIABILITIES 904 1,058
NET (LIABILITIES)/ASSETS (19,063 ) 994

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (19,163 ) 894
SHAREHOLDERS' FUNDS (19,063 ) 994

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Sandeman Jute Limited (Registered number: 07243832)

Abridged Balance Sheet - continued
31 March 2024


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 March 2024 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 19 September 2024 and were signed on its behalf by:





S S Campbell - Director


Sandeman Jute Limited (Registered number: 07243832)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Sandeman Jute 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company sells a range of industrial fabric products to other businesses. Sales of goods are recognised on delivery to the buyer, when the buyer has full discretion over the channel and price to sell the product and there is no unfulfilled obligation that could affect the businesses acceptance of the product. Delivery occurs when the goods have been shipped to the location specified by the business, the risks of obsolescence or loss have been transferred to the buyer, the business has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or the company has objective evidence that all criteria for acceptance have been satisfied. Goods sold to businesses are often sold with volume rebates and also with the provision for the customer to return faulty goods. Sales are measured at the prices specified in the sale contract, net of estimated volume rebates and returns. Volume rebates are assessed based on anticipated annual purchases. Accumulated experience is used to estimate and provide for the discounts and returns. Sales are normally made with a credit term of 60 days. The element of financing is deemed immaterial and is disregarded in the measurement of revenue.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


Sandeman Jute Limited (Registered number: 07243832)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 19,552
DEPRECIATION
At 1 April 2023 12,986
Charge for year 986
At 31 March 2024 13,972
NET BOOK VALUE
At 31 March 2024 5,580
At 31 March 2023 6,566

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100

Sandeman Jute Limited (Registered number: 07243832)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
S S Campbell
Balance outstanding at start of year 36,093 -
Amounts advanced 23,254 104,013
Amounts repaid (85,285 ) (67,920 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25,938 ) 36,093

Interest has been charged on the overdrawn directors loan account at the commercial rate of 2%.