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Registration number: 12450778

Sandford Property Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Sandford Property Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Sandford Property Holdings Limited

Company Information

Directors

Mr Philip George Sandford

Mrs Sarah Elizabeth Sandford

Company secretary

Mrs Sarah Elizabeth Sandford

Registered office

Unit 2, Elms Yard
Stevenage Road
Little Wymondley
Hitchin
SG4 7HY

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Sandford Property Holdings Limited

(Registration number: 12450778)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

54

100

Investment property

6

380,000

-

 

380,054

100

Current assets

 

Stocks

7

1,400

481,464

Debtors

8

59,214

15,178

Cash at bank and in hand

 

25,340

4,375

 

85,954

501,017

Creditors: Amounts falling due within one year

9

(14,433)

(193,980)

Net current assets

 

71,521

307,037

Total assets less current liabilities

 

451,575

307,137

Creditors: Amounts falling due after more than one year

9

(168,779)

(192,352)

Provisions for liabilities

(22,494)

-

Net assets

 

260,302

114,785

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

95,897

-

Retained earnings

163,405

113,785

Shareholders' funds

 

260,302

114,785

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 2 August 2024 and signed on its behalf by:
 

 

Sandford Property Holdings Limited

(Registration number: 12450778)
Balance Sheet as at 31 January 2024 (continued)

.........................................
Mrs Sarah Elizabeth Sandford
Company secretary and director

 

Sandford Property Holdings Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2, Elms Yard
Stevenage Road
Little Wymondley
Hitchin
SG4 7HY

These financial statements were authorised for issue by the Board on 2 August 2024.

2

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Sandford Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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

25 % Straight Line Method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Sandford Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

59

50

 

Sandford Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

200

200

Additions

13

13

At 31 January 2024

213

213

Depreciation

At 1 February 2023

100

100

Charge for the year

59

59

At 31 January 2024

159

159

Carrying amount

At 31 January 2024

54

54

At 31 January 2023

100

100

6

Investment properties

2024
£

Additions

261,608

Fair value adjustments

118,392

At 31 January

380,000

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

1,400

481,464

8

Debtors

Current

2024
£

2023
£

Prepayments

4,864

5,492

Other debtors

54,350

9,686

 

59,214

15,178

 

Sandford Property Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

243

3,620

Taxation and social security

12,928

34,847

Accruals and deferred income

1,261

1,984

Other creditors

1

153,529

14,433

193,980

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

168,765

191,869

Other non-current financial liabilities

 

14

483

 

168,779

192,352

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

95,897

95,897

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

168,765

191,869