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REGISTERED NUMBER: 09055705 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SANDS REALTY LIMITED

SANDS REALTY LIMITED (REGISTERED NUMBER: 09055705)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SANDS REALTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: J D Billig
J D Fawcett





REGISTERED OFFICE: 10 London Mews
LONDON
W2 1HY





REGISTERED NUMBER: 09055705 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

SANDS REALTY LIMITED (REGISTERED NUMBER: 09055705)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £   
CURRENT ASSETS
Stocks - 114,708
Debtors 4 510,398 511,766
Investments 5 2 2
Cash at bank 1,386 18,024
511,786 644,500
CREDITORS
Amounts falling due within one year 6 579,290 929,933
NET CURRENT LIABILITIES (67,504 ) (285,433 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,504

)

(285,433

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (67,604 ) (285,533 )
SHAREHOLDERS' FUNDS (67,504 ) (285,433 )

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

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

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 Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





J D Billig - Director


SANDS REALTY LIMITED (REGISTERED NUMBER: 09055705)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Sands Realty 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.

The accounts are prepared on a going concern basis. The directors believe this to be appropriate on the basis that they have received assurances from the creditors that they will not require the repayment of advances made by them to the company until the company has adequate funds to remain solvent.

Preparation of consolidated financial statements
The financial statements contain information about Sands Realty Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rents receivable and sale of property net of VAT.

Rendering of services

Income is recognised at the date of exchange.

Stocks
Stocks comprise the cost of acquiring development property and all associated costs.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above 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 payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

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.


SANDS REALTY LIMITED (REGISTERED NUMBER: 09055705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 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.

Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 510,398 511,766

The company's loan to a third party is secured by way of a first legal charge on the property held by the third party.

5. CURRENT ASSET INVESTMENTS
31.5.24 31.5.23
£    £   
Unlisted investments 2 2

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 17,202
Other creditors 579,290 912,731
579,290 929,933

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

SANDS REALTY LIMITED (REGISTERED NUMBER: 09055705)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owes £132,117 (2023 - £131,970) to Thameway Ltd, £34,000 (2023 - £34,000) to James Laurence Ltd. £3,638 (2023 - £5,000) to JNR Properties LLP and £12,000 (2023 - £12,000) to JIN Properties LLP. The director Mr J Fawcett has an interest in these entities.

At the balance sheet date the company owes £230,000 (2023 - £410,000) to Sands Finance Ltd. This loan is interest free. The director J Billig is a director of Sands Finance Ltd.

At the balance sheet date the company owes £97,761 (2023 - £249,761) to the director J Fawcett.This loan is interest free.

At the balance sheet date the company is owed £506,500 (2023 - £506,500) by Sands Finance Ltd. The director J Billig is a director of Sands Finance Ltd.