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REGISTERED NUMBER: SC151099 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SANDYHILLS DEVELOPMENTS (BANFF) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr G D Wilson
Mrs A L Wilson





SECRETARY: Mrs A L Wilson





REGISTERED OFFICE: Turtory
Bridge of Marnoch
Huntly
Aberdeenshire
AB54 7UJ





REGISTERED NUMBER: SC151099 (Scotland)





ACCOUNTANTS: Bain Henry Reid
51-53 High Street
Turriff
AB53 4EJ

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 746,335 686,795
Investments 5 500 500
746,835 687,295

CURRENT ASSETS
Debtors 6 1,222,682 1,430,558
Cash at bank 3,206,598 2,651,541
4,429,280 4,082,099
CREDITORS
Amounts falling due within one year 7 512,497 408,004
NET CURRENT ASSETS 3,916,783 3,674,095
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,663,618

4,361,390

PROVISIONS FOR LIABILITIES 171,307 153,068
NET ASSETS 4,492,311 4,208,322

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 4,491,311 4,207,322
SHAREHOLDERS' FUNDS 4,492,311 4,208,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 27 November 2024 and were signed on its behalf by:




Mr G D Wilson - Director



Mrs A L Wilson - Director


SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Sandyhills Developments (Banff) Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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.

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 ) .

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 1,290,618
Additions 174,500
At 29 February 2024 1,465,118
DEPRECIATION
At 1 March 2023 603,823
Charge for year 114,960
At 29 February 2024 718,783
NET BOOK VALUE
At 29 February 2024 746,335
At 28 February 2023 686,795

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 500
NET BOOK VALUE
At 29 February 2024 500
At 28 February 2023 500

Included in investments is a holding of 500 shares in Brooklea Developments which represents 50% of the issued share capital of that company. The net assets of that company per the accounts at 30 September 2023 were £2,370,999 (2022: £2,399,433).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 94,363 101,149
Ladysbridge Village Loan 950,000 -
GD Wilson Ltd loan 169,870 1,230,336
Prepayments and accrued income 8,449 99,073
1,222,682 1,430,558

SANDYHILLS DEVELOPMENTS (BANFF) LIMITED (REGISTERED NUMBER: SC151099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,066 2,640
Taxation 85,314 81,453
VAT 11,871 17,570
Directors' loan accounts 411,396 303,365
Accruals and deferred income 2,850 2,976
512,497 408,004

8. RESERVES
Retained
earnings
£   

At 1 March 2023 4,207,322
Profit for the year 391,989
Dividends (108,000 )
At 29 February 2024 4,491,311

9. DIRECTOR'S LOAN

The following advances and credits from directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr G D Wilson and Mrs A L Wilson
Balance outstanding at start of year 303,365 295,683
Amounts advanced 108,031 7,682
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 411,396 303,365

The loan is interest free and there are no fixed terms of repayment.

10. RELATED PARTY DISCLOSURES

The company has a loan to G D Wilson Limited. The balance due at the year ended amounted to £175,300 (2023 owed from the company £1,230,336).

The directors of the company are also directors and controlling shareholders of G D Wilson Limited.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors and and their children who own 100% of the company's issued share capital.