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Company No: 13203816 (England and Wales)

SABRECORE HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

SABRECORE HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

SABRECORE HOLDINGS LTD

BALANCE SHEET

As at 29 February 2024
SABRECORE HOLDINGS LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,659 8,397
Investment property 4 6,559,169 5,777,553
6,565,828 5,785,950
Current assets
Debtors 5 3,177,908 2,658,764
Cash at bank and in hand 5,268 82,399
3,183,176 2,741,163
Creditors: amounts falling due within one year 6 ( 1,398,415) ( 375,941)
Net current assets 1,784,761 2,365,222
Total assets less current liabilities 8,350,589 8,151,172
Creditors: amounts falling due after more than one year 7 ( 2,189,708) ( 1,958,708)
Net assets 6,160,881 6,192,464
Capital and reserves
Called-up share capital 6,015,999 6,015,999
Profit and loss account 144,882 176,465
Total shareholders' funds 6,160,881 6,192,464

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sabrecore Holdings Ltd (registered number: 13203816) were approved and authorised for issue by the Director on 28 November 2024. They were signed on its behalf by:

A V Easton
Director
SABRECORE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
SABRECORE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sabrecore Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 5, Grange Farm Business Park Sandy Lane, Shedfield, Southampton, SO32 2HD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 3

3. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 March 2023 4,560 160 4,323 9,043
Additions 0 1,020 1,322 2,342
At 29 February 2024 4,560 1,180 5,645 11,385
Accumulated depreciation
At 01 March 2023 0 10 636 646
Charge for the financial year 2,280 146 1,654 4,080
At 29 February 2024 2,280 156 2,290 4,726
Net book value
At 29 February 2024 2,280 1,024 3,355 6,659
At 28 February 2023 4,560 150 3,687 8,397

4. Investment property

Investment property
£
Valuation
As at 01 March 2023 5,777,553
Additions 1,193,168
Disposals (411,552)
As at 29 February 2024 6,559,169

5. Debtors

2024 2023
£ £
Trade debtors 8,576 13,816
Amounts owed by related parties 2,952,632 2,585,023
Other debtors 216,700 59,925
3,177,908 2,658,764

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 300,000 105,500
Trade creditors 100,506 39,314
Amounts owed to related parties 0 46,796
Taxation and social security 38,997 35,405
Other creditors 958,912 148,926
1,398,415 375,941

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 2,189,708 1,958,708

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 12,000 12,000

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Balance owed by director 0 1,449