Registered number
08493596
Sand & Stone Developments Limited
Filleted Accounts
30 April 2024
Sand & Stone Developments Limited
Registered number: 08493596
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 3,928,621 3,427,746
Current assets
Debtors 4 124,600 103,315
Cash at bank and in hand 14,561 11,091
139,161 114,406
Creditors: amounts falling due within one year 5 (692,455) (518,688)
Net current liabilities (553,294) (404,282)
Total assets less current liabilities 3,375,327 3,023,464
Creditors: amounts falling due after more than one year 6 (2,847,045) (2,782,045)
Net assets 528,282 241,419
Capital and reserves
Called up share capital 100 100
Profit and loss account 528,182 241,319
Shareholders' funds 528,282 241,419
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Gurdip Grover
Director
Approved by the board on 30 January 2025
Sand & Stone Developments Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rent receivable on the investment property of the company.
Investment property
Investment properties are held to earn rental income and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on a ongoing basis are measured at a fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period in which they arise.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investment
property
£
Fair value
At 1 May 2023 3,427,746
Additions 1,308,146
Disposals (807,271)
At 30 April 2024 3,928,621
Historical cost
At 1 May 2023 3,275,613
At 30 April 2024 3,795,308
The investment properties are included at their fair valuation and the valuations were provided by the director.
4 Debtors 2024 2023
£ £
Trade debtors - 3,315
Other debtors 124,600 100,000
124,600 103,315
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 8
Trade creditors 86,150 -
Taxation and social security costs 116,288 20,667
Other creditors 50,054 50,910
Director's account 439,963 447,103
692,455 518,688
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 2,847,045 2,782,045
7 Related party transactions
Included in other debtors is the amount of £100,000 (2023:£10,000) due from Aryan Holdings Ltd, where Gurdip Grover is a director. There are no terms as to interest or repayment in respect of this amount.
8 Other information
Sand & Stone Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-b Draycott Avenue
Kenton Harrow
Middlesex
HA3 0BU
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