Registered number
10951403
SANDBAY CONSTRUCTION LIMITED
Filleted Accounts
31 May 2024
SANDBAY CONSTRUCTION LIMITED
Registered number: 10951403
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 77,055 81,975
Current assets
Debtors 4 1,021,493 838,248
Cash at bank and in hand 60,096 81,627
1,081,589 919,875
Creditors: amounts falling due within one year 5 (924,794) (731,947)
Net current assets 156,795 187,928
Total assets less current liabilities 233,850 269,903
Creditors: amounts falling due after more than one year 6 - (20,458)
Net assets 233,850 249,445
Capital and reserves
Called up share capital 100 100
Profit and loss account 233,750 249,345
Shareholders' funds 233,850 249,445
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.
J Ellis
Director
Approved by the board on 25 February 2025
SANDBAY CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 May 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 109,050 - 109,050
Additions - 29,540 29,540
At 31 May 2024 109,050 29,540 138,590
Depreciation
At 1 June 2023 27,075 - 27,075
Charge for the year 27,075 7,385 34,460
At 31 May 2024 54,150 7,385 61,535
Net book value
At 31 May 2024 54,900 22,155 77,055
At 31 May 2023 81,975 - 81,975
Included within the net book value of £77,055 is £54,900 (2023: £81,975) relating to assets held under hire purchase agreements.
4 Debtors 2024 2023
£ £
Trade debtors 45,423 768,571
Amounts owed by group undertakings and undertakings in which the company has a participating interest 841,496 -
Other debtors 134,574 69,677
1,021,493 838,248
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 20,458 23,883
Trade creditors 698,988 297,510
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 256,126
Corporation tax 46,561 34,534
Other taxes and social security costs 11,260 4,701
Other creditors and accruals 147,527 115,193
924,794 731,947
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 20,458
7 Related party transactions 2024 2023
£ £
Sales of contruction services to Sandbay Limited (Parent Company) 48,193 1,384,120
Sales of contruction services to IDA Homes Ltd (Group undertaking) 7,176,153 2,840,755
Purchases and charges - -
Any amount due to or from this companies are disclosed in Debtors and Creditors.
8 Controlling party
The company's ultimate holding company is Sandbay Limited, incorporated in England.
9 Other information
SANDBAY CONSTRUCTION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Foxhill Farm
Jackass Lane
Keston
Kent
BR2 6AN
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