Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30falsetrue2023-06-07Rental income from an investment company30truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14919865 2023-06-07 2024-06-30 14919865 2022-06-07 2023-06-06 14919865 2024-06-30 14919865 2023-06-06 14919865 c:Director1 2023-06-07 2024-06-30 14919865 c:Director2 2023-06-07 2024-06-30 14919865 c:Director3 2023-06-07 2024-06-30 14919865 c:RegisteredOffice 2023-06-07 2024-06-30 14919865 d:FreeholdInvestmentProperty 2023-06-07 2024-06-30 14919865 d:FreeholdInvestmentProperty 2024-06-30 14919865 d:FreeholdInvestmentProperty 2 2023-06-07 2024-06-30 14919865 d:CurrentFinancialInstruments 2024-06-30 14919865 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14919865 d:ShareCapital 2024-06-30 14919865 d:RetainedEarningsAccumulatedLosses 2024-06-30 14919865 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 14919865 c:OrdinaryShareClass1 2023-06-07 2024-06-30 14919865 c:OrdinaryShareClass1 2024-06-30 14919865 c:FRS102 2023-06-07 2024-06-30 14919865 c:AuditExempt-NoAccountantsReport 2023-06-07 2024-06-30 14919865 c:FullAccounts 2023-06-07 2024-06-30 14919865 c:PrivateLimitedCompanyLtd 2023-06-07 2024-06-30 14919865 2 2023-06-07 2024-06-30 14919865 f:PoundSterling 2023-06-07 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 14919865












SANDFORD LANE OXFORD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

 

SANDFORD LANE OXFORD LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 9


 

SANDFORD LANE OXFORD LIMITED
 
COMPANY INFORMATION


Directors
M Conlon 
P E Goldstein 
R M Hatter 




Registered number
14919865



Registered office
21 Chapel Street

London

England

SW1X 7BY




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:14919865
SANDFORD LANE OXFORD LIMITED

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
5,250,000

Current assets
  

Debtors: amounts falling due within one year
 5 
111,379

Cash at bank and in hand
  
40,665

  
152,044

Creditors: amounts falling due within one year
 6 
(4,038,323)

Net current liabilities
  
 
 
(3,886,279)

Provisions for liabilities
  

Deferred taxation
 7 
(319,137)

  
 
 
(319,137)

Net assets
  
1,044,584


Capital and reserves
  

Called up share capital 
 8 
90

Profit and loss account
  
1,044,494

Total equity
  
1,044,584


Page 2


 
REGISTERED NUMBER:14919865
SANDFORD LANE OXFORD LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P E Goldstein
Director

Date: 3 March 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Sandford Lane Oxford Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 21 Chapel Street, London, England, SW1X 7BY.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company was incorporated on 7 June 2023 and therefore these financial statements represent a period longer than a year.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
2.3

Rental income

Turnover comprises rental income, service charges and other recoveries from tenants of the company’s investment properties net of value added tax. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.5

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes 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. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, bank balances, 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 receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 5

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)




Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.7

Share capital

Ordinary shares are classified as equity.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees



The average monthly number of employees, including directors, during the period was 3.

Page 7

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
3,973,454


Surplus on revaluation
1,276,546



At 30 June 2024
5,250,000

The 2024 valuation was made by the property consultancy firm Allsop LLP on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
3,973,454


5.


Debtors

2024
£


Trade debtors
83,365

Other debtors
6,300

Prepayments and accrued income
21,714

111,379



6.


Creditors: amounts falling due within one year

2024
£

Trade creditors
2,868

Corporation tax
26,816

Other taxation and social security
3,567

Other creditors
3,905,087

Accruals and deferred income
99,985

4,038,323


Page 8

 

SANDFORD LANE OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Deferred taxation



2024


£






At beginning of year
-


Charged to profit or loss
(319,137)



At end of year
(319,137)

The provision for deferred taxation is made up as follows:

2024
£


Fair value gains on investment property revaluation
(319,137)

(319,137)


8.


Share capital

2024
£
Allotted, called up and fully paid


90 Ordinary shares shares of £1.00 each
90


On incorporation, the company issued 90 Ordinary shares of £1.00.


9.


Related party transactions

At the balance sheet date, included in other creditors, is a balance of £3,878,424 due to the directors. This amount is interest free, unsecured and repayable on demand.

 
Page 9