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Company No: 08418657 (England and Wales)

SANDPITS HEATING CENTRE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SANDPITS HEATING CENTRE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SANDPITS HEATING CENTRE LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
SANDPITS HEATING CENTRE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr J M Macey
Mr R A Macey
SECRETARY Mrs D M Macey
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
BUSINESS ADDRESS High Street
Curry Rivel
Langport
Somerset
TA10 0ES
COMPANY NUMBER 08418657 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
SANDPITS HEATING CENTRE LTD

BALANCE SHEET

As at 31 March 2024
SANDPITS HEATING CENTRE LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 383,452 443,041
383,452 443,041
Current assets
Stocks 5 400,000 475,000
Debtors 6 106,519 130,816
Cash at bank and in hand 44,096 77,137
550,615 682,953
Creditors: amounts falling due within one year 7 ( 839,582) ( 763,606)
Net current liabilities (288,967) (80,653)
Total assets less current liabilities 94,485 362,388
Creditors: amounts falling due after more than one year 8 ( 117,434) ( 201,998)
Provision for liabilities ( 72,121) ( 88,759)
Net (liabilities)/assets ( 95,070) 71,631
Capital and reserves
Called-up share capital 9 102 102
Profit and loss account ( 95,172 ) 71,529
Total shareholders' (deficit)/funds ( 95,070) 71,631

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sandpits Heating Centre Ltd (registered number: 08418657) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

Mr J M Macey
Director
SANDPITS HEATING CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SANDPITS HEATING CENTRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Sandpits Heating Centre 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 Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is High Street, Curry Rivel, Langport, Somerset, TA10 0ES.

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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 directors 32 35

3. Dividends on equity shares

The directors acknowledge that Ultra Vires dividends were declared and paid during the year. At the time the dividends were paid the directors were not aware that there were insufficient profits available for distribution. The directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.

4. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2023 157,584 61,951 532,687 752,222
Additions 45,107 2,637 0 47,744
At 31 March 2024 202,691 64,588 532,687 799,966
Accumulated depreciation
At 01 April 2023 85,463 13,585 210,133 309,181
Charge for the financial year 19,241 7,454 80,638 107,333
At 31 March 2024 104,704 21,039 290,771 416,514
Net book value
At 31 March 2024 97,987 43,549 241,916 383,452
At 31 March 2023 72,121 48,366 322,554 443,041

5. Stocks

2024 2023
£ £
Stocks 400,000 475,000

6. Debtors

2024 2023
£ £
Trade debtors 58,598 85,023
Amounts owed by directors 32,164 30,673
Prepayments 3,477 0
Other debtors 12,280 15,120
106,519 130,816

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 90,853 10,000
Trade creditors 358,409 530,215
Amounts owed to directors 9,079 0
Accruals 29,244 7,314
Other taxation and social security 85,002 70,408
Obligations under finance leases and hire purchase contracts 74,624 78,582
Other creditors 192,371 67,087
839,582 763,606

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

2024 2023
£ £
Bank loans 12,500 22,500
Obligations under finance leases and hire purchase contracts 104,934 179,498
117,434 201,998

Obligations under finance lease and hire purchase contracts have been secured over the assets of the company.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
99 Ordinary shares of £ 1.00 each 99 99
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
102 102

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Director 1 (9,079) 8,499
Director 2 32,164 22,174

Advances made to Director 1 during the year totalled £15,922, of which £33,500 was repaid via dividends voted. Advances made to Director 2 during the year totalled £72,990, of which £63,000 was repaid via dividends voted.

Interest on these loans is chargeable at the HMRC approved rate and they are repayable on demand.

Other related party transactions

During the current and previous year a loan account existed between Sandpits Heating Centre Ltd and a shareholder.

This loan is interest free and repayable on demand.

At the year end £168,872 (2023: £42,863) was owed to the shareholder and is shown in other creditors.

During the current and previous year loan accounts existed between Sandpits Heating Centre Ltd and another company in which the directors are directors and/or shareholders.

These loans are interest free and repayable on demand.

At the year end £19,933 (2023: £20,057) was owed to this company and is shown in other creditors.