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REGISTERED NUMBER: 10865493 (England and Wales)















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SANDSFIELD LIMITED

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 30 June 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


SANDSFIELD LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: Mrs S L Mewburn
M W Mewburn
R C Mewburn
G A Mewburn
Miss E J Mewburn





REGISTERED OFFICE: Sandsfield Farm
Catwick Lane
Brandesburton
Driffield
East Yorkshire
YO25 8SB





REGISTERED NUMBER: 10865493 (England and Wales)





AUDITORS: Sowerby
Chartered Accountants and Statutory Auditors
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

GROUP STRATEGIC REPORT
for the Year Ended 30 June 2024


The directors present their strategic report of the company and the group for the year ended 30 June 2024.

PRINCIPLE ACTIVITIES AND REVIEW OF BUSINESS
The principle activity of the company is that of a holding company. The principle activities of the group throughout the year remains the operation of a pizza parlour, a holiday home park and the sale of caravans and lodges, the extraction and sale of sand and gravel bearing deposits, the provision of waste facilities for waste disposal and a farm enterprise.

All parts of the group have performed in line with expectations and the directors believe that the group will continue to perform well in the coming years.

Farming - The company operates within the farming sector which is prone to annual variation due to weather conditions. A very wet Autumn and Winter 2023 has seen crop damage which required re-drilling with Spring crop, this resulted in a slightly below average yield but the steadying of input cost within the sector has aided profit levels to be in line with the prior years. As expected, the profits from the cattle enterprises have increased from the prior years due to the increased number of cattle.

Gravel - The building and waste sector tightened during 2024 with consumer spending reducing due to economic uncertainty. This alongside the higher interest rates within the year has resulted in reduced performance compared with the prior years. However, this is in line with the sector and what the directors expected. The company were expecting the changes it witnessed in the sector and have therefore invested within the current year to diversify their offering post year end. The planning application to extract 600,000 tonnes of aggregate with restoration via landfill was approved in August 2023 and will extend quarrying and landfill activities until 2038 when actioned. The order for a washing plant to process aggregates to supply the three associated ready mixed concrete plants and the building trade was completed towards the end of the current year.

Leisure - The company's performance has retracted during the year, this wasn't unexpected and was due to a variety of internal and economic considerations. The main caravan and lodge sales team went through a period of restructuring of the management team, with sales reducing as a focus was put into a new structure. The changes were finalised around the year end with the new structure showing significant changes and post year end sales performing above expectations.


The group's key financial performance indicators during the year were as follows:
2024 2023
£ £   

Gross profit 1,756,135 2,688,456

(Loss)/Profit on ordinary activities before taxation (161,932 ) 633,541


The director's believe that the key risks facing the group include:

o uncertain consumer and retail demand amid the continued implications of the economic slowdown
o rising wage costs due to future increases in living wage

In managing the businesses the directors have established controls to enable them to respond to and mitigate the impact of such risks.


SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

GROUP STRATEGIC REPORT
for the Year Ended 30 June 2024

GOING CONCERN
All parts of the group have performed as expected. The group's financial reserves are strong, which has allowed continued significant investment in all areas of the business to help ensure ongoing success. The directors believe that the group will continue to perform well in the coming years, driven by the following:-
- The new washing plant which began producing aggregates post year end for which a favourable contract has already been signed with a customer.
- The Labour government's intention to spur building in Britain is expected to support the Group's activities over the coming years.
- Despite the leisure sectors continued contraction after the year end, the company has achieved income levels above the expected sector average, supported by the restructuring of the sales team within the lodge park.
- Although the restaurants have also experienced reduced performance after the year end, the main road closure near the restaurant location has continued to affect footfall and although this will continue for the foreseeable future, the Directors expect a significant boost when the road reconstruction is complete.
- Stabilisation of input costs in the farming the sector which has and will continue to help maintain profit levels.

Having considered the factors above, as well as the uncertainties of the current economic environment, the directors have a reasonable expectation that the group and each of its subsidiaries possess adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Furthermore, after taking into account liquidity risk, current market conditions, and other relevant factors, the directors are satisfied that there are no material uncertainties that would cast significant doubt on the group's ability to continue as a going concern.

ON BEHALF OF THE BOARD:





M W Mewburn - Director


17 March 2025

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

REPORT OF THE DIRECTORS
for the Year Ended 30 June 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £105,000. The directors do not recommend payment of a further dividend.

FUTURE DEVELOPMENTS
Looking forward, the company is striving to maximise its position in the market place and the directors consider the position of the company at the year end to be positive.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mrs S L Mewburn
M W Mewburn
R C Mewburn
G A Mewburn
Miss E J Mewburn

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

REPORT OF THE DIRECTORS
for the Year Ended 30 June 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





M W Mewburn - Director


17 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDSFIELD LIMITED


Opinion
We have audited the financial statements of Sandsfield Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDSFIELD LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDSFIELD LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

However, in identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance;

- we also obtained an understanding of the legal and regulatory frameworks that the company operates in and determined that the most significant are those that relate to the reporting framework, FRS 102, the Companies Act 2006 and the relevant tax laws and regulations in the UK. In addition, we concluded that there are certain significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements, relating in majority to general health and safety and employee matters;

- we reviewed results of our enquiries of management about their own identification and assessment of the risks of irregularities; and assessed how the entity identifies, evaluates and complies with laws and regulations and whether management were aware of any instances of non-compliance. We corroborated our enquiries through our review of board minutes and consideration of the results of our audit procedures across the company;

- we also considered how the entity detects and responds to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud, and;

- we considered the controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how management monitors those controls

- the internal controls established to mitigate risks of non-compliance with laws and regulations were also investigated.

- we also considered the existence of performance targets and their potential influence on management to manage earnings.

- where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk.
These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

We reviewed financial statement disclosures and performed testing to supporting documentation to assess compliance with applicable laws and regulations.

We also tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. There was a focus on manual journals and journals indicating large or unusual transactions; enquiries of company management; and challenging the assumptions and judgements made by management by reviewing third party evidence wherever possible.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SANDSFIELD LIMITED


The results of our procedures did not identify any instances or irregularities, including fraud.

No inherent difficulties were found in the standard processes for detecting irregularities; the nature, timing and extent of the audit procedures performed were not significantly impacted.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Elizabeth Blanchard BA(Hons) BFP ACA PGCE (Senior Statutory Auditor)
for and on behalf of Sowerby
Chartered Accountants and Statutory Auditors
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

17 March 2025

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONSOLIDATED INCOME STATEMENT
for the Year Ended 30 June 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 12,811,319 14,469,187

Cost of sales 11,055,183 11,780,731
GROSS PROFIT 1,756,136 2,688,456

Distribution costs 270,311 397,113
Administrative expenses 1,192,114 1,382,474
1,462,425 1,779,587
293,711 908,869

Other operating income 61,292 15,999
OPERATING PROFIT 5 355,003 924,868


Interest payable and similar expenses 6 516,934 291,327
(LOSS)/PROFIT BEFORE TAXATION (161,931 ) 633,541

Tax on (loss)/profit 7 19,557 115,941
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(181,488

)

517,600
(Loss)/profit attributable to:
Owners of the parent (196,320 ) 496,623
Non-controlling interests 14,832 20,977
(181,488 ) 517,600

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (181,488 ) 517,600


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(181,488

)

517,600

Total comprehensive income attributable to:
Owners of the parent (196,320 ) 496,623
Non-controlling interests 14,832 20,977
(181,488 ) 517,600

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONSOLIDATED BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 16,181,233 13,984,177
Investments 12 712 712
16,181,945 13,984,889

CURRENT ASSETS
Stocks 13 1,246,155 1,622,044
Debtors 14 1,479,753 1,438,909
Cash in hand 2,356 3,246
2,728,264 3,064,199
CREDITORS
Amounts falling due within one year 15 6,202,441 4,507,186
NET CURRENT LIABILITIES (3,474,177 ) (1,442,987 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,707,768

12,541,902

CREDITORS
Amounts falling due after more than one year 16 (4,879,585 ) (4,450,449 )

PROVISIONS FOR LIABILITIES 20 (913,418 ) (890,200 )
NET ASSETS 6,914,765 7,201,253

CAPITAL AND RESERVES
Called up share capital 21 5,000 5,000
Retained earnings 22 6,679,740 6,981,060
SHAREHOLDERS' FUNDS 6,684,740 6,986,060

NON-CONTROLLING INTERESTS 23 230,025 215,193
TOTAL EQUITY 6,914,765 7,201,253

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:



M W Mewburn - Director


SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

COMPANY BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 6,075 6,075
6,075 6,075

CURRENT ASSETS
Debtors 14 330,575 237,923

CREDITORS
Amounts falling due within one year 15 309,206 219,843
NET CURRENT ASSETS 21,369 18,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,444

24,155

CAPITAL AND RESERVES
Called up share capital 21 5,000 5,000
Retained earnings 22 22,444 19,155
SHAREHOLDERS' FUNDS 27,444 24,155

Company's profit for the financial year 108,289 122,260

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





M W Mewburn - Director


SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 June 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 July 2022 5,000 6,589,437 6,594,437 194,216 6,788,653

Changes in equity
Dividends - (105,000 ) (105,000 ) - (105,000 )
Total comprehensive income - 496,623 496,623 20,977 517,600
Balance at 30 June 2023 5,000 6,981,060 6,986,060 215,193 7,201,253

Changes in equity
Dividends - (105,000 ) (105,000 ) - (105,000 )
Total comprehensive income - (196,320 ) (196,320 ) 14,832 (181,488 )
Balance at 30 June 2024 5,000 6,679,740 6,684,740 230,025 6,914,765

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 5,000 1,895 6,895

Changes in equity
Dividends - (105,000 ) (105,000 )
Total comprehensive income - 122,260 122,260
Balance at 30 June 2023 5,000 19,155 24,155

Changes in equity
Dividends - (105,000 ) (105,000 )
Total comprehensive income - 108,289 108,289
Balance at 30 June 2024 5,000 22,444 27,444

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

CONSOLIDATED CASH FLOW STATEMENT
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,033,809 2,058,948
Interest paid (427,693 ) (254,700 )
Interest element of hire purchase payments paid (89,241 ) (36,627 )
Tax paid 3,661 (115,985 )
Net cash from operating activities 520,536 1,651,636

Cash flows from investing activities
Purchase of tangible fixed assets (1,786,017 ) (1,587,471 )
Sale of tangible fixed assets 94,950 200,328
Net cash from investing activities (1,691,067 ) (1,387,143 )

Cash flows from financing activities
New loans in year 1,306,350 700,000
Loan repayments in year (754,177 ) (672,795 )
Capital repayments in year (458,052 ) (425,438 )
Amount introduced by directors 628,410 88,594
Amount withdrawn by directors (76,387 ) (217,353 )
Equity dividends paid (105,000 ) (15,000 )
Net cash from financing activities 541,144 (541,992 )

Decrease in cash and cash equivalents (629,387 ) (277,499 )
Cash and cash equivalents at beginning of
year

2

(369,156

)

(91,657

)

Cash and cash equivalents at end of year 2 (998,543 ) (369,156 )

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the Year Ended 30 June 2024


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit before taxation (161,931 ) 633,541
Depreciation charges 1,146,187 1,038,116
Profit on disposal of fixed assets (91,887 ) (158,810 )
Finance costs 516,934 291,327
1,409,303 1,804,174
Decrease/(increase) in stocks 159,963 (237,595 )
(Increase)/decrease in trade and other debtors (40,847 ) 421,423
(Decrease)/increase in trade and other creditors (494,610 ) 70,946
Cash generated from operations 1,033,809 2,058,948

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 2,356 3,246
Bank overdrafts (1,000,899 ) (372,402 )
(998,543 ) (369,156 )
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 3,246 3,764
Bank overdrafts (372,402 ) (95,421 )
(369,156 ) (91,657 )


SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the Year Ended 30 June 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1/7/23 Cash flow changes At 30/6/24
£    £    £    £   
Net cash
Cash at bank
and in hand 3,246 (890 ) 2,356
Bank overdrafts (372,402 ) (628,497 ) (1,000,899 )
(369,156 ) (629,387 ) (998,543 )
Debt
Finance leases (846,673 ) 625,061 (1,344,363 ) (1,565,975 )
Debts falling due
within 1 year (737,527 ) (790,255 ) - (1,527,782 )
Debts falling due
after 1 year (3,943,118 ) 71,076 - (3,872,042 )
(5,527,318 ) (94,118 ) (1,344,363 ) (6,965,799 )
Total (5,896,474 ) (723,505 ) (1,344,363 ) (7,964,342 )

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Sandsfield Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Sandsfield Farm, Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8SB.

The group consists of Sandsfield Limited and all of its subsidiaries.

The principal activity of the company is that of a holding company. The principal activities of the group are the extraction and sale of sand and gravel bearing deposits, the provision of waste facilities for waste disposal, a farm enterprise, the company is running licenced restaurants, operating a holiday home park and caravan and lodge sales.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
All parts of the group have performed as expected. The group's financial reserves are strong, which has allowed continued significant investment in all areas of the business to help ensure ongoing success. The directors believe that the group will continue to perform well in the coming years, driven by the following:-
- The new washing plant which began producing aggregates post year end for which a favourable contract has already been signed with a customer.
- The Labour government's intention to spur building in Britain is expected to support the Group's activities over the coming years.
- Despite the leisure sectors continued contraction after the year end, the company has achieved income levels above the expected sector average, supported by the restructuring of the sales team within the lodge park.
- Although the restaurants have also experienced reduced performance after the year end, the main road closure near the restaurant location has continued to affect footfall and although this will continue for the foreseeable future, the Directors expect a significant boost when the road reconstruction is complete.
- Stabilisation of input costs in the farming the sector which has and will continue to help maintain profit levels.

Having considered the factors above, as well as the uncertainties of the current economic environment, the directors have a reasonable expectation that the group and each of its subsidiaries possess adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Furthermore, after taking into account liquidity risk, current market conditions, and other relevant factors, the directors are satisfied that there are no material uncertainties that would cast significant doubt on the group's ability to continue as a going concern.

Basis of consolidation
The financial statements are made up the 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group. Certain subsidiaries have an accounting reference date of 29 June and have taken advantage of the seven day rule to prepare financial statements made up to 30 June 2024.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the group's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

No key sources of estimation uncertainty are noted by management that have a significant effect on the amounts recognised in the financial statements excluding those noted below.

Provisions

Consideration is made for the need of provisions in respect to the restoration of land and future costs the group may incur. It is of the opinion of the directors that the rectification costs are self funded via waste deposited into the landfill sites and that no provision is required.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill
Goodwill representing the excess of consideration for an acquired undertaking, or acquired trade and assets, compared with the fair value of the net assets acquired is capitalised and written off evenly over 10 years.

Goodwill is recognised at cost less accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 25% on cost, 20% on cost, 5% on cost and 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Minerals and landfill - at variable rates on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Biological assets are recognised in the balance sheet using the cost model. Biological assets represent reared livestock and cultivated crops which are held with a view to sale being made within one year. As a result of this the directors do not consider it appropriate to depreciate these assets.

Financial instruments
Basic financial instruments are initially recognised at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. This is unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at the market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

The assets of the scheme are held separately from those of the company in an independently administered fund.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such case the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of financial assets

Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that have occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Interest bearing borrowings

Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Related parties

For the purposes of these financial statements, a party is considered to be related to the company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company;

(ii) the company and the party are subject to common control;

(iii) the party is an associate of the company or a joint venture in which the company is a venture

(iv) the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.

(vii) the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Caravan and chalet income 1,631,012 1,498,844
Caravan and lodge sales 2,667,720 3,274,649
Restaurant takings 2,041,298 2,062,256
Tipping and skip income 4,237,111 5,453,370
Sand and gravel sales 525,437 576,469
Farming income 1,493,521 1,407,809
Subsidy grants 95,131 82,928
Renewable heat incentive 120,089 112,862
12,811,319 14,469,187

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,042,045 2,022,162
Social security costs 165,815 159,546
Other pension costs 35,920 94,051
2,243,780 2,275,759

The average number of employees during the year was as follows:
2024 2023

Administration 5 5
Tipping and gravel site staff 25 36
Caravan and pizza site staff 68 72
Farming staff 5 9
103 122

2024 2023
£    £   
Directors' remuneration 42,533 44,529
Directors' pension contributions to money purchase schemes - 60,000

Payments of £Nil into a SASS scheme were allocated to directors within the group. (2023: £120,000)

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 60,000 60,000
Depreciation - owned assets 1,146,187 1,037,475
Profit on disposal of fixed assets (91,887 ) (158,810 )
Goodwill amortisation - 642
Auditors' remuneration 24,170 24,512
Operating leases 388,207 452,379

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 39,141 9,609
Bank loan interest 320,677 216,378
Non bank interest on loans 67,875 28,713
Hire purchase 89,241 36,627
516,934 291,327

7. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (3,661 ) (46,830 )

Deferred tax 23,218 162,771
Tax on (loss)/profit 19,557 115,941

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (161,931 ) 633,541
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

(40,483

)

158,385

Effects of:
Expenses not deductible for tax purposes 3,841 1,537
Income not taxable for tax purposes - (7,500 )
Capital allowances in excess of depreciation (302,383 ) (226,861 )
Adjustments to tax charge in respect of previous periods (3,661 ) (46,830 )
Land remediation - (1,396 )
Gains - 20,474
Tax losses not utilised 339,025 55,361
Deferred Tax 23,218 162,771
Total tax charge 19,557 115,941

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. In the year to 30 June 2024, deferred tax is charged at 25% (2023 - 25%).

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS

2024 2023
£    £   

Dividends 105,000 105,000





SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 17,000
AMORTISATION
At 1 July 2023
and 30 June 2024 17,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

11. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 July 2023 13,131,547 183,042 5,823,199
Additions 481,881 - 1,079,743
Disposals - - (212,486 )
Reclassification/transfer - - 215,926
At 30 June 2024 13,613,428 183,042 6,906,382
DEPRECIATION
At 1 July 2023 3,104,366 43,145 3,718,243
Charge for year 287,844 8,007 417,427
Eliminated on disposal - - (209,423 )
At 30 June 2024 3,392,210 51,152 3,926,247
NET BOOK VALUE
At 30 June 2024 10,221,218 131,890 2,980,135
At 30 June 2023 10,027,181 139,897 2,104,956

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures Minerals
and Motor and
fittings vehicles landfill Totals
£    £    £    £   
COST
At 1 July 2023 1,125,645 460,773 3,783,082 24,507,288
Additions 90,878 617,792 860,086 3,130,380
Disposals - (5,028 ) - (217,514 )
Reclassification/transfer - - - 215,926
At 30 June 2024 1,216,523 1,073,537 4,643,168 27,636,080
DEPRECIATION
At 1 July 2023 1,033,378 284,560 2,339,419 10,523,111
Charge for year 37,857 105,001 290,051 1,146,187
Eliminated on disposal - (5,028 ) - (214,451 )
At 30 June 2024 1,071,235 384,533 2,629,470 11,454,847
NET BOOK VALUE
At 30 June 2024 145,288 689,004 2,013,698 16,181,233
At 30 June 2023 92,267 176,213 1,443,663 13,984,177

Included in cost of land and buildings is freehold land of £2,822,651 (2023 - £2,822,651) which is not depreciated.

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases:

2023 2022
£    £   

Motor Vehicles 62,246 78,845
Plant and machinery 1,138,110 819,127
1,200,356 897,972

Depreciation charge 256,396 246,608



Included in Plant and Machinery additions is £699,551 in relation to assets under construction (2023: nil). Assets under construction are not depreciated.

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


12. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 712
NET BOOK VALUE
At 30 June 2024 712
At 30 June 2023 712
Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 6,075
NET BOOK VALUE
At 30 June 2024 6,075
At 30 June 2023 6,075

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Sandsfield Leisure Limited
Registered office: Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8SB
Nature of business: Trading
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,785,557 1,743,962
Profit for the year 71,595 287,813

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


12. FIXED ASSET INVESTMENTS - continued

Sandsfield Gravel Company Limited
Registered office: Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8SB
Nature of business: Trading
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 4,157,746 4,548,445
(Loss)/profit for the year (240,699 ) 143,622

J H Mewburn Limited
Registered office: Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8SB
Nature of business: Trading
%
Class of shares: holding
Ordinary 75.00
2024 2023
£    £   
Aggregate capital and reserves 950,093 890,764
Profit for the year 59,328 113,904

Dacre Pigs Limited
Registered office: Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8SB
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 31/5/23
£    £   
Aggregate capital and reserves 9,979 9,979

Dacre Pigs Limited is a 100% subsidiary of J H Mewburn Limited.


13. STOCKS

Group
2024 2023
£    £   
Stocks 1,246,155 1,622,044

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 892,222 936,513 - -
Amounts owed by group undertakings - 232 322,325 229,673
Other debtors 283,773 258,002 - -
Prepayments and accrued income 164,415 131,777 - -
Prepayments 139,343 112,385 8,250 8,250
1,479,753 1,438,909 330,575 237,923

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 1,977,096 782,928 77,551 11,890
Other loans (see note 17) 551,585 327,001 - -
Hire purchase contracts (see note 18) 582,496 364,059 - -
Trade creditors 1,509,208 1,807,276 - -
Amounts owed to group undertakings - - 225,175 195,175
Social security and other taxes 368,119 483,547 - -
VAT 130,401 186,584 - -
Other creditors 6,870 6,870 - -
Directors' current accounts 658,326 106,303 - -
Accruals and deferred income 418,340 442,618 6,480 12,778
6,202,441 4,507,186 309,206 219,843

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Bank loans (see note 17) 3,084,778 3,409,281
Other loans (see note 17) 787,264 533,837
Hire purchase contracts (see note 18) 983,479 482,614
Other creditors 24,064 24,717
4,879,585 4,450,449

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1,000,899 372,402 77,551 11,890
Bank loans 976,197 410,526 - -
Other loans 551,585 327,001 - -
2,528,681 1,109,929 77,551 11,890
Amounts falling due between one and two years:
Bank loans - 1-2 years 330,737 380,818 - -
Other loans - 1-2 years 335,835 237,677 - -
666,572 618,495 - -
Amounts falling due between two and five years:
Bank loans - 2-5 years 924,086 1,062,681 - -
Other loans - 2-5 years 451,429 296,160 - -
1,375,515 1,358,841 - -
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,829,955 1,965,782 - -

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 582,496 364,059
Between one and five years 983,479 482,614
1,565,975 846,673

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


18. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 133,625 132,333
Between one and five years 273,000 342,500
In more than five years 30,000 90,000
436,625 564,833

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank overdrafts 1,000,899 372,402
Bank loans 4,060,975 3,819,807
Hire purchase contracts 1,565,975 846,673
6,627,849 5,038,882

Bank loans and other borrowings are secured against freehold land and buildings. Net obligations under finance leases are secured by fixed charges on the assets to which the agreements relate.

20. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Tax losses carried forward (396,080 ) (55,361 )
Deferred tax 1,309,498 945,561
913,418 890,200

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


20. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 July 2023 890,200
Tax losses
Deferred Tax 23,218
Balance at 30 June 2024 913,418

21. CALLED UP SHARE CAPITAL

2023 2022
£    £   
Number Class Nominal Value
553 A Ordinary 1 553 553
600 B Ordinary 1 600 600
2845 C Ordinary 1 2845 2845
1 D Ordinary 1 1 1
250 E Ordinary 1 250 250
1 F Ordinary 1 1 1
250 G Ordinary 1 250 250
250 H Ordinary 1 250 250
250 I Ordinary 1 250 250
5000 5000

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All ordinary shares rank equally with regard to the company's residual assets.

22. RESERVES

Group
Retained
earnings
£   

At 1 July 2023 6,981,060
Deficit for the year (196,320 )
Dividends (105,000 )
At 30 June 2024 6,679,740

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


22. RESERVES - continued

Company
Retained
earnings
£   

At 1 July 2023 19,155
Profit for the year 108,289
Dividends (105,000 )
At 30 June 2024 22,444


23. NON-CONTROLLING INTERESTS

J.H. Mewburn Limited is not a wholly owned subsidiary. The minority interest in current year profit and year end net assets of J.H. Mewburn Limited is reported on the face of the balance sheet and consolidated income statement.

24. CONTINGENT LIABILITIES

The company has guaranteed, by way of a debenture over its assets and by a cross guarantee with its parent undertaking, Sandsfield Limited, and fellow group undertakings, Sandsfield Gravel Company Limited, Sandsfield Leisure Limited and J. H. Mewburn Limited, the liabilities to bankers of that company. Sandsfield Limited, Sandsfield Leisure Limited and Sandsfield Gravel Company Limited all have access to a group overdraft.

25. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 131,850 -

Capital commitments relate to the completion of the new Sand and Gravel processing plant in progress as at year end.

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
M W Mewburn
Balance outstanding at start of year (65,202 ) (207,586 )
Amounts advanced 580,643 172,384
Amounts repaid (35,235 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 480,206 (65,202 )

SANDSFIELD LIMITED (REGISTERED NUMBER: 10865493)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024


27. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

In the current year contributions of £Nil were made to a SASS in which the directors are beneficiaries (2023: £120,000).

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Rent payable 58,290 133,290

Other related parties
2024 2023
£    £   
Sales 36,607 26,696
Purchases 36,887 91,694
Amount due from related party 64,528 24,442
Amount due to related party 933,016 858,838

During the year, a total of key management personnel compensation of £ 82,230 (2023 - £ 104,529 ) was paid.

28. ULTIMATE CONTROLLING PARTY

The controlling party is M W Mewburn.

The ultimate controlling party is M W Mewburn.