Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30falsetrue2023-07-01falseBuying and selling of own real estate11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06272363 2023-07-01 2024-06-30 06272363 2022-07-01 2023-06-30 06272363 2024-06-30 06272363 2023-06-30 06272363 c:Director1 2023-07-01 2024-06-30 06272363 d:FreeholdInvestmentProperty 2024-06-30 06272363 d:FreeholdInvestmentProperty 2023-06-30 06272363 d:CurrentFinancialInstruments 2024-06-30 06272363 d:CurrentFinancialInstruments 2023-06-30 06272363 d:Non-currentFinancialInstruments 2024-06-30 06272363 d:Non-currentFinancialInstruments 2023-06-30 06272363 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06272363 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06272363 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 06272363 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06272363 d:UKTax 2023-07-01 2024-06-30 06272363 d:UKTax 2022-07-01 2023-06-30 06272363 d:ShareCapital 2024-06-30 06272363 d:ShareCapital 2023-06-30 06272363 d:RetainedEarningsAccumulatedLosses 2024-06-30 06272363 d:RetainedEarningsAccumulatedLosses 2023-06-30 06272363 c:FRS102 2023-07-01 2024-06-30 06272363 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06272363 c:FullAccounts 2023-07-01 2024-06-30 06272363 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06272363 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 06272363









SANDAL ESTATES NO.1 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SANDAL ESTATES NO.1 LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SANDAL ESTATES NO.1 LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sandal Estates No.1 Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Sandal Estates No.1 Limited in accordance with the terms of our engagement letter dated 28 March 2025Our work has been undertaken solely to prepare for your approval the financial statements of Sandal Estates No.1 Limited and state those matters that we have agreed to state to the director of Sandal Estates No.1 Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sandal Estates No.1 Limited and its director for our work or for this report. 

It is your duty to ensure that Sandal Estates No.1 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sandal Estates No.1 Limited. You consider that Sandal Estates No.1 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sandal Estates No.1 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
B16 8SP

28 March 2025
Page 1

 
SANDAL ESTATES NO.1 LIMITED
REGISTERED NUMBER: 06272363

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 6 
3,308,731
3,308,731

  
3,308,731
3,308,731

Current assets
  

Debtors: amounts falling due within one year
 7 
924,472
934,454

Cash at bank and in hand
 8 
14,650
48,626

  
939,122
983,080

Creditors: amounts falling due within one year
 9 
(1,021,714)
(994,502)

Net current liabilities
  
 
 
(82,592)
 
 
(11,422)

Total assets less current liabilities
  
3,226,139
3,297,309

Creditors: amounts falling due after more than one year
 10 
(1,884,854)
(1,963,151)

  

Net assets
  
1,341,285
1,334,158


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,341,284
1,334,157

  
1,341,285
1,334,158


The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 statement of comprehensive income 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 on 28 March 2025.

Page 2

 
SANDAL ESTATES NO.1 LIMITED
REGISTERED NUMBER: 06272363
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024




Khalid Hussain
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Sandal Estates No.1 Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 06272363. The address of the registered office is 77 Francis Road, Birmingham, England, B16 8SP.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
6,355
2,453


6,355
2,453


Total current tax
6,355
2,453

Deferred tax

Total deferred tax
-
-


Taxation on profit on ordinary activities
6,355
2,453
Page 6

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 19% (2023 - 19%) as set out below:

2024
2023
£
£


Profit on ordinary activities before tax
33,446
12,910


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
6,355
2,453

Effects of:

Total tax charge for the year
6,355
2,453


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Dividends



Page 7

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
3,308,731



At 30 June 2024
3,308,731

The 2024 valuations were made by directors, 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
2023
£
£


Historic cost
3,308,731
3,308,731

3,308,731
3,308,731


7.


Debtors

2024
2023
£
£


Amounts owed by group related parties
640,472
640,472

Other debtors
284,000
293,982

924,472
934,454



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,650
48,626

14,650
48,626


Page 8

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
65,306
45,073

Amounts owed to related parties
473,869
473,869

Corporation tax
13,791
7,436

Other creditors
219,628
219,004

Accruals and deferred income
249,120
249,120

1,021,714
994,502



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,884,854
1,963,151

1,884,854
1,963,151


Page 9

 
SANDAL ESTATES NO.1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Related party transactions

Khalid Hussain is the sole directors and shareholders of the company.
During the year, the directo provided loans of £9,140 to the company. At 30 June 2024, the Company owed £842 (2023: £9,982) to the directors, which is included in other creditors due within one year.
During the year,  the company did have any transactions with Clough Development Limited. At 30 June 2024, Clough Development Limited owed £296,224 (2023: 296,224) to Sandal Estates No 1 Limited, which is included in debtors due within one year.
 
During the year,  the company did have any transactions with Wickersley Homes Limited. At 30 June 2024, Sandal Estates No.1 Limited owed £60,107 (2023: £60,107) to Wickersley Homes Limited, which is included in creditors due within one year.
During the year,  the company did have any transactions with Birkdale Properties Limited. At 30 June 2024, Sandal Estates No.1 Limited owed £413,762 (2023: £413,762) to Birkdale Properties Limited, which is included in creditors due within one year.
 
During the year, the company did have any transactions with Infinity Estates Limited. At 30 June 2024, Infinity Estates Limited owed £344,248 (2023: £344,248) to Sandal Estates No.1 Limited, which is included in debtors due within one year.
During the year, the company did have any transactions with Fairleigh Constructions limited. At 30 June 2024, the Company owed £118,850 (2023: £118,850) to Fairleigh Constructions Limited, which is included in other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


12.


Controlling party

During the year, the company was under the control of Khalid Hussain, who is both the director and shareholder of the company.
 
Page 10