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REGISTERED NUMBER: 03443003 (England and Wales)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 July 2024

for

Sandhurst Autoprint Limited

Sandhurst Autoprint Limited (Registered number: 03443003)






Contents of the Consolidated Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Sandhurst Autoprint Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr T M Sanders





SECRETARY: Mrs J A Sanders





REGISTERED OFFICE: Unit 9 Springlakes Estate
Deadbrook Lane
Aldershot
Hampshire
GU12 4UH





REGISTERED NUMBER: 03443003 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Sandhurst Autoprint Limited (Registered number: 03443003)

Group Strategic Report
for the Year Ended 31 July 2024

The director presents his strategic report of the company and the group for the year ended 31 July 2024.

REVIEW OF BUSINESS
The group's key financial performance indicators during the period were as follows:

2024 2023
£'000s £'000s

Group turnover 21,679 23,243
Gross profit 5,850 6,273
Operating profit / (loss) 1,390 1,449
EBITDA 2,049 2,017
Net cash from operating activities 2,737 1,217
Cash at bank 5,196 4,169


The group's operating results have performed in line with the expectations of the directors. During the year the group managed its operational efficiency and cost control which has enabled the group to report a gross profit margin of 26.99% in line with 2023. The group's key profit measure is EBITDA, which is calculated as operating profit excluding depreciation and amortisation, which in 2024 was £2,040,378. The group's operating profit reported on a statutory basis was £1,389,872 which includes depreciation and amortisation of £650,506.

The group continues to invest both in its people and fixed assets. Capital expenditure on tangible assets was £613,328 in the year as key part of continuing the growth of the group.


Sandhurst Autoprint Limited (Registered number: 03443003)

Group Strategic Report
for the Year Ended 31 July 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Interest risk
The group's loans carry a mix of variable and fixed rate of interest which spreads the risk reducing the chance that changes in interest rate would increase the group's interest costs.

Liquidity risk
The group produce detailed monthly management accounts and forecasts, which enable the management to monitor the cash position and to ensure that there is sufficient liquidity and cash to minimise the risk of the group being unable to pay its debts as they fall due. The loan's maturity profile means that there are no significant debt repayment outflows that would adversely affect the day-to-day operation of the business and the group maintains sufficient cash reserves for the continued operation of the business and foreseen investments.

Credit risk
The group's principle credit risk arises from the ability of its customers to meet their contractual obligation to pay their debts as and when they fall due. The group's approach to managing this risk is to continually monitor debt collection, performing appropriate credit checks on new and existing customers using third party credit reference agencies to assess creditworthiness and set appropriate credit and payment terms.

Currency risk
The group trades predominantly with UK headquartered businesses in Sterling and has minimal currency risk.

Competitive risk
The market in which the group operates is competitive. The group is passionate about customer success and being trusted to deliver exceptional services. The focus on strong customer relationships and service offerings mitigate the competitive risk.

Tax risk
All transactions undertaken by the group have a business purpose and a commercial rationale. The group does not engage in any aggressive tax planning and does not implement structures purely for tax planning purposes. In relation to tax compliance, it is the policy of the group to fully comply with all applicable tax rules, regulations and disclosure requirements. The group uses appropriately qualified external advisors to look after the group's tax affairs.

ON BEHALF OF THE BOARD:





Mr T M Sanders - Director


4 April 2025

Sandhurst Autoprint Limited (Registered number: 03443003)

Report of the Director
for the Year Ended 31 July 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the group during the year was the supply of materials for, and the manufacture of, vehicle registration plates, the leasing of equipment for manufacture thereof and the operation of a garage.

DIVIDENDS
The total distribution of dividends for the year ended 31 July 2024 was £700,000.

DIRECTOR
Mr T M Sanders held office during the whole of the period from 1 August 2023 to the date of this report.

DONATIONS
In the year, donations were made totalling £3,951 (2023: £9,014)

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr T M Sanders - Director


4 April 2025

Report of the Independent Auditors to the Members of
Sandhurst Autoprint Limited

Opinion
We have audited the financial statements of Sandhurst Autoprint Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 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 31 July 2024 and of the group's profit 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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.

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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Sandhurst Autoprint Limited


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Sandhurst Autoprint 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud.

-The engagement partners ensured that the engagement team collectively had the appropriate competence, capabilities and skill to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

-we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instance of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

-understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, we;

-performed analytical procedures to identify unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

Audit response to risks identified
In response to the risk of irregularities and non-compliance with laws and regulations; we designed procedures which included, but were not limited to;

-agreeing financial statement disclosures to underlying supporting documentation;
-enquiring of management as to actual and potential litigation and claims; and
-reviewing correspondence with HMRC, relevant regulators and company's legal advisors.


Report of the Independent Auditors to the Members of
Sandhurst Autoprint Limited

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment of collusion.

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.




Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

10 April 2025

Sandhurst Autoprint Limited (Registered number: 03443003)

Consolidated Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 3 21,679,389 23,243,146

Cost of sales (15,829,152 ) (16,969,823 )
GROSS PROFIT 5,850,237 6,273,323

Distribution costs (1,903,072 ) (1,732,992 )
Administrative expenses (2,611,206 ) (3,112,949 )
1,335,959 1,427,382

Other operating income 53,913 21,817
OPERATING PROFIT 5 1,389,872 1,449,199

Interest receivable and similar income 48,039 8,073
1,437,911 1,457,272

Interest payable and similar expenses 6 (75,203 ) (58,926 )
PROFIT BEFORE TAXATION 1,362,708 1,398,346

Tax on profit 7 (337,889 ) (493,586 )
PROFIT FOR THE FINANCIAL YEAR 1,024,819 904,760
Profit attributable to:
Owners of the parent 1,024,819 904,760

Sandhurst Autoprint Limited (Registered number: 03443003)

Consolidated Other Comprehensive Income
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

PROFIT FOR THE YEAR 1,024,819 904,760


OTHER COMPREHENSIVE INCOME
Revaluation reserve - 159,783
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE YEAR,
NET OF INCOME TAX

-

159,783
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,024,819 1,064,543

Total comprehensive income attributable to:
Owners of the parent 1,024,819 1,064,543

Sandhurst Autoprint Limited (Registered number: 03443003)

Consolidated Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 10 883,118 972,860
Tangible assets 11 5,219,157 5,111,013
Investments 12 - -
Investment property 13 624,478 596,818
6,726,753 6,680,691

CURRENT ASSETS
Stocks 14 2,874,127 3,491,592
Debtors 15 2,379,724 2,110,910
Cash at bank 16 5,195,785 4,169,114
10,449,636 9,771,616
CREDITORS
Amounts falling due within one year 17 (3,482,184 ) (2,971,543 )
NET CURRENT ASSETS 6,967,452 6,800,073
TOTAL ASSETS LESS CURRENT LIABILITIES 13,694,205 13,480,764

CREDITORS
Amounts falling due after more than one year 18 (680,083 ) (791,402 )

PROVISIONS FOR LIABILITIES 22 (848,690 ) (848,749 )
NET ASSETS 12,165,432 11,840,613

CAPITAL AND RESERVES
Called up share capital 23 50,000 50,000
Investment revaluation reserve 24 1,064,826 1,064,826
Retained earnings 24 11,050,606 10,725,787
SHAREHOLDERS' FUNDS 12,165,432 11,840,613

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





Mr T M Sanders - Director


Sandhurst Autoprint Limited (Registered number: 03443003)

Company Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 10 136,602 120,978
Tangible assets 11 1,354,271 1,257,783
Investments 12 2,792,340 2,791,338
Investment property 13 - -
4,283,213 4,170,099

CURRENT ASSETS
Stocks 14 1,553,582 1,340,412
Debtors 15 4,066,981 4,284,080
Cash at bank 16 2,611,695 1,421,883
8,232,258 7,046,375
CREDITORS
Amounts falling due within one year 17 (2,129,208 ) (1,738,182 )
NET CURRENT ASSETS 6,103,050 5,308,193
TOTAL ASSETS LESS CURRENT LIABILITIES 10,386,263 9,478,292

CREDITORS
Amounts falling due after more than one year 18 (10,018 ) (7,644 )

PROVISIONS FOR LIABILITIES 22 (406,276 ) (420,172 )
NET ASSETS 9,969,969 9,050,476

CAPITAL AND RESERVES
Called up share capital 23 50,000 50,000
Retained earnings 24 9,919,969 9,000,476
SHAREHOLDERS' FUNDS 9,969,969 9,050,476

Company's profit for the financial year 1,619,493 876,811

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





Mr T M Sanders - Director


Sandhurst Autoprint Limited (Registered number: 03443003)

Consolidated Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up Investment
share Retained revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 August 2022 50,000 9,821,027 905,043 10,776,070

Changes in equity
Total comprehensive income - 904,760 159,783 1,064,543
Balance at 31 July 2023 50,000 10,725,787 1,064,826 11,840,613

Changes in equity
Dividends - (700,000 ) - (700,000 )
Total comprehensive income - 1,024,819 - 1,024,819
Balance at 31 July 2024 50,000 11,050,606 1,064,826 12,165,432

Sandhurst Autoprint Limited (Registered number: 03443003)

Company Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 50,000 8,123,665 8,173,665

Changes in equity
Total comprehensive income - 876,811 876,811
Balance at 31 July 2023 50,000 9,000,476 9,050,476

Changes in equity
Dividends - (700,000 ) (700,000 )
Total comprehensive income - 1,619,493 1,619,493
Balance at 31 July 2024 50,000 9,919,969 9,969,969

Sandhurst Autoprint Limited (Registered number: 03443003)

Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,052,900 1,529,438
Tax paid (315,777 ) (312,923 )
Net cash from operating activities 2,737,123 1,216,515

Cash flows from investing activities
Purchase of intangible fixed assets (72,708 ) (10,880 )
Purchase of tangible fixed assets (613,328 ) (1,199,236 )
Purchase of investment property (27,660 ) (86,360 )
Sale of tangible fixed assets 68,320 129,089
Interest received 48,039 8,073
Net cash from investing activities (597,337 ) (1,159,314 )

Cash flows from financing activities
Loan repayments in year (287,912 ) 234,272
Amount introduced by directors (50,000 ) -
Interest Paid (75,203 ) (43,409 )
Equity dividends paid (700,000 ) -
Net cash from financing activities (1,113,115 ) 190,863

Increase in cash and cash equivalents 1,026,671 248,064
Cash and cash equivalents at beginning of year 2 4,169,114 3,921,050

Cash and cash equivalents at end of year 2 5,195,785 4,169,114

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 July 2024

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

31.7.24 31.7.23
£    £   
Profit for the financial year 1,024,819 904,760
Depreciation charges 513,040 434,869
Profit on disposal of fixed assets (43,493 ) (52,062 )
Amortisation of Intangible assets 137,466 133,143
Finance costs 75,203 58,926
Finance income (48,039 ) (8,073 )
Taxation 337,889 493,586
1,996,885 1,965,149
Decrease in stocks 617,465 33,386
(Increase)/decrease in trade and other debtors (274,089 ) 96,562
Increase/(decrease) in trade and other creditors 712,639 (565,659 )
Cash generated from operations 3,052,900 1,529,438

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 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 5,195,785 4,169,114
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 4,169,114 3,921,050


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank 4,169,114 1,026,671 5,195,785
4,169,114 1,026,671 5,195,785
Debt
Debts falling due within 1 year (545,202 ) 174,219 (370,983 )
Debts falling due after 1 year (783,758 ) 113,693 (670,065 )
(1,328,960 ) 287,912 (1,041,048 )
Total 2,840,154 1,314,583 4,154,737

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Sandhurst Autoprint Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 2).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. lntercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

The company's subsidiary, Mogo (UK) Limited exempt from the requirements of the Companies Act 2006 relating to the audit of their accounts for the financial period ended 31 July 2024 by virtue of Section 479A of that Act.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following have had the most significant effect on amounts recognised in the financial statements.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the asset and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.

Goodwill

The company establishes a reliable estimate of the useful life of goodwill and intangible assets arising on business combinations. This estimate is based on a variety of factors such as the expected use of the acquired business, the expected usual life of the cash generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.

Taxation

The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Bad debt provisions

Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.

Stock provisions

Provisions are estimated by the company in respect of specific stock items based upon the age and condition of the items and knowledge of known issues.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer; the Group 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 Group 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 Group 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.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful life of 10 years.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised on the reducing balance method at a rate of 20%.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Freehold property- Straight line over 50 years
Leasehold property- Straight line over life of the lease
Plant and machinery- 25% reducing balance
Motor vehicles- Straight line over 3 years
Fixtures and fittings-10% reducing balance
Leasing equipment- 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

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.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks
Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.


Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Functional and presentation currency
The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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.

Pension costs and other post-retirement benefits
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

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.

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. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

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.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

31.7.24 31.7.23
£    £   
United Kingdom 21,679,389 23,243,146
21,679,389 23,243,146

4. EMPLOYEES AND DIRECTORS
31.7.24 31.7.23
£    £   
Wages and salaries 2,442,085 2,399,340
Social security costs 248,083 254,888
Other pension costs 169,720 126,526
2,859,888 2,780,754

The average number of employees during the year was as follows:
31.7.24 31.7.23

Administrative staff 41 46
Production staff 39 35
Distribution staff 12 14
92 95

31.7.24 31.7.23
£    £   
Director's remuneration 16,875 14,175

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

5. OPERATING PROFIT

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

31.7.24 31.7.23
£    £   
Other operating leases 525,166 245,615
Depreciation - owned assets 480,357 446,718
Profit on disposal of fixed assets (43,493 ) (52,062 )
Goodwill amortisation 133,143 133,143
Development costs amortisation 24,984 26,676
Computer software amortisation 4,323 -
Auditors' remuneration 23,857 26,343

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.7.24 31.7.23
£    £   
Bank loan interest 75,203 43,409
Loan interest - 15,517
75,203 58,926

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.7.24 31.7.23
£    £   
Current tax:
UK corporation tax 337,948 154,945

Deferred tax (59 ) 338,641
Tax on profit 337,889 493,586

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

31.7.24 31.7.23
£    £   
Profit before tax 1,362,708 1,398,346
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 -
21.005 %)

340,677

293,723

Effects of:
Expenses not deductible for tax purposes 42,020 33,728
Tax rate differences - 54,115
Short term timing difference leading to an increase in taxation (10,887 ) 16,481
Other timing difference leading to an increase in taxation (33,921 ) 104,055
Losses utilised not recognised as Deferred asset - (8,516 )
Total tax charge 337,889 493,586

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 July 2024.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

7. TAXATION - continued

31.7.23
Gross Tax Net
£    £    £   
Revaluation reserve 159,783 - 159,783

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
31.7.24 31.7.23
£    £   
Ordinary shares of £1 each
Interim 700,000 -

10. INTANGIBLE FIXED ASSETS

Group
Development Computer
Goodwill costs software Totals
£    £    £    £   
COST
At 1 August 2023 1,807,430 336,684 - 2,144,114
Additions - 40,608 32,100 72,708
At 31 July 2024 1,807,430 377,292 32,100 2,216,822
AMORTISATION
At 1 August 2023 955,548 215,706 - 1,171,254
Amortisation for year 133,143 24,984 4,323 162,450
At 31 July 2024 1,088,691 240,690 4,323 1,333,704
NET BOOK VALUE
At 31 July 2024 718,739 136,602 27,777 883,118
At 31 July 2023 851,882 120,978 - 972,860

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

10. INTANGIBLE FIXED ASSETS - continued

Company
Development
costs
£   
COST
At 1 August 2023 336,684
Additions 40,608
At 31 July 2024 377,292
AMORTISATION
At 1 August 2023 215,706
Amortisation for year 24,984
At 31 July 2024 240,690
NET BOOK VALUE
At 31 July 2024 136,602
At 31 July 2023 120,978

11. TANGIBLE FIXED ASSETS

Group
Freehold Short Long Plant and
property leasehold leasehold machinery
£    £    £    £   
COST
At 1 August 2023 3,402,585 131,223 142,973 2,974,211
Additions - - - 117,313
Disposals - (40,373 ) - (112,707 )
At 31 July 2024 3,402,585 90,850 142,973 2,978,817
DEPRECIATION
At 1 August 2023 220,314 71,800 142,973 1,932,191
Charge for year 2,462 16,934 - 219,725
Eliminated on disposal - (40,373 ) - (112,395 )
At 31 July 2024 222,776 48,361 142,973 2,039,521
NET BOOK VALUE
At 31 July 2024 3,179,809 42,489 - 939,296
At 31 July 2023 3,182,271 59,423 - 1,042,020

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Other Computer
fittings assets equipment Totals
£    £    £    £   
COST
At 1 August 2023 774,169 1,238,119 34,388 8,697,668
Additions 15,315 480,700 - 613,328
Disposals (75,708 ) (236,484 ) (6,160 ) (471,432 )
At 31 July 2024 713,776 1,482,335 28,228 8,839,564
DEPRECIATION
At 1 August 2023 526,687 684,648 8,042 3,586,655
Charge for year 53,035 181,428 6,773 480,357
Eliminated on disposal (66,150 ) (221,545 ) (6,142 ) (446,605 )
At 31 July 2024 513,572 644,531 8,673 3,620,407
NET BOOK VALUE
At 31 July 2024 200,204 837,804 19,555 5,219,157
At 31 July 2023 247,482 553,471 26,346 5,111,013

Included within Other assets is motor vehicles and leasing equipment.

Company
Fixtures
Short Plant and and Other
leasehold machinery fittings assets Totals
£    £    £    £    £   
COST
At 1 August 2023 131,223 1,836,007 414,014 1,006,024 3,387,268
Additions - 103,432 7,663 344,446 455,541
Disposals (40,373 ) (112,707 ) (75,708 ) (132,868 ) (361,656 )
At 31 July 2024 90,850 1,826,732 345,969 1,217,602 3,481,153
DEPRECIATION
At 1 August 2023 71,800 1,226,878 290,532 540,275 2,129,485
Charge for year 16,934 133,185 31,197 152,928 334,244
Eliminated on disposal (40,373 ) (112,395 ) (66,150 ) (117,929 ) (336,847 )
At 31 July 2024 48,361 1,247,668 255,579 575,274 2,126,882
NET BOOK VALUE
At 31 July 2024 42,489 579,064 90,390 642,328 1,354,271
At 31 July 2023 59,423 609,129 123,482 465,749 1,257,783

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 August 2023 2,791,338
Additions 1,002
At 31 July 2024 2,792,340
NET BOOK VALUE
At 31 July 2024 2,792,340
At 31 July 2023 2,791,338


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 August 2023 596,818
Additions 27,660
At 31 July 2024 624,478
NET BOOK VALUE
At 31 July 2024 624,478
At 31 July 2023 596,818

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 624,478

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 350,675 350,675

The 2024 valuations were made by the director, on an open market value for existing use basis.

14. STOCKS

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Stocks 2,874,127 3,491,592 1,553,582 1,340,412

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

15. DEBTORS

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Amounts falling due within one year:
Trade debtors 1,971,946 1,767,968 1,122,719 1,017,396
Amounts owed by group undertakings - - 122,111 283,734
Other debtors 94,327 48,621 51,722 6,405
Directors' loan accounts 50,000 - 50,000 -
Tax 38,033 93,308 38,033 93,308
Prepayments and accrued income 225,418 201,013 120,417 111,356
2,379,724 2,110,910 1,505,002 1,512,199

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 2,561,979 2,771,881

Aggregate amounts 2,379,724 2,110,910 4,066,981 4,284,080

16. CASH AT BANK
Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Cash and cash equivalents 5,195,785 4,169,114 2,611,695 1,421,883

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Bank loans and overdrafts (see note 19) 370,983 545,202 190,859 365,831
Trade creditors 1,890,540 1,269,731 1,278,455 665,121
Amounts owed to group undertakings - - 39,689 126,201
Tax 81,887 114,991 - -
Social security and other taxes 70,256 76,466 26,615 29,672
VAT 309,611 378,086 115,117 184,320
Other creditors 311,225 127,462 159,115 46,244
Accrued expenses 447,682 459,605 319,358 320,793
3,482,184 2,971,543 2,129,208 1,738,182

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

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Bank loans (see note 19) 670,065 783,758 - -
Accruals and deferred income 10,018 7,644 10,018 7,644
680,083 791,402 10,018 7,644

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 370,983 545,202 190,859 365,831
Amounts falling due between one and two years:
Bank loans - 1-2 years 180,124 179,371 - -
Amounts falling due between two and five years:
Bank loans - 2-5 years 360,248 358,741 - -
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 129,693 245,646 - -

The bank loan is secured by charges over the freehold properties.

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 74,667 149,333
Between one and five years - 74,667
74,667 224,000

Company
Non-cancellable operating leases
31.7.24 31.7.23
£    £   
Within one year 74,667 149,333
Between one and five years - 74,667
74,667 224,000

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.7.24 31.7.23
£    £   
Bank loans 1,041,048 1,328,960

The bank loans are secured by charges over the freehold properties.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

22. PROVISIONS FOR LIABILITIES

Group Company
31.7.24 31.7.23 31.7.24 31.7.23
£    £    £    £   
Deferred tax 747,690 747,749 305,276 319,172

Other provisions 101,000 101,000 101,000 101,000

Aggregate amounts 848,690 848,749 406,276 420,172

Group
Deferred Other
tax provisions
£    £   
Balance at 1 August 2023 747,749 101,000
Credit to Income Statement during year (59 ) -
Balance at 31 July 2024 747,690 101,000

Company
Deferred Other
tax provisions
£    £   
Balance at 1 August 2023 319,172 101,000
Credit to Income Statement during year (13,896 ) -
Balance at 31 July 2024 305,276 101,000

Other provisions relates to a dilapidation provision, totalling £101,000 (2023: £101,000).

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
50,000 Ordinary £1 50,000 50,000

Ordinary shares each carry a right to vote, a right to a dividend and a right to a capital distribution in the event of a winding up or return of capital. Ordinary shares are not redeemable.

Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024

24. RESERVES

Group
Investment
Retained revaluation
earnings reserve Totals
£    £    £   

At 1 August 2023 10,725,787 1,064,826 11,790,613
Profit for the year 1,024,819 1,024,819
Dividends (700,000 ) (700,000 )
At 31 July 2024 11,050,606 1,064,826 12,115,432

Company
Retained
earnings
£   

At 1 August 2023 9,000,476
Profit for the year 1,619,493
Dividends (700,000 )
At 31 July 2024 9,919,969

Revaluation reserve

Revaluation reserve is the cumulative unrealised gains of revaluation of fixed assets, less provision for deferred taxation.

Profit and loss account

Includes all current and prior year retained profits and losses.

25. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mr T M Sanders
Balance outstanding at start of year - -
Amounts advanced 50,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,000 -

26. RELATED PARTY DISCLOSURES

The company was under the control of TM Sanders throughout the current and previous year. T M Sanders is the sole director and majority shareholder. During the year T M Sanders received dividends of £700,000 (2023: £NIL). At the year end £50,000 (2023: £NIL) was owed by T M Sanders and is included in debtors.

Jondo UK Limited is a company in which the director, T M Sanders, owns 50% of the share capital. During the year the company was invoiced £135,639 (2023: £104,213) by Sandhurst Autoprint Limited and Sandhurst Autoprint Limited invoiced the company £12,736 (2023: £205). At the year end £24,999 (2023: £24,999) was owed to Jondo UK Limited and is included in other creditors and £30,942 (2023: £12,292) was owed by Jondo UK Limited and is included in trade debtors.


Sandhurst Autoprint Limited (Registered number: 03443003)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 July 2024
During the year, a total of key management personnel compensation of £ 91,323 (2023 - £ 66,648 ) was paid.

Key management personnel is considered to be the directors by title within the group.

27. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T M Sanders.

28. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £169,720 (2023: £126,526). At year end there were £19,030 (2023: £15,491) of unpaid pensions.

29. SUBSIDIARIES



Name


Principal Activity


Class of shares
Nominal
value of
shares


Holding
Retained
earnings as at
31/07/2024
Freight Products
(UK) Limited
Manufacturing
and distribution

Ordinary

£5,000

100%

£2,153,145
Europlate Limited Dormant Ordinary £100 100% £0
SAP Group
Properties Limited
Renting office
space

Ordinary

£100

100%

£581,829
Mogo (UK) Limited Holding company Ordinary £1,002 100% £1,002

Newauto Limited
Manufacturing
and distribution

Ordinary

£1,002

100%

£934,926
West Heath Garage
Limited

Dormant

Ordinary

£1

100%

£0
West Heath Garage
(Farnborough)
Limited

Sale of new and
used cars


Ordinary


£204,500


100%


£(353,612)


The registered office of Freight Products (UK) Limited is Unit 2, 106 Hawley Lane, Farnborough, Hampshire, GU14 8JE.

The registered office of all other subsidiaries is Unit 9, Springlakes Estate, Deadbrook Lane, Aldershot, Hampshire, GU12 4UH.