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Company registration number: 03700799
SANDHILL HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2024
SANDHILL HOMES LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
SANDHILL HOMES LIMITED
Directors report
Year ended 31 October 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2024.
Directors
The directors who served the company during the year were as follows:
Mr D. J. Cooper
Mr N. D. Cooper
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 March 2025 and signed on behalf of the board by:
Mr D. J. Cooper
Director
SANDHILL HOMES LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sandhill Homes Limited
Year ended 31 October 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
R M F Pola FCA
Jenemi Associates Limited
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
27 March 2025
SANDHILL HOMES LIMITED
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 80,009 102,395
Investments 6 160,100 160,100
_______ _______
240,109 262,495
Current assets
Stocks 12,516,897 7,535,248
Debtors 7 491,650 513,398
Cash at bank and in hand 2,375,726 2,440,883
_______ _______
15,384,273 10,489,529
Creditors: amounts falling due
within one year 8 ( 12,741,790) ( 4,004,110)
_______ _______
Net current assets 2,642,483 6,485,419
_______ _______
Total assets less current liabilities 2,882,592 6,747,914
Creditors: amounts falling due
after more than one year 9 ( 1,107,434) ( 4,963,471)
Provisions for liabilities 10 ( 15,202) ( 19,455)
_______ _______
Net assets 1,759,956 1,764,988
_______ _______
Capital and reserves
Called up share capital 12 25,000 25,000
Revaluation reserve 160,000 160,000
Profit and loss account 1,574,956 1,579,988
_______ _______
Shareholders funds 1,759,956 1,764,988
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr D. J. Cooper
Director
Company registration number: 03700799
SANDHILL HOMES LIMITED
Notes to the financial statements
Year ended 31 October 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
3. Loss/profit before taxation
Loss/profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 22,386 29,092
_______ _______
4. Tax on loss/profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 3,568 8,485
Adjustments in respect of previous periods 1,233 ( 88)
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 4,253) ( 5,528)
_______ _______
Tax on loss/profit 548 2,869
_______ _______
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 November 2023 and 31 October 2024 156,895 120,850 277,745
_______ _______ _______
Depreciation
At 1 November 2023 124,765 50,585 175,350
Charge for the year 4,820 17,566 22,386
_______ _______ _______
At 31 October 2024 129,585 68,151 197,736
_______ _______ _______
Carrying amount
At 31 October 2024 27,310 52,699 80,009
_______ _______ _______
At 31 October 2023 32,130 70,265 102,395
_______ _______ _______
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 October 2024 48,946
_______
At 31 October 2023 65,261
_______
6. Investments
Shares in group undertakings Other investments other than loans Total
£ £ £
Cost
At 1 November 2023 and 31 October 2024 100 160,000 160,100
_______ _______ _______
Impairment
At 1 November 2023 and 31 October 2024 - - -
_______ _______ _______
Carrying amount
At 31 October 2024 100 160,000 160,100
_______ _______ _______
At 31 October 2023 100 160,000 160,100
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 190,579 265,200
Other debtors 301,071 248,198
_______ _______
491,650 513,398
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 717,392 166,042
Amounts owed to group undertakings 8,974,487 844,858
Corporation tax 3,568 8,485
Social security and other taxes 10,301 4,341
Other creditors 3,036,042 2,980,384
_______ _______
12,741,790 4,004,110
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 607,434 4,305,000
Other creditors 500,000 658,471
_______ _______
1,107,434 4,963,471
_______ _______
10. Provisions
Deferred tax (note 11) Total
£ £
At 1 November 2023 19,455 19,455
Additions ( 4,253) ( 4,253)
_______ _______
At 31 October 2024 15,202 15,202
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 10) 15,202 19,455
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 15,202 19,455
_______ _______
12. Called up share capital
Authorised share capital
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 25,000 25,000 25,000 25,000
_______ _______ _______ _______
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 25,000 25,000 25,000 25,000
_______ _______ _______ _______