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Filleted
Registration number: 06997963

Sancler 3 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Sancler 3 Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sancler 3 Ltd

Company Information

Directors

Mr P Bond

Mr S C Kirkwood

Registered office

Globe House
Market Street
Laugharne
Carmarthen
SA33 4SA

 

Sancler 3 Ltd

(Registration number: 06997963)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,406

3,800

Current assets

 

Stocks

5

4,670,000

3,471,978

Debtors

6

2,184,508

2,030,889

Cash at bank and in hand

 

51,236

5,791

 

6,905,744

5,508,658

Creditors: Amounts falling due within one year

7

(6,340,082)

(5,046,796)

Net current assets

 

565,662

461,862

Net assets

 

567,068

465,662

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

566,968

465,562

Shareholders' funds

 

567,068

465,662

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

Mr P Bond
Director

Mr S C Kirkwood
Director

 
     
 

Sancler 3 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Globe House
Market Street
Laugharne
Carmarthen
SA33 4SA

These financial statements were authorised for issue by the Board on 16 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sancler 3 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

at variable rates on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sancler 3 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

22,578

4,094

26,672

At 31 March 2025

22,578

4,094

26,672

Depreciation

At 1 April 2024

18,778

4,094

22,872

Charge for the year

2,394

-

2,394

At 31 March 2025

21,172

4,094

25,266

Carrying amount

At 31 March 2025

1,406

-

1,406

At 31 March 2024

3,800

-

3,800

5

Stocks

2025
£

2024
£

Other inventories

4,670,000

3,471,978

 

Sancler 3 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

22,327

22,327

Amounts owed by related parties

9

2,014,501

1,894,501

Prepayments

 

52,885

9,585

Other debtors

 

94,795

104,476

   

2,184,508

2,030,889

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

10,145

61,686

Amounts owed to related parties

9

6,326,903

4,981,816

Other creditors

 

3,034

3,294

 

6,340,082

5,046,796

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Sancler 3 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Summary of transactions with other related parties

Salem Construction Ltd is considered to be a related party of the entity by virtue of being under the common control of the directors. As at the balance sheet date the entity owed Salem Construction Ltd £9,949 (2023: £7,963).

Salem Construction is considered to be a related party of the entity by virtue of being under the common control. As at the balance sheet date the entity owed Salem Construction £4,310 (2023: £3,968).

Island House Restoration Ltd is considered to be a related party of the entity by virtue of being under the common control of the directors. As at the balance sheet date Island House Restoration Ltd owed the entity £1,880,000 (2023 : £1,550,000)

Globe House Ltd is considered to be a related party of the entity by virtue of being under the common control of the directors. As at the balance sheet date Globe House Ltd owed the entity £14,501 (2023 : £14,500)