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Company No: 11577018 (England and Wales)

SACKVILLE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

SACKVILLE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

SACKVILLE LIMITED

BALANCE SHEET

As at 31 August 2024
SACKVILLE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,273 298
Investment property 4 19,229,385 19,229,385
19,230,658 19,229,683
Current assets
Debtors 5 1,660,055 1,305,939
Cash at bank and in hand 10,786 18,575
1,670,841 1,324,514
Creditors: amounts falling due within one year 6 ( 9,136,512) ( 8,711,620)
Net current liabilities (7,465,671) (7,387,106)
Total assets less current liabilities 11,764,987 11,842,577
Creditors: amounts falling due after more than one year 7 ( 9,597,000) ( 9,981,000)
Provision for liabilities ( 5,667) ( 5,423)
Net assets 2,162,320 1,856,154
Capital and reserves
Called-up share capital 8 1,000 1,000
Profit and loss account 2,161,320 1,855,154
Total shareholder's funds 2,162,320 1,856,154

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sackville Limited (registered number: 11577018) were approved and authorised for issue by the Board of Directors on 16 May 2025. They were signed on its behalf by:

Mr R J Hooper
Director
SACKVILLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
SACKVILLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sackville Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Ocean House, 10, Kinterbury Street, Plymouth, Devon, PL1 2DG.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 September 2023 926 926
Additions 1,182 1,182
At 31 August 2024 2,108 2,108
Accumulated depreciation
At 01 September 2023 628 628
Charge for the financial year 207 207
At 31 August 2024 835 835
Net book value
At 31 August 2024 1,273 1,273
At 31 August 2023 298 298

4. Investment property

Investment property
£
Valuation
As at 01 September 2023 19,229,385
As at 31 August 2024 19,229,385

Valuation

The valuations of investment properties were made by Jones Lang Lasalle, Chartered Surveyors, on an open market basis in earlier years. Directors are satisfied that this is still an appropriate valuation. No depreciation is provided in respect of these properties.

5. Debtors

2024 2023
£ £
Trade debtors 0 5,000
Amounts owed by Group undertakings 1,567,199 1,176,962
Other debtors 92,856 123,977
1,660,055 1,305,939

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 384,000 384,000
Trade creditors 83,145 68,834
Amounts owed to Group undertakings 8,292,476 7,949,712
Taxation and social security 190,244 198,112
Other creditors 186,647 110,962
9,136,512 8,711,620

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 9,597,000 9,981,000

Bank loans are secured by way of fixed and floating charges over the freehold property of the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured £7,677,000 / repayable by instalments) 8,061,000 8,445,000

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares shares of £ 1.00 each 1,000 1,000

9. Ultimate controlling party

Parent Company:

Attlee Sinclair Ltd, incorporated in England and Wales.
Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3RP.

These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.