2 2 Sandgate Developments Limited 05088863 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the operation of a glamping site and the manufacture of glamping pods. Digita Accounts Production Advanced 6.30.9574.0 true true 05088863 2024-04-01 2025-03-31 05088863 2025-03-31 05088863 core:CurrentFinancialInstruments 2025-03-31 05088863 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 05088863 core:Non-currentFinancialInstruments 2025-03-31 05088863 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 05088863 core:FurnitureFittings 2025-03-31 05088863 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 05088863 core:MotorVehicles 2025-03-31 05088863 core:OfficeEquipment 2025-03-31 05088863 core:PlantMachinery 2025-03-31 05088863 1 2025-03-31 05088863 bus:SmallEntities 2024-04-01 2025-03-31 05088863 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 05088863 bus:FilletedAccounts 2024-04-01 2025-03-31 05088863 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05088863 bus:RegisteredOffice 2024-04-01 2025-03-31 05088863 bus:Director2 2024-04-01 2025-03-31 05088863 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05088863 core:FurnitureFittings 2024-04-01 2025-03-31 05088863 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 05088863 core:LandBuildings 2024-04-01 2025-03-31 05088863 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05088863 core:MotorVehicles 2024-04-01 2025-03-31 05088863 core:OfficeEquipment 2024-04-01 2025-03-31 05088863 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 05088863 core:PlantMachinery 2024-04-01 2025-03-31 05088863 core:Vehicles 2024-04-01 2025-03-31 05088863 countries:EnglandWales 2024-04-01 2025-03-31 05088863 1 2024-04-01 2025-03-31 05088863 2024-03-31 05088863 core:FurnitureFittings 2024-03-31 05088863 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 05088863 core:MotorVehicles 2024-03-31 05088863 core:OfficeEquipment 2024-03-31 05088863 core:PlantMachinery 2024-03-31 05088863 1 2024-03-31 05088863 2023-04-01 2024-03-31 05088863 2024-03-31 05088863 core:CurrentFinancialInstruments 2024-03-31 05088863 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05088863 core:Non-currentFinancialInstruments 2024-03-31 05088863 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05088863 core:FurnitureFittings 2024-03-31 05088863 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 05088863 core:MotorVehicles 2024-03-31 05088863 core:OfficeEquipment 2024-03-31 05088863 core:PlantMachinery 2024-03-31 05088863 1 2024-03-31 05088863 1 2023-04-01 2024-03-31 05088863 1 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 05088863

Sandgate Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Sandgate Developments Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Sandgate Developments Limited

(Registration number: 05088863)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

534,587

551,017

Current assets

 

Debtors

5

579

246

Cash at bank and in hand

 

1,194

1,366

 

1,773

1,612

Creditors: Amounts falling due within one year

6

(775,529)

(762,866)

Net current liabilities

 

(773,756)

(761,254)

Total assets less current liabilities

 

(239,169)

(210,237)

Creditors: Amounts falling due after more than one year

6

(18,375)

(21,584)

Net liabilities

 

(257,544)

(231,821)

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

(257,548)

(231,825)

Shareholders' deficit

 

(257,544)

(231,821)

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 


Mr M Vanstone
Director

 

Sandgate Developments Limited

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:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is the operation of a glamping site and the manufacture of glamping pods.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Sandgate Developments Limited

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

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Land and buildings

No depreciation

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Glamping Park

4% straight line

Motor vehicles

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Sandgate Developments Limited

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

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

 

Sandgate Developments Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Glamping
park
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

300,000

10,777

18,058

272,632

9,234

610,701

Additions

-

-

5,590

-

-

5,590

Disposals

-

-

-

(9,851)

-

(9,851)

At 31 March 2025

300,000

10,777

23,648

262,781

9,234

606,440

Depreciation

At 1 April 2024

-

6,750

11,951

32,397

8,586

59,684

Charge for the year

-

604

1,754

10,511

163

13,032

Eliminated on disposal

-

-

-

(863)

-

(863)

At 31 March 2025

-

7,354

13,705

42,045

8,749

71,853

Carrying amount

At 31 March 2025

300,000

3,423

9,943

220,736

485

534,587

At 31 March 2024

300,000

4,027

6,107

240,235

648

551,017

Included within the net book value of land and buildings above is £300,000 (2024 - £300,000) in respect of freehold land and buildings.
 

5

Debtors

2025
£

2024
£

Other debtors

512

181

Prepayments

67

65

579

246

 

Sandgate Developments Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

3,500

3,500

Accruals and deferred income

 

1,925

2,450

Other creditors

 

770,104

756,916

 

775,529

762,866

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

18,375

21,584

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Sandgate Developments Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

18,375

21,584

Current loans and borrowings

2025
£

2024
£

Other borrowings

3,500

3,500

9

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Directors

(756,916)

13,020

(26,208)

(770,104)

         
       

 

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors

(499,562)

2,387

(259,741)

(756,916)