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REGISTERED NUMBER: 05092192 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SANDRINGHAM GARDENS LTD

SANDRINGHAM GARDENS LTD (REGISTERED NUMBER: 05092192)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


SANDRINGHAM GARDENS LTD (REGISTERED NUMBER: 05092192)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 3,014,253 3,014,253

CURRENT ASSETS
Debtors 5 3,051 3,190
Cash at bank 12,800 31,764
15,851 34,954
CREDITORS
Amounts falling due within one year 6 320,417 370,474
NET CURRENT LIABILITIES (304,566 ) (335,520 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,709,687

2,678,733

CREDITORS
Amounts falling due after more than one year 7 (1,822,767 ) (1,822,767 )

PROVISIONS FOR LIABILITIES 8 (149,760 ) (149,760 )
NET ASSETS 737,160 706,206

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Fair value reserve 9 449,280 449,280
Retained earnings 237,880 206,926
737,160 706,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:



Mr D A Floyd - Director


SANDRINGHAM GARDENS LTD (REGISTERED NUMBER: 05092192)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Sandringham Gardens Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05092192

Registered office: Unit 8, Aaron House
Forest Road, Hainault Business Park
Ilford
Essex
IG6 3JP

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.


SANDRINGHAM GARDENS LTD (REGISTERED NUMBER: 05092192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 3,014,253
NET BOOK VALUE
At 31 October 2024 3,014,253
At 31 October 2023 3,014,253

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 347,185
Valuation in 2022 251,855
Cost 2,415,213
3,014,253

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

2024 2023
£    £   
Cost 2,415,213 2,415,213

SANDRINGHAM GARDENS LTD (REGISTERED NUMBER: 05092192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. INVESTMENT PROPERTY - continued

The director considers that the market value of the properties as at the year-end to be as stated in the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,051 3,190

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 608 161,121
Taxation and social security 10,318 8,324
Other creditors 309,491 201,029
320,417 370,474

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,822,767 1,822,767

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,822,767 1,822,767

Bank loan is secured by way of fixed and floating charge on the property of the company and contains a negative pledge.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 149,760 149,760

Deferred
tax
£   
Balance at 1 November 2023 149,760
Balance at 31 October 2024 149,760

9. RESERVES
Fair
value
reserve
£   
At 1 November 2023
and 31 October 2024 449,280

10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £302,998 (2023: £27,435) due to a connected companies with common control. The loans are interest-free and repayable on demand.