| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2024 |
| for |
| Sedona Design and Development Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2024 |
| for |
| Sedona Design and Development Ltd |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Sedona Design and Development Ltd |
| Company Information |
| for the Year Ended 31 October 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 4 Cedar Park |
| Cobham Road |
| Ferndown Industrial Estate |
| Wimborne |
| Dorset |
| BH21 7SF |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Abridged Statement of Financial Position |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Abridged Statement of Financial Position - continued |
| 31 October 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| Sedona Design and Development Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Freehold property in the accounts comprises of land only and therefore is not depreciated. |
| Improvements to property were depreciated over six year period on a straight line basis from the commencement of the tenant lease. Some improvements were not expected to be material so as to affect the fair value of the properties, rather enabling them to be suitable for rental purposes. The director therefore considered it appropriate that the useful life of the improvements be restricted to the six year initial lease on the properties. |
| Upon formal valuation of the properties at the financial year end, amounts included within improvements to property where properties had not increased in value were written off to the profit and loss account as impairments. Where formal valuations showed an increase, the improvements to property amounts were considered as part of the valuation increase and consolidated with amounts held in investment property. |
| Investment property |
| Investment property is held at fair value. Changes in fair value are recognised through the profit and loss account and credited to non-distributable reserves. Unrealised gains are not subject to corporation tax but deferred tax is recognised through non-distributable reserves. |
| Reductions in property valuations are first rewound against revaluations already recognised within non-distributable reserves before recognising any losses to the profit and loss account. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Impairment of assets |
| Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1 November 2023 |
| Additions |
| Revaluations | ( |
) |
| Impairments | (5,526 | ) |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 112,160 (2023 - £ 0 ) which is not depreciated. |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 October 2024 is represented by: |
| Totals |
| £ |
| Valuation in 2024 | (15,582 | ) |
| Cost | 165,744 |
| 150,162 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2023 |
| Additions |
| Revaluations | 3,765 |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Fair value at 31 October 2024 is represented by: |
| £ |
| Valuation in 2022 | 55,000 |
| Valuation in 2024 | 3,765 |
| Cost | 476,235 |
| 535,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 531,235 | 286,434 |
| Investment property was valued on an open market basis on 8 October 2024 by WattsHolt Commercial Agents and Surveyors . |
| The director assessed the valuation of the investment property on 8th October 2024 with the assistance of qualified professionals in the local commercial property market and an official report from WattsHolt Commercial Agents and Surveyors concluded that the open market valuation be revised up to £535,000. Values previously held within improvements to property have been considered within this revaluation. |
| Sedona Design and Development Ltd (Registered number: 01076890) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 6. | OTHER FINANCIAL COMMITMENTS |
| There were no financial commitments, contingencies or guarantees made on behalf of the directors at the financial year end. |
| 7. | OFF-BALANCE SHEET ARRANGEMENTS |
| There were no off-balance sheet arrangements at the financial year end. |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| There were no overdrawn balances with directors at the financial year end (2023 - £Nil). |
| Interest was charged to the company on the credit balance of the loan at a rate of 4% per annum above the Bank of England base rate to 31 October 2024. This totalled £22 (2023 - £930) in the financial year. The interest is shown in the profit and loss account and held in accruals on the balance sheet. The loan is unsecured and repayable on demand. |
| 9. | POST BALANCE SHEET EVENTS |
| There were no post balance sheet events. |
| 10. | ULTIMATE CONTROLLING PARTY |
| On 22nd October 2024, the directors and shareholders, Mr A G Walker and Mrs J Walker each agreed to transfer all of their beneficial interest of the company's share capital to themselves to hold as trustees of "The Anthony and June Discretionary Settlement 2024". As such, they remain as Persons of Significant Control of the company, as reported at Companies House. |