Registration number: 04856410

Sandows Garage Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Sandows Garage Limited

Company Information

Directors

Mr W P Sandow Mr S P Sandow Mr M P Sandow

Company secretary

Mr S P Sandow

Registered office

Rose-an-Grouse Canonstown Hayle Cornwall TR27 6JN

Accountants

D.J. Reynolds & Co. Chartered Accountants15 Alverton Street Penzance Cornwall TR18 2QP

Sandows Garage Limited

(Registration number: 04856410)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	355,138	221,217
Current assets
Stocks	5	12,069	7,321
Debtors	6	23,059	20,988
Cash at bank and in hand		9,333	2,866
		44,461	31,175
Creditors: Amounts falling due within one year	7	(50,253)	(56,068)
Net current liabilities		(5,792)	(24,893)
Total assets less current liabilities		349,346	196,324
Creditors: Amounts falling due after more than one year	7	(60,267)	(31,093)
Net assets		289,079	165,231
Capital and reserves
Called up share capital	8	200	200
Revaluation reserve		277,825	145,998
Retained earnings		11,054	19,033
Shareholders' funds		289,079	165,231

For the financial year ending 31 December 2024 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been 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 17 September 2025 and signed on its behalf by:
 

Sandows Garage Limited

(Registration number: 04856410)
Balance Sheet as at 31 December 2024

......................................... Mr S P Sandow Company secretary and director

Sandows Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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:
Rose-an-Grouse
Canonstown
Hayle
Cornwall
TR27 6JN

These financial statements were authorised for issue by the Board on 17 September 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.

The presentational currency is pounds sterling £.

Going concern

For the year ended 31 December 2024 the company made a small loss. The company is financed by a loan from the directors. There are no terms of repayment, interest or security agreed on the director's loan account. The directors have confirmed their willingness not to withdraw the loan until such time as the company is able to make repayments and continue to meet its overheads and other liabilities.

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

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.

Sandows Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

After initial recognition, freehold property is carried at revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

Depreciation

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

Asset class	Depreciation method and rate
Freehold land	No depreciation provided
Freehold property	2% straight line
Plant and machinery	10% straight line
Vehicles	20% straight line
Office equipment	33% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Sandows Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	247,206	586	63,866	311,658
Revaluations	98,942	-	-	98,942
Additions	-	-	5,725	5,725
At 31 December 2024	346,148	586	69,591	416,325
Depreciation
At 1 January 2024	32,885	420	57,136	90,441
Charge for the year	2,410	96	1,125	3,631
Eliminated on revaluation	(32,885)	-	-	(32,885)
At 31 December 2024	2,410	516	58,261	61,187
Carrying amount
At 31 December 2024	343,738	70	11,330	355,138
At 31 December 2023	214,321	166	6,730	221,217

Included within the net book value of land and buildings above is £343,738 (2023 - £214,321) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold Property was revalued on 31 December 2024. An independent valuer was not involved.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £101,207 (2023 - £101,207).

Sandows Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

	2024 £	2023 £
Work in progress	3,500	-
Stock of parts	8,569	7,321
	12,069	7,321

6

Debtors

Current	2024 £	2023 £
Trade debtors	22,571	19,740
Prepayments	488	1,248
	23,059	20,988

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	16,849	18,084
Trade creditors		14,319	18,883
Taxation and social security		17,192	16,331
Accruals and deferred income		1,795	2,098
Other creditors		98	672
		50,253	56,068