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Company No: 01769361 (England and Wales)

# SANDRAIR INTERNATIONAL LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

SANDRAIR INTERNATIONAL LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

SANDRAIR INTERNATIONAL LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
SANDRAIR INTERNATIONAL LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 3,756 |  | 3,253
Tangible assets | 4 | 0 |  | 11
|  | 3,756 |  | 3,264
Current assets |  |  |  |
Debtors | 5 | 398,561 |  | 397,848
Cash at bank and in hand |  | 6,523 |  | 151
|  | 405,084 |  | 397,999
Creditors: amounts falling due within one year | 6 | ( 322,064) |  | ( 301,515)
Net current assets |  | 83,020 |  | 96,484
Total assets less current liabilities |  | 86,776 |  | 99,748
Net assets |  | 86,776 |  | 99,748
Capital and reserves |  |  |  |
Called-up share capital | 8 | 40,000 |  | 40,000
Profit and loss account |  | 46,776 |  | 59,748
Total shareholder's funds |  | 86,776 |  | 99,748

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Sandrair International Limited (registered number: 01769361) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M Ogden Director |

08 October 2025

SANDRAIR INTERNATIONAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
SANDRAIR INTERNATIONAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 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

Sandrair International 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 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### 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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 4 years straight line

##### 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 on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 4 years straight line
Plant and machinery | 4 years straight line
Fixtures and fittings | 4 years straight line
Computer equipment | 4 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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 8 |  | 7

#### 3. Intangible assets

| Computer software |  | Total
| £ |  | £
Cost/Valuation |  |  |
At 01 February 2024 | 26,720 |  | 26,720
Additions | 2,699 |  | 2,699
At 31 January 2025 | 29,419 |  | 29,419
Accumulated amortisation |  |  |
At 01 February 2024 | 23,467 |  | 23,467
Charge for the financial year | 2,196 |  | 2,196
At 31 January 2025 | 25,663 |  | 25,663
Net book value |  |  |
At 31 January 2025 | 3,756 |  | 3,756
At 31 January 2024 | 3,253 |  | 3,253

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 February 2024 | 37,304 |  | 4,595 |  | 5,162 |  | 3,347 |  | 50,408
At 31 January 2025 | 37,304 |  | 4,595 |  | 5,162 |  | 3,347 |  | 50,408
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 February 2024 | 37,304 |  | 4,595 |  | 5,162 |  | 3,336 |  | 50,397
Charge for the financial year | 0 |  | 0 |  | 0 |  | 11 |  | 11
At 31 January 2025 | 37,304 |  | 4,595 |  | 5,162 |  | 3,347 |  | 50,408
Net book value |  |  |  |  |  |  |  |  |
At 31 January 2025 | 0 |  | 0 |  | 0 |  | 0 |  | 0
At 31 January 2024 | 0 |  | 0 |  | 0 |  | 11 |  | 11

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 99,508 |  | 132,998
Prepayments | 8,327 |  | 7,142
Deferred tax asset | 275 |  | 271
VAT recoverable | 4,500 |  | 31,533
Other debtors | 285,951 |  | 225,904
| 398,561 |  | 397,848

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank overdrafts | 21,885 |  | 92,339
Trade creditors | 139,244 |  | 55,079
Amounts owed to group undertakings | 121,169 |  | 36,698
Accruals | 19,030 |  | 81,109
Taxation and social security | 19,918 |  | 28,305
Other creditors | 818 |  | 7,985
| 322,064 |  | 301,515

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | 271 |  | 233
Credited to the Profit and Loss Account | 4 |  | 38
At the end of financial year | 275 |  | 271

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | 275 |  | 271

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
40,000 Ordinary shares of £ 1.00 each | 40,000 |  | 40,000

#### 9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 25,291 |  | 41,649
between one and five years | 3,570 |  | 2,500
| 28,861 |  | 44,149

Other financial commitments

**Debenture**
On 13 May 2015 the company, together with Abingdon Freight Forwarding Agency Limited, M O Holdings Limited and Chain Supply Management Limited (each "a Chargor"), entered into a debenture in favour of Barclays Bank Plc ("the Bank") to secure all present and future liabilities and obligations of each Chargor to the Bank, whether actual or contingent and whether owed jointly or severally or in any other capacity. The assets of the Chargors in respect of which they granted to the Bank a fixed and floating charge to secure their respective liabilities and obligations.

**VAT**
The company is included in a group registration for VAT with its parent company. The members of the VAT group are jointly and severally liable for any amounts due and at 31 January 2025 the contingent liability in respect of this group registration was £42,411 (2024 £45,511).

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 818 |  | 672

#### 10. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Included within other debtors is a balance owed by companies with a common director. These balances are unsecured and interest free and repayable on demand with no fixed repayment terms. | 281,324 |  | 222,004
Included within creditors amounts owed to group undertakings is a balance due to the parent company. This balance is unsecured and interest free and repayable on demand with no fixed repayment terms. | 121,169 |  | 36,698
Include within trade debtors is a balance owed by companies with a common director. These balances are unsecured and interest free and repayable on demand with no fixed repayment terms. | 17,185 |  | 21,811
Include within trade creditors is a balance owed to companies with a common director. These balances are unsecured and interest free and repayable on demand with no fixed repayment terms. | 552 |  | 4,467