Sondale Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07798549

SONDALE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

SONDALE LIMITED

BALANCE SHEET

31 March 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	4		1,349,629	1,320,589

CURRENT ASSETS

Debtors	5	402,225	29,233
Cash at bank and in hand		8,180	158,999
		----------	----------
		410,405	188,232

CREDITORS: amounts falling due within one year	6	( 318,672)		( 317,535)
		----------		----------
NET CURRENT ASSETS/(LIABILITIES)			91,733	( 129,303)
			-------------	-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,441,362	1,191,286

CREDITORS: amounts falling due after more than one year	7		( 1,025,000)	( 717,500)

PROVISIONS

Taxation including deferred tax	( 74,740)	( 74,740)
	-------------	-------------
NET ASSETS	341,622	399,046
	-------------	-------------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	341,620	399,044
	----------	----------
SHAREHOLDERS FUNDS	341,622	399,046
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SONDALE LIMITED

BALANCE SHEET (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 18 June 2026 , and are signed on behalf of the board by:

Mr J Oestreicher

Director

Company registration number: 07798549

SONDALE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Fountayne Road, London, N16 7EA, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

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. Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows: (i) Property valuation The valuation of the company's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions. (ii) Trade and other debtors Management uses details of the age of trade and other debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value.

Turnover

The Turnover of the Company is represented by Rents and Charges receivable in respect of its investment properties.

Investment properties

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and - No depreciation is provided in respect of investment properties applying the fair value model. This treatment, as regards the company's investment properties, may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a 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. Debt instruments are subsequently measured at amortised cost.

4. TANGIBLE ASSETS

	Freehold property
	£
Fair value
At 1 April 2024	1,320,589
Additions	29,040
	-------------
At 31 March 2025	1,349,629
	-------------
Carrying amount
At 31 March 2025	1,349,629
	-------------
At 31 March 2024	1,320,589
	-------------

The historical cost of the Freehold Properties is £909,758 (2024: £880,718). Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition.

5. DEBTORS

	2025	2024
	£	£
Trade debtors	18,060	13,460
Other debtors	384,165	15,773
	----------	---------
	402,225	29,233
	----------	---------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	600	600
Amounts owed to group undertakings	305,272	304,135
Other creditors	12,800	12,800
	----------	----------
	318,672	317,535
	----------	----------

7. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,025,000	717,500
	-------------	----------

The Bank loan is secured by a first legal charge over the Company's Freehold Investment Property.

8. RELATED PARTY TRANSACTIONS

Included in creditors is £305,272 due to the parent company Consort Property Limited and £7,000 due to companies with directors in common.

9. PARENT COMPANY AND CONTROLLING PARTY

The ultimate parent company is Consort Property Limited, a company registered in England and Wales