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Financial Statements for the Year Ended 30 April 2020 |
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The Sanderum Centre Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 April 2020 |
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for |
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The Sanderum Centre Limited |
The Sanderum Centre Limited (Registered number: 01393544) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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The Sanderum Centre Limited |
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Company Information |
for the Year Ended 30 April 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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The Sanderum Centre Limited (Registered number: 01393544) |
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Balance Sheet |
30 April 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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The Sanderum Centre Limited (Registered number: 01393544) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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The Sanderum Centre Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
The Sanderum Centre Limited (Registered number: 01393544) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
All fixed assets are initially recorded at cost. |
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Freehold property developments in progress are recorded at cost until all building work is complete, at which point it will follow the treatment as described. |
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Freehold properties are revalued on a periodic basis by the directors based on their estimates and judgements. Any aggregate surplus or deficit arising in changes from previous values are transferred to the revaluation reserve. The freehold properties were last revalued on transition to FRS102 in 2017. |
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The properties are not held for consumption but for the purpose of trade, and the directors consider that to depreciate them would not give a true and fair view. This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2008), but is a departure from the requirement of the Companies Act 2006, which requires all tangible fixed assets to be depreciated. |
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Impairment of assets |
At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2019 |
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Additions |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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The Sanderum Centre Limited (Registered number: 01393544) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans repayable in more than 5 years | 1,040,008 | 76,500 |
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8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2019 |
and 30 April 2020 |
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9. | RELATED PARTY DISCLOSURES |
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Included within creditors due after more than one year are loans from the Michael Boughton Interest in Possession Settlement, Richard Boughton Interest in Possession Settlement, Zest Ventures Limited totalling £1,127,500 (2019: £512,500). Mr M A J Boughton and Mr R A Boughton are trustees of the trusts and directors of the limited Company. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors by virtue of their shareholding . |