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Financial Statements for the Year Ended 30 April 2021 |
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The Sanderum Centre Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 April 2021 |
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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 2021 |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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The Sanderum Centre Limited |
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Company Information |
for the Year Ended 30 April 2021 |
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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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Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
The Sanderum Centre Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Sanderum Centre Limited for the year ended 30 April 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of The Sanderum Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Sanderum Centre Limited and state those matters that we have agreed to state to the Board of Directors of The Sanderum Centre Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that The Sanderum Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Sanderum Centre Limited. You consider that The Sanderum Centre Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of The Sanderum Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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4 Cromwell Court |
New Street |
Aylesbury |
Buckinghamshire |
HP20 2PB |
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The Sanderum Centre Limited (Registered number: 01393544) |
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Balance Sheet |
30 April 2021 |
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2021 | 2020 |
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 ASSETS/(LIABILITIES) |
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( |
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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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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 | 9 |
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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 2021 |
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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. |
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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. |
The Sanderum Centre Limited (Registered number: 01393544) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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 2020 |
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Additions |
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At 30 April 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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5. | DEBTORS |
2021 | 2020 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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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 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
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 |
2021 | 2020 |
£ | £ |
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 | 2,556 | 1,040,008 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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Fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery. |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2020 |
and 30 April 2021 |
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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 2021 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, the company paid interest of £20,177 (2020: £13,149) to Zest Ventures Limited and total interest of £3,750 (2020: £8,125) to Michael Boughton Interest in Possession Settlement and Richard Boughton Interest in Possession Settlement. Mr M Boughton and Mr R Boughton are trustees of the trusts. |
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Included within creditors due after more than one year is a loan from Zest Ventures Limited for £1,127,500 (2020: £877,500 loan from Zest Ventures Limited and £250,000 loans from the Michael Boughton Interest in Possession Settlement and Richard Boughton Interest in Possession Settlement.) Mr M Boughton and Mr R Boughton control and are directors of Zest Ventures Ltd. |
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During the year, the company paid fees to APS Accountancy Ltd of £10,710 (2020: £7,553). £0 (2020: £618 was owed to the company and included in Trade creditors. Mr M Boughton and Mr R Boughton control APS Accountancy Ltd and Mr R Boughton is a director of APS Accountancy Ltd. |
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During the year, the company paid management and administration fees of £18,481 (2020: £24,545) to The Sanderum Partnership. At the year end £960 (2020: £6,204) was owed to the company and included in Trade creditors. Mr R Boughton and Mr R Boughton own and control The Sanderum Partnership. |
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During the year, the company received £45,406 (2020: £43,076) in administration and occupation charges from IPI Global Ltd. At the year end £4,703 (2020: £1,030) was due from the company and included in Trade debtors. Mr M Boughton and Mr R Boughton ultimately control and are directors of IPI Global Ltd. |
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During the year, the company received £56,069 (2020: £8,618) in administration and management fees from Zest Development Ltd. At the year end £188 (2020: £3,225) was due from the company and included in Trade debtors. Mr M Boughton and Mr R Boughton control and together with Ms C Cope are directors of Zest Development Ltd. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Mr M Boughton and Mr R Boughton by virtue of their shareholdings. |