Sandhurst Court Limited
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Notes to the Accounts |
for the year ended 31 March 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover represents ground rent, locker rents, parking and cycle space rents receivable.
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Tangible fixed assets |
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No depreciation is provided on freehold land and buildings as the Directors are of the view that the value of the freehold interest in Sandhurst Court will not diminish.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Debtors include sums collected and held be Crabtree Property Management Ltd on behalf of the company.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Land and buildings |
£ |
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Cost |
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At 1 April 2019 |
110,000 |
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Additions |
54,000 |
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At 31 March 2020 |
164,000 |
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Depreciation |
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At 31 March 2020 |
- |
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Net book value |
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At 31 March 2020 |
164,000 |
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At 31 March 2019 |
110,000 |
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4 |
Debtors |
2020 |
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2019 |
£ |
£ |
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Trade debtors |
25,062 |
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27,276 |
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5 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Trade creditors |
106,996 |
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84,599 |
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Taxation and social security costs |
4,641 |
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24 |
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Other creditors |
2,515 |
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- |
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114,152 |
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84,623 |
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6 |
Revaluation reserve |
2020 |
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2019 |
£ |
£ |
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At 1 April 2019 |
110,000 |
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110,000 |
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At 31 March 2020 |
110,000 |
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110,000 |
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7 |
Other information |
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Sandhurst Court Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Marlborough House |
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298 Regents Park Road |
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London |
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N3 2UU |