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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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FOR |
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SANDOWN PROPERTIES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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FOR |
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SANDOWN PROPERTIES LIMITED |
SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SANDOWN PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2 Jordan Street |
Knott Mill |
Manchester |
M15 4PY |
SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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BALANCE SHEET |
30 SEPTEMBER 2018 |
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30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Sandown Properties Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of |
service contracts where turnover is recognised when the company obtains the right to consideration. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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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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SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
Additions |
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At 30 September 2018 |
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AMORTISATION |
Amortisation for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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5. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2017 |
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Additions |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 30 September 2018 |
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DEPRECIATION |
Charge for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2017 |
and 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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The director considers that cost fairly reflects current market valuation. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Directors' loan accounts | 75,459 | 39,608 |
S455 tax recoverable |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Corporation Tax |
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S455 tax payable | 13,539 | - |
Social security and other taxes |
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Other creditors |
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Accrued expenses |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Mortgage | 140,270 | 140,265 |
Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Mortgage | 140,270 | 140,265 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.9.18 | 30.9.17 |
£ | £ |
Mortgage |
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The mortgage is secured by way of a legal charge over the freehold property to which it relates dated 13 April |
2006. |
SANDOWN PROPERTIES LIMITED (REGISTERED NUMBER: 05554981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 September 2018 and |
30 September 2017: |
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30.9.18 | 30.9.17 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the director Mr R I Tuke by virtue of his shareholding. |