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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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Henry Sanderson & Co Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2019 |
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for |
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Henry Sanderson & Co Limited |
Henry Sanderson & Co Limited (Registered number: 07026094) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Henry Sanderson & Co Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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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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Henry Sanderson & Co Limited (Registered number: 07026094) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Stocks |
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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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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve |
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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. |
Henry Sanderson & Co Limited (Registered number: 07026094) |
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Balance Sheet - continued |
31 March 2019 |
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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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Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | 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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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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Tangible fixed assets |
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The amount held in tangible assets relates to Fine Art - Fine Art is not depreciated. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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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. |
Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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1. | ACCOUNTING POLICIES - continued |
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Investments in subsidiaries and associates |
Fixed asset investments in subsidiaries and associates are carried at fair value at the date of |
valuation, with changes in fair value going through the profit and loss. |
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2. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
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COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Amortisation for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
HSH and |
EDC |
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COST OR VALUATION |
At 1 April 2018 |
and 31 March 2019 |
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PROVISIONS |
At 1 April 2018 |
and 31 March 2019 | 75,375 |
NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Cost or valuation at 31 March 2019 is represented by: |
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Shares in |
HSH and |
EDC |
£ |
Valuation in 2017 | 149,996 |
Cost | 112,879 |
262,875 |
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If subsidiaries and associations had not been revalued they would have been included at the |
following historical cost: |
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31.3.19 | 31.3.18 |
£ | £ |
Cost | 112,879 | 112,879 |
Aggregate provisions | (112,879 | ) | (112,879 | ) |
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Fixed asset investments were valued on the fair value basis on 31 March 2019 by the director based on share sales in 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Amounts owed by associates |
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Other debtors |
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Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended |
31 March 2019 and 31 March 2018: |
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31.3.19 | 31.3.18 |
£ | £ |
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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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All amounts owing from the director are repayable on demand. Interest is charged at 2.5% |
(2018: 2.5%) on amounts owed to the company. |
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
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T S Wilson |
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During the year T S Wilson was advanced £61,081 (2018: £45,218) by the company and T S |
Wilson repaid £59,236 (2018: £48,545) to the company. At the balance sheet date the |
director owes the company £19,655 (2018: £17,810). The amount is classified as a current |
debtor and is repayable on demand interest is charged at 2.5% (2018: 2.5%) on the money |
owed to the company. |
Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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8. | RELATED PARTY DISCLOSURES - continued |
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The Essential Design Company Limited |
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An associate company of Henry Sanderson & Co Limited. |
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During the year Henry Sanderson & Co Ltd lent The Essential Design Company Ltd £77,894 |
(2018: £73,350) and The Essential Design Company Ltd repaid £36,173 (2018: £50,890). |
At the year end The Essential Design company Limited owes the company £65,228 (2018: |
£23,507). The amount is classified as a current debtor and is repayable on demand, no |
interest is charged. |
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Henry Sanderson Homes Ltd |
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An associated company of Henry Sanderson & Co Ltd. |
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During the year Henry Sanderson Homes Ltd lent Henry Sanderson & Co Ltd £13,973 and |
Henry Sanderson & Co Ltd repaid £8,876. At the year end the company owes Henry |
Sandeson Homes Ltd £6,363 (2018: £1,266). The amount is classified as a current creditor |
and is repayable on demand, no interest is charged. |
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The Ship Limited. |
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A company in which T S Wilson is a director and shareholder. |
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During the year Henry Sanderson & Co Limited lent The Ship Limited money totalling |
£73,041 (2018: £19,545) and was repaid £90,739 (2018: £9,665) by the company. At the |
year end The Ship Limited is owed £8,018 (2018: The Ship Limited owes the company |
£9,680). The amount is classified as a current creditor / debtor and is repayable on demand, |
no interest is charged. |
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Barrie House Lettings Ltd |
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A company in which T S Wilson is a director and shareholder. |
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During the year Barrie House Lettings Ltd lent Henry Sanderson & Co Ltd £49,745 (2018: |
£28,500) and Henry Sanderson & Co Ltd repaid £18,353 (2018: £10,810). At the year end |
the company owes Barrie House Lettings Ltd £49,082 (2018: £17,690). The amount is |
classified as a current creditor and is repayable on demand, no interest is charged. |
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Satriale Food Ltd |
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A Company in which T S Wilson is a director and shareholder. |
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During the year the company advanced Henry Sanderson & Co Ltd £31,460 (2018: £2,640) |
and Henry Sanderson & Co Ltd repaid the company £33,339 (2018: £500). At the balance |
sheet date Henry Sanderson & Co Ltd owes the company £261 (2018: £2,140). The amount |
is classified as a current creditor and repayable on demand, no interest is charged. |
Henry Sanderson & Co Limited (Registered number: 07026094) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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9. | ULTIMATE CONTROLLING PARTY |
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Control is shared equally between Mr T S Wilson and Sphere Entertainment Ltd, due to |
equal share ownership. |