Sand Hall Limited - Period Ending 2018-07-31

Registration number: 03400988

Sand Hall Limited

Unaudited Financial Statements

for the Year Ended 31 July 2018

Sand Hall Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Income and Retained Earnings	3
Balance Sheet	4 to 5
Notes to the Financial Statements	6 to 9

Sand Hall Limited

Company Information

Directors

EF Sanguinetti PJ Sanguinetti

Registered office

Sand Hall Wedmore Somerset BS28 4XF

Accountants

Four Fifty Partnership Chartered Accountants Bath Street Cheddar Somerset BS27 3AA

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sand Hall Limited
for the Year Ended 31 July 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sand Hall Limited for the year ended 31 July 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Sand Hall Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sand Hall Limited and state those matters that we have agreed to state to the Board of Directors of Sand Hall Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sand Hall Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sand Hall Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sand Hall Limited. You consider that Sand Hall Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Sand Hall 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 accounts.

......................................

Four Fifty Partnership
Chartered Accountants
Bath Street
Cheddar
Somerset
BS27 3AA

Date:.............................

Page 2

Sand Hall Limited

Profit and Loss Account and Statement of Retained Earnings
for the Year Ended 31 July 2018

	Note	2018 £	2017 £
Turnover		10,255	9,867
Cost of sales		(3,313)	(2,265)
Gross profit		6,942	7,602
Administrative expenses		(3,134)	(2,953)
Operating profit		3,808	4,649
Profit before tax		3,808	4,649
Taxation		(770)	(1,004)
Profit for the financial year		3,038	3,645
Retained earnings brought forward		17,030	13,386
Retained earnings carried forward		20,068	17,031

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 3

Sand Hall Limited

(Registration number: 03400988)
Balance Sheet as at 31 July 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	84,606	84,607
Current assets
Cash at bank and in hand		18,153	14,645
Creditors: Amounts falling due within one year	5	(2,659)	(2,189)
Net current assets		15,494	12,456
Net assets		100,100	97,063
Capital and reserves
Called up share capital		80,032	80,032
Profit and loss account		20,068	17,031
Total equity		100,100	97,063

For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 4

Sand Hall Limited

(Registration number: 03400988)
Balance Sheet as at 31 July 2018

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 December 2018 and signed on its behalf by:
 

......................................... EF Sanguinetti Director

The notes on pages 6 to 9 form an integral part of these financial statements.

Page 5

Sand Hall Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Page 6

Sand Hall Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

2	Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Straight line over 4 years
Motor vehicles	Straight line over 4 years

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2017 - 0).

Page 7

Sand Hall Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

4	Tangible assets

	Land and buildings £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 August 2017	84,606	1,196	552	86,354
At 31 July 2018	84,606	1,196	552	86,354
Depreciation
At 1 August 2017	-	1,196	551	1,747
Charge for the year	-	-	1	1
At 31 July 2018	-	1,196	552	1,748
Carrying amount
At 31 July 2018	84,606	-	-	84,606
At 31 July 2017	84,606	-	1	84,607

Included within the net book value of land and buildings above is £84,606 (2017 - £84,606) in respect of freehold land and buildings.
 

Page 8

Sand Hall Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

5

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Accruals	1,141	1,050
Other creditors	1,518	1,139
	2,659	2,189

6	Related party transactions

Summary of transactions with other related parties

P J Sanguinetti - Director
 The loan was at no point overdrawn, is interest free and repayable on demand.
Amount due to related party at the balance sheet date is £748 (2017: £135).
 

Page 9