Sandal Castle Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02059324 (England and Wales)

Sandal Castle Properties Limited

Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D A Young BSC HONS AMICE

REGISTERED OFFICE:

Sandal Business Centre

Asdale Road

Wakefield

West Yorkshire

WF2 7JE

REGISTERED NUMBER:

02059324 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

7,431

9,950

CURRENT ASSETS

Debtors

5

19,774

24,920

Cash at bank

43,382

16,395

63,156

41,315

CREDITORS

Amounts falling due within one year

6

20,589

13,906

NET CURRENT ASSETS

42,567

27,409

TOTAL ASSETS LESS CURRENT LIABILITIES

49,998

37,359

PROVISIONS FOR LIABILITIES

1,413

1,891

NET ASSETS

48,585

35,468

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

48,485

35,368

SHAREHOLDERS' FUNDS

48,585

35,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 September 2021 and were signed by:

Mr D A Young BSC HONS AMICE - Director

1.	STATUTORY INFORMATION

Sandal Castle Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Turnover in respect of rents receivable is recognised on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Other Equipment

-

20% on cost

Office equipment

-

33% on cost and 15% on reducing balance

All fixed assets are initially recorded at cost.

Government grants - coronavirus

Grants received in relation to Business Rates Relief and the Job Retention Scheme are accounted for as they fall due and are included within other operating income.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Other

Office

machinery

Equipment

equipment

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

3,892

6,587

8,057

18,536

DEPRECIATION

At 1 January 2020

2,960

1,317

4,309

8,586

Charge for year

139

1,318

1,062

2,519

At 31 December 2020

3,099

2,635

5,371

11,105

NET BOOK VALUE

At 31 December 2020

793

3,952

2,686

7,431

At 31 December 2019

932

5,270

3,748

9,950

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

840

3,120

Amounts owed by related undertakings

16,400

19,400

Other debtors

2,400

2,400

Prepayments and accrued income

134

-

19,774

24,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2,915

85

Social security and other taxes

100

100

Wages control

1,723

2,158

VAT

5,841

3,233

Other creditors

148

110

Directors' current accounts

7,810

6,276

Accruals and deferred income

2,052

1,944

20,589

13,906

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100