Sandridge Holdings Limited Company Accounts

SANDRIDGE HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 6388660

Sandridge Holdings Limited

Filleted Unaudited Financial Statements

31 December 2017

Sandridge Holdings Limited

Financial Statements

Year ended 31 December 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Sandridge Holdings Limited

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£	£

Fixed assets

Tangible assets	6	288,333	292,910
Investments	7	100	100
		---------	---------
		288,433	293,010

Current assets

Debtors	8	5,127	4,662
Cash at bank and in hand		79,117	54,390
		--------	--------
		84,244	59,052

Creditors: amounts falling due within one year	9	29,781		18,457
		--------		--------
Net current assets			54,463		40,595
			---------		---------
Total assets less current liabilities			342,896		333,605
			---------		---------
Net assets			342,896		333,605
			---------		---------

Capital and reserves

Called up share capital	10	200	200
Profit and loss account		342,696	333,405
		---------	---------
Shareholders funds		342,896	333,605
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2017 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Sandridge Holdings Limited

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 2 March 2018 , and are signed on behalf of the board by:

Mr M Hoyle - Director

Company registration number: 6388660

Sandridge Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 291 National Avenue, Hull, East Yorkshire, HU5 4JB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less, or to receive more tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Leasehold property	-	2% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2016: 4 ).

5. Tax on profit

Major components of tax expense

	2017	2016
	£	£

Current tax:

UK current tax expense	8,072	8,110
	-------	-------
Tax on profit	8,072	8,110
	-------	-------

6. Tangible assets

	Long leasehold property
	£
Cost
At 1 January 2017 and 31 December 2017	334,103
	---------
Depreciation
At 1 January 2017	41,193
Charge for the year	4,577
	---------
At 31 December 2017	45,770
	---------
Carrying amount
At 31 December 2017	288,333
	---------
At 31 December 2016	292,910
	---------

7. Investments

	Investments
	£
Cost
At 1 January 2017 and 31 December 2017	100
	----
Impairment
At 1 January 2017 and 31 December 2017	–
	----

Carrying amount
At 31 December 2017	100
	----
At 31 December 2016	100
	----

The company owns 100% of the ordinary share capital of Sandridge (Blinds & Curtains) Limited, incorporated in England. The principal activity of the company is that of the manufacture of blinds and curtains.

The results of this company for the last financial year were:

Capital and reserves - £122,901

Profit for the year - £37,326

8. Debtors

	2017	2016
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	4,000
Other debtors	5,127	662
	-------	-------
	5,127	4,662
	-------	-------

9. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	4,463	1,639
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,000	–
Corporation tax	8,072	8,110
Social security and other taxes	16	428
Other creditors	9,230	8,280
	--------	--------
	29,781	18,457
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 1 each	200	200	200	200
	----	----	----	----

11. Directors' advances, credits and guarantees

During the year there were no directors' advances, credits and guarantees.

12. Related party transactions

During the year, the company rented premises to its subsidiary company, Sandridge (Blinds & Curtains) Limited, for a commercial rent of £37,980 (2016 - £37,980). The amount outstanding from Sandridge (Blinds & Curtains) Limited at the balance sheet date was £nil (2016 - £nil). After the year end date, the company disposed of its 100% shareholding in Sandridge (Blinds & Curtains) Limited to a company in which the director Mr D Hoyle is also a director and shareholder.