Sanctum On The Green Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07115900 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Sanctum On The Green Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M N J Fuller

SECRETARY:

A Leyshon

REGISTERED OFFICE:

Bridle House

36 Bridle Lane

London

W1F 9BZ

REGISTERED NUMBER:

07115900 (England and Wales)

FIXED ASSETS

Tangible assets

4

221,589

315,920

CURRENT ASSETS

Stocks

-

4,293

Debtors

5

85,236

237,520

85,236

241,813

CREDITORS

Amounts falling due within one year

6

3,230,590

3,389,942

NET CURRENT LIABILITIES

(3,145,354

)

(3,148,129

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,923,765

)

(2,832,209

)

CREDITORS

Amounts falling due after more than
one year

7

-

45,972

NET LIABILITIES

(2,923,765

)

(2,878,181

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(2,923,865

)

(2,878,281

)

SHAREHOLDERS' FUNDS

(2,923,765

)

(2,878,181

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 September 2018 and were signed by:

M N J Fuller - Director

1.	STATUTORY INFORMATION

Sanctum On The Green Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the net sales of goods and services derived from ordinary activities,

excluding value added tax.

Tangible fixed assets

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

Tangible Assets are stated at cost less accumulated depreciation.

Lease & Leasehold improvements

10% on cost

Motor vehicles

25% on cost

Kitchen equipment

15% on cost

Computer equipment

20% on cost

Fixture and fittings

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Leases are classified as finance leases when they transfer substantially all the risks and

rewards of ownerships of the leased assets to the company. Other leases that do not

transfer substantially all the risks and rewards of ownership of the leased assets to the

company are classified as operating leases.

The company has entered into some hire purchase agreements for certain assets that

include the option to purchase the items at the end of the lease term for a nominal amount,

which is expected to be much lower than their fair value at that date. The hire purchase

agreements have been classified as finance leases as it is reasonably certain that the option

will be exercised.

Rights to use assets and corresponding obligations to lessors under finance leases are

recognised in the statement of financial position as assets and liabilities at the lower of fair

value of the assets and the present balance of the minimum lease payments, determined at

the inception of the lease.

Lease payments are apportioned between finance charges and reduction of outstanding

lease liabilities using the effective interest method, so as to produce a constant rate of

interest on the remaining balance of the liabilities. Finance charges are recognised in profit

or loss. Assets held under finance leases are included in property, plant and equipment and

are depreciated and reviewed for impairment in the same way as assets owned outright.

Payments received under operating leases are recognised as income over lease term on a

straight-line basis.

Going concern

The company's liabilities exceed its assets by £2,923,765 (2016: £2,878,181). The company

depends on the continuing financial support of its parent, associated companies and a

director of the partner company who has confirmed their financial support of the company

and their ability to do so for the foreseeable future. For this reason the financial statements

have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 17 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2017

29,685

1,103,264

1,132,949

Additions

-

308

At 31 December 2017

29,685

1,103,572

1,133,257

DEPRECIATION

At 1 January 2017

19,791

797,238

817,029

Charge for year

2,968

91,671

94,639

At 31 December 2017

22,759

888,909

911,668

NET BOOK VALUE

At 31 December 2017

6,926

214,663

221,589

At 31 December 2016

9,894

306,026

315,920

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Trade debtors

59,110

157,249

Other debtors

26,126

80,271

85,236

237,520

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Bank loans and overdrafts

7,599

1,239

Trade creditors

165,544

127,234

Amounts owed to group undertakings

2,664,373

2,795,571

Taxation and social security

52,284

82,369

Other creditors

340,790

383,529

3,230,590

3,389,942

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.17

31.12.16

£

Other creditors

-

45,972

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

Alfandari Private Equities Ltd

30,324

76,299

The following securities apply to the finance lease of £30,324:

Date

Name

Amount

Description

06/10/2016

Alfandari
Private
Equities
Limited