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Unaudited Financial Statements |
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for the Year Ended 5 April 2018 |
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for |
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Ian C. Sandbach Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 5 April 2018 |
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for |
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Ian C. Sandbach Limited |
Ian C. Sandbach Limited (Registered number: 00612660) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2018 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Ian C. Sandbach Limited |
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Company Information |
for the Year Ended 5 April 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Ian C. Sandbach Limited (Registered number: 00612660) |
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Statement of Financial Position |
5 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Ian C. Sandbach Limited (Registered number: 00612660) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2018 |
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1. | STATUTORY INFORMATION |
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Ian C. Sandbach Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements cover the company as an individual entity, have been prepared under the |
historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry on |
business as a going concern, which the directors consider appropriate having regard to the company's |
current and expected performance. |
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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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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
The investment property is revalued annually to open market value. Surpluses or deficits are transferred |
to the investment revaluation reserve except that a deficit, where it is expected to be permanent and |
which is in excess of any previously recognised surplus over cost, or the reversal of such a deficit is |
charged (or credited) to the profit and loss account. |
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Depreciation is not provided in respect of the freehold investment property. The directors consider that |
this accounting policy, which represents a departure from the statutory accounting rules, is necessary to |
provide a true and fair view as required under SSAP 19 Accounting for Investment Properties. The |
financial effect of the departure from statutory accounting rules is shown in note 7 to the financial |
statements. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in |
profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value |
with changes recognised in profit or loss. |
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Ian C. Sandbach Limited (Registered number: 00612660) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2018 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax if applicable. 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 statement of financial position date. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 6 April 2017 |
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Disposals | ( |
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At 5 April 2018 |
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DEPRECIATION |
At 6 April 2017 |
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Eliminated on disposal | ( |
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At 5 April 2018 |
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NET BOOK VALUE |
At 5 April 2018 |
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At 5 April 2017 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 6 April 2017 |
and 5 April 2018 |
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NET BOOK VALUE |
At 5 April 2018 |
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At 5 April 2017 |
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The directors have considered the value of the properties, and the value shown in the accounts of |
£440,000 is believed to reflect the true value of the properties. |
Ian C. Sandbach Limited (Registered number: 00612660) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Taxation and social security |
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Other creditors |
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