Sandstorm International Limited - Accounts to registrar (filleted) - small 18.2
Sandstorm International Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 April 2018 to 31 December 2018 |
for |
Sandstorm International Limited |
Sandstorm International Limited (Registered number: SC243243) |
Contents of the Financial Statements |
for the Period 1 April 2018 to 31 December 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Sandstorm International Limited |
Company Information |
for the Period 1 April 2018 to 31 December 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
BANKERS: |
25 St. Andrew Square |
Edinburgh |
EH2 1AF |
Sandstorm International Limited (Registered number: SC243243) |
Balance Sheet |
31 December 2018 |
31.12.18 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
(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. |
Sandstorm International Limited (Registered number: SC243243) |
Balance Sheet - continued |
31 December 2018 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
Sandstorm International Limited (Registered number: SC243243) |
Notes to the Financial Statements |
for the Period 1 April 2018 to 31 December 2018 |
1. | STATUTORY INFORMATION |
Sandstorm International Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the |
continuing support of the directors and investors. |
Preparation of consolidated financial statements |
The financial statements contain information about Sandstorm International Limited as an individual company |
and do not contain consolidated financial information as the parent of a group. The company is exempt under |
Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for |
estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised |
when goods are delivered and legal title has passed. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is |
provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of |
each asset on a straight-line basis over its expected useful life, as follows: |
Computer equipment - 5% per annum |
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, |
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at |
the end of its useful life. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net |
realisable value. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured |
at their settlement value. |
Sandstorm International Limited (Registered number: SC243243) |
Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 31 December 2018 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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 period 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. |
Investments |
Investments in subsidiaries are measured at cost less impairment. The directors undertake an impairment review |
at each balance sheet date. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle that obligation and a reliable estimate can be |
made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Sandstorm International Limited (Registered number: SC243243) |
Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 31 December 2018 |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 April 2018 |
and 31 December 2018 |
AMORTISATION |
At 1 April 2018 |
Amortisation for period |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 March 2018 |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2018 |
Additions |
At 31 December 2018 |
DEPRECIATION |
At 1 April 2018 |
Charge for period |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 March 2018 |
6. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 April 2018 |
and 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 March 2018 |
Sandstorm International Limited (Registered number: SC243243) |
Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 31 December 2018 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Plot L.R.No.3734/163,James Gichuru Road,Lavington, P.O Box 10719 - 00100, Nairobi |
Nature of business: |
% |
Class of shares: | holding |
31.12.18 |
£ | £ |
Aggregate capital and reserves |
Loss for the year | ( |
) | ( |
) |
The above information is extracted from the financial statements of Sandstorm Africa Limited as at 31 December |
2018. |
7. | STOCKS |
31.12.18 | 31.3.18 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.3.18 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.3.18 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
10. | PROVISIONS FOR LIABILITIES |
31.12.18 | 31.3.18 |
£ | £ |
Deferred tax | 72 | 159 |
Deferred |
tax |
£ |
Balance at 1 April 2018 |
Provided during period | ( |
) |
Balance at 31 December 2018 |
Sandstorm International Limited (Registered number: SC243243) |
Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 31 December 2018 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.3.18 |
value: | £ | £ |
Ordinary | £0.01 | 49,915 | 49,915 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31 December 2018 the company owed a director £10,000 (31.3.18: £nil). |
13. | RELATED PARTY DISCLOSURES |
Transactions with related parties during the period and balances outstanding at the year end were as follows: |
Related Party |
Transaction |
Amount |
Balance receivable from / (payable to) related party at 31.12.18 |
Balance receivable from / (payable to) related party at 31.3.18 |
£ | £ | £ |
Sandstorm Africa Ltd |
Investment |
Nil (31.3.18: Nil) |
1,105,438 |
1,105,438 |
Loans | 212,492 (31.3.18: 39,165) | 442,656 | 230,164 |
Former director |
Loans |
(15,000) (31.3.18: Nil) |
(15,000) |
Nil |
Sandstorm Africa Ltd is a wholly owned subsidiary of Sandstorm International Ltd. |
14. | ULTIMATE CONTROLLING PARTY |
There is no overall controlling interest. |