Sandpiper Insurance Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03935931 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Sandpiper Insurance Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M D Howes

SECRETARY:

Miss LA Hall

REGISTERED OFFICE:

80 Bishopsteighton

Shoeburyness

Southend on Sea

Essex

SS3 8AS

REGISTERED NUMBER:

03935931 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

8,502

Tangible assets

4

2,175

CURRENT ASSETS

3,328

Stocks

-

5,100

Debtors

5

20,670

126

Cash at bank

7,346

8,554

28,016

CREDITORS

29,514

Amounts falling due within one year

6

47,085

(20,960

)

NET CURRENT LIABILITIES

(19,069

)

(12,458

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,894

)

CAPITAL AND RESERVES

100

Called up share capital

100

(12,558

)

Retained earnings

(16,994

)

(12,458

)

SHAREHOLDERS' FUNDS

(16,894

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 January 2021 and were signed by:

M D Howes - Director

1.	STATUTORY INFORMATION

Sandpiper Insurance Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 etc

-

25% on reducing balance and 20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

23,342

Disposals

(5,602

)

At 31 March 2020

17,740

DEPRECIATION

At 1 April 2019

14,840

Charge for year

2,126

Eliminated on disposal

(1,401

)

At 31 March 2020

15,565

NET BOOK VALUE

At 31 March 2020

2,175

At 31 March 2019

8,502

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

20,670

5,100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

9,479

7,706

Taxation and social security

27,843

19,865

Other creditors

9,763

1,943

47,085

29,514

7.	POST BALANCE SHEET EVENTS

There were no post balance sheet events to be brought to the attention of shareholders and third parties.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M D Howes.

9.	GOING CONCERN

The accounts have been prepared on a going concern basis as the director is committed to supporting the company financially for a period of at least twelve months.