Sandstorm International Limited - Abbreviated accounts 16.3
Sandstorm International Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| Sandstorm International Limited |
| Sandstorm International Limited (Registered number: SC243243) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Sandstorm International Limited |
| Company Information |
| for the Year Ended 31 March 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| BANKERS: |
| Sandstorm International Limited (Registered number: SC243243) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 31.3.16 | 31.3.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| 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) |
| Abbreviated Balance Sheet - continued |
| 31 March 2016 |
| The financial statements were approved by the Board of Directors on by: |
| Sandstorm International Limited (Registered number: SC243243) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective January 2015). |
| The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the |
| continuing support of the directors, investors and bankers. |
| 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 has taken the option |
| under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| 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. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Intangible fixed assets |
| Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off |
| the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is |
| only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Patents and licences - 5% on cost |
| Tangible fixed assets |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
| different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
| timing differences which result in a obligation to pay more (or less) tax at a future date, at an average tax rate that |
| are expected to apply when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
| commitment to sell the asset. |
| Deferred tax assets and liabilities are not discounted. |
| 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 are shown at the lower of cost and permanent diminution in value. The directors review the |
| realisable value of investments on an annual basis. |
| Sandstorm International Limited (Registered number: SC243243) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| AMORTISATION |
| At 1 April 2015 |
| Amortisation for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| and 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 | 1,105,438 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| Sandstorm International Limited (Registered number: SC243243) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Country of incorporation: Kenya |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary shares | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 137,302 | 138,203 |
| Loss for the year | (51,305 | ) | (62,046 | ) |
| The above information is extracted from the draft financial statements of Sandstorm Africa Limited as at 31st |
| March 2016. |
| 5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 6. | CREDITORS |
| Creditors include an amount of £ |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
| value: | £ | £ |
| Ordinary | £0.01 |
| (31.3.15 - |
| During the year, the following share transaction was recorded: |
| (1) Issue of 1,033,332 ordinary £0.01 shares at £0.30 per share. |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2016 and |
| 31 March 2015: |
| 31.3.16 | 31.3.15 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |