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REGISTERED NUMBER: 04239097 (England and Wales)















SARN ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018






SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SARN ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2018







DIRECTORS: S H Howard
A J Howard





SECRETARY: S H Howard





REGISTERED OFFICE: Giggleswick
Speen Road
North Dean
High Wycombe
Buckinghamshire
HP14 4NL





REGISTERED NUMBER: 04239097 (England and Wales)

SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

BALANCE SHEET
30 APRIL 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,743 5,421
Investment property 5 518,800 457,147
523,543 462,568

CURRENT ASSETS
Stocks 1,389,117 966,906
Debtors 6 100,000 890,000
Cash at bank 446,747 423,492
1,935,864 2,280,398
CREDITORS
Amounts falling due within one year 7 (509,858 ) (939,939 )
NET CURRENT ASSETS 1,426,006 1,340,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,949,549

1,803,027

PROVISIONS FOR LIABILITIES (11,714 ) -
NET ASSETS 1,937,835 1,803,027

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings -
non distributable 49,939 -
Retained earnings 1,887,894 1,803,025
SHAREHOLDERS' FUNDS 1,937,835 1,803,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

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.

SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

BALANCE SHEET - continued
30 APRIL 2018


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 23 January 2019 and were signed on its
behalf by:





S H Howard - Director


SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018


1. STATUTORY INFORMATION

Sarn Enterprises Limited 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 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and
assumptions about the carrying values of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period, or in the period of the revision and future periods if the revision affects both
current and future periods.

Fair value measurement of investment property
The company carries its investment property at fair value, with changes in fair value being recognised
in profit or loss. The company uses a combination of open market valuations of similar properties
within the same geographical location and third party information either directly related to the
properties under ownership or that of similar properties in order to ascertain a fair value at the Balance
Sheet date. If considered significantly different to the value held in the Balance Sheet, the directors will
recognise the adjustment to fair value in profit or loss accordingly.

Turnover
Sale of properties are recognised on completion if a legally binding contract has been exchanged. All
deposits received for pre-sales are held as payments on account and are not recognised until the
above conditions are satisfied.

Rental and sundry income is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and equipment - 10% on cost

Investment property
Investment properties consist of land and buildings held for the purpose of earning rentals, capital
appreciation or both. They are initially recognised at cost plus any directly attributable expenditure and
are subsequently measured to fair value at each reporting date with the movement recognised
immediately in profit or loss.

SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2018


2. ACCOUNTING POLICIES - continued

Stocks
Long-term work in progress is valued at the amount of long-term contract costs incurred, net of
amounts transferred to cost of sales, after deducting foreseeable losses and payments on account not
matched with turnover.

Costs included relate to all direct expenditure as well as the costs associated with the purchase of
property.

Debtors
Trade and other debtors are measured at transaction price less any impairment unless the
arrangement constitutes a financing transaction in which case the transaction is measured at the
present value of the future receipts discounted at the prevailing market rate of interest . Loans are
initially measured at fair value and are subsequently measured at amortised cost using the effective
interest method less any impairment.

Cash at bank
Cash at bank in the balance sheet comprise cash at banks and in hand and short term deposits with
an original maturity date of three months or less.

Creditors
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a
financing transaction in which case the transaction is measured at the present value of future
payments discounted at the prevailing market rate of interest. Other financial liabilities are initially
measured at fair value net of their transaction costs. They are subsequently measured at amortised
cost using the effective interest method.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the
current or past reporting periods using tax rates that have been enacted or substantively enacted by
the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax
losses and other deferred tax assets are recognised only to the extent that it is probable that they will
be recovered against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the
reporting date that are expected to apply to the reversal of the timing difference.

Going concern
After reviewing the Company's forecasts and projections and taking into account the economic
conditions and possible changes in trading performance, the directors have a reasonable expectation
that the Company has adequate resources to continue in operational existence for the foreseeable
future. The Company therefore continues to adopt the going concern basis in preparing its financial
statements.

Employee benefits
Short term employee benefits, including holiday entitlement, other non-monetary benefits and
contributions to defined contribution plans are recognised as an expense in the period in which they
are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2018


4. TANGIBLE FIXED ASSETS
Furniture
and
equipment
£   
COST
At 1 May 2017
and 30 April 2018 6,776
DEPRECIATION
At 1 May 2017 1,355
Charge for year 678
At 30 April 2018 2,033
NET BOOK VALUE
At 30 April 2018 4,743
At 30 April 2017 5,421

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2017 457,147
Fair value adjustment 61,653
At 30 April 2018 518,800
NET BOOK VALUE
At 30 April 2018 518,800
At 30 April 2017 457,147

Fair value at 30 April 2018 is represented by:

£   
Valuation in 2015 457,147
Valuation in 2018 61,653
518,800

The above valuations were carried out by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Amounts owed by related companies - 340,000
Prepayments and accrued income 100,000 550,000
100,000 890,000

SARN ENTERPRISES LIMITED (REGISTERED NUMBER: 04239097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Tax 20,067 110,547
VAT - 339,650
Directors' loan accounts 487,941 487,941
Accruals and deferred income 1,850 1,801
509,858 939,939

8. RELATED PARTY DISCLOSURES

Included in creditors is a loan from AJ Howard and SH Howard, a director and shareholder in the
company. Amount owed at the year end being £487,941 (2017 : £487,941). No movement.

During the year, rent was received from Wycombe Wanderers Football Club Limited. Amount £24,000
(2017 : £24,000). Both companies have common directors.

During the year, consultancy fees were charged to related companies (aggregated). Amount £100,000
(2017 : £550,000). Amounts owed are included in prepayments and accrued income.

Amounts owed by related companies (aggregated) were £Nil (2017 : £340,000).

Related companies (aggregated) include : -

Beechdean Dairies Limited
Beechdean Manufacturing Limited

AJ Howard and SH Howard are directors and shareholders in both companies.