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REGISTERED NUMBER: 03294571 (England and Wales)















Financial Statements for the Year Ended 30 September 2020

for

SEASWIFT PRODUCTS LTD

SEASWIFT PRODUCTS LTD (REGISTERED NUMBER: 03294571)






Contents of the Financial Statements
for the Year Ended 30 September 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SEASWIFT PRODUCTS LTD

Company Information
for the Year Ended 30 September 2020







DIRECTOR: Mr B Matthews





REGISTERED OFFICE: 1&2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB





REGISTERED NUMBER: 03294571 (England and Wales)





ACCOUNTANTS: THB LLP
1 & 2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB

SEASWIFT PRODUCTS LTD (REGISTERED NUMBER: 03294571)

Balance Sheet
30 September 2020

30.9.20 30.9.19
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 144 170
144 170

CURRENT ASSETS
Debtors 6 83,545 47,200
Cash at bank 1,488 205
85,033 47,405
CREDITORS
Amounts falling due within one year 7 45,001 28,028
NET CURRENT ASSETS 40,032 19,377
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,176

19,547

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 40,166 19,537
SHAREHOLDERS' FUNDS 40,176 19,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 5 September 2022 and were signed by:





Mr B Matthews - Director


SEASWIFT PRODUCTS LTD (REGISTERED NUMBER: 03294571)

Notes to the Financial Statements
for the Year Ended 30 September 2020

1. STATUTORY INFORMATION

Seaswift Products 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tooling - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

SEASWIFT PRODUCTS LTD (REGISTERED NUMBER: 03294571)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2020

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2019
and 30 September 2020 860
AMORTISATION
At 1 October 2019
and 30 September 2020 860
NET BOOK VALUE
At 30 September 2020 -
At 30 September 2019 -

5. TANGIBLE FIXED ASSETS
Tooling
£   
COST
At 1 October 2019
and 30 September 2020 4,750
DEPRECIATION
At 1 October 2019 4,580
Charge for year 26
At 30 September 2020 4,606
NET BOOK VALUE
At 30 September 2020 144
At 30 September 2019 170

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.20 30.9.19
£    £   
Trade debtors 3,694 1,212
Amounts owed by group undertakings 79,851 45,988
83,545 47,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.20 30.9.19
£    £   
Trade creditors 26,798 18,561
Amounts owed to group undertakings 8,657 -
Taxation and social security 5,046 4,967
Other creditors 4,500 4,500
45,001 28,028

SEASWIFT PRODUCTS LTD (REGISTERED NUMBER: 03294571)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2020

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.9.20 30.9.19
value: £    £   
10 Ordinary £10 10 10

9. RESERVES
Retained
earnings
£   

At 1 October 2019 19,537
Profit for the year 20,629
At 30 September 2020 40,166