Silverfin false 31/05/2023 01/06/2022 31/05/2023 Kelly Marie Greaves 08/06/2005 03 October 2023 The principal activity of the company continued to be that of installation of heating systems, kitchens and bathrooms. 03395937 2023-05-31 03395937 bus:Director1 2023-05-31 03395937 2022-05-31 03395937 core:CurrentFinancialInstruments 2023-05-31 03395937 core:CurrentFinancialInstruments 2022-05-31 03395937 core:Non-currentFinancialInstruments 2023-05-31 03395937 core:Non-currentFinancialInstruments 2022-05-31 03395937 core:ShareCapital 2023-05-31 03395937 core:ShareCapital 2022-05-31 03395937 core:RetainedEarningsAccumulatedLosses 2023-05-31 03395937 core:RetainedEarningsAccumulatedLosses 2022-05-31 03395937 core:LeaseholdImprovements 2022-05-31 03395937 core:PlantMachinery 2022-05-31 03395937 core:Vehicles 2022-05-31 03395937 core:FurnitureFittings 2022-05-31 03395937 core:LeaseholdImprovements 2023-05-31 03395937 core:PlantMachinery 2023-05-31 03395937 core:Vehicles 2023-05-31 03395937 core:FurnitureFittings 2023-05-31 03395937 bus:OrdinaryShareClass1 2023-05-31 03395937 2022-06-01 2023-05-31 03395937 bus:FullAccounts 2022-06-01 2023-05-31 03395937 bus:SmallEntities 2022-06-01 2023-05-31 03395937 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 03395937 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03395937 bus:Director1 2022-06-01 2023-05-31 03395937 core:LeaseholdImprovements core:TopRangeValue 2022-06-01 2023-05-31 03395937 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 03395937 core:Vehicles core:TopRangeValue 2022-06-01 2023-05-31 03395937 core:FurnitureFittings core:TopRangeValue 2022-06-01 2023-05-31 03395937 2021-06-01 2022-05-31 03395937 core:LeaseholdImprovements 2022-06-01 2023-05-31 03395937 core:PlantMachinery 2022-06-01 2023-05-31 03395937 core:Vehicles 2022-06-01 2023-05-31 03395937 core:FurnitureFittings 2022-06-01 2023-05-31 03395937 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 03395937 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 03395937 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03395937 (England and Wales)

# SEAGER HEATING LIMITED

### Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

SEAGER HEATING LIMITED

## Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

SEAGER HEATING LIMITED

## COMPANY INFORMATION

For the financial year ended 31 May 2023
SEAGER HEATING LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023

DIRECTOR | Kelly Marie Greaves

REGISTERED OFFICE | 11 Williamsport Way
| Lion Barn Industrial Estate
| Ipswich
| IP6 8RW
| England
| United Kingdom

COMPANY NUMBER | 03395937 (England and Wales)

CHARTERED ACCOUNTANTS | Gascoynes
| Gascoyne House
| Moseleys Farm Business Centre
| Fornham All Saints
| Bury St Edmunds
| Suffolk
| IP28 6JY

SEAGER HEATING LIMITED

## BALANCE SHEET

As at 31 May 2023
SEAGER HEATING LIMITED

## BALANCE SHEET (continued)

As at 31 May 2023

| Note | 2023 |  | 2022
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 133,309 |  | 111,034
|  | 133,309 |  | 111,034
Current assets |  |  |  |
Stocks | 4 | 510,178 |  | 343,486
Debtors | 5 | 1,171,495 |  | 1,159,488
Cash at bank and in hand |  | 303,601 |  | 194,403
|  | 1,985,274 |  | 1,697,377
Creditors: amounts falling due within one year | 6 | ( 691,940) |  | ( 575,325)
Net current assets |  | 1,293,334 |  | 1,122,052
Total assets less current liabilities |  | 1,426,643 |  | 1,233,086
Creditors: amounts falling due after more than one year | 7 | ( 85,792) |  | ( 68,792)
Provision for liabilities | 8 | ( 25,328) |  | ( 21,096)
Net assets |  | 1,315,523 |  | 1,143,198
Capital and reserves |  |  |  |
Called-up share capital | 9 | 31,000 |  | 31,000
Profit and loss account |  | 1,284,523 |  | 1,112,198
Total shareholder's funds |  | 1,315,523 |  | 1,143,198

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Seager Heating Limited (registered number: 03395937) were approved and authorised for issue by the Director on 03 October 2023. They were signed on its behalf by:

Kelly Marie Greaves Director |

SEAGER HEATING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
SEAGER HEATING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Seager Heating Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 Williamsport Way, Lion Barn Industrial Estate, Ipswich, IP6 8RW, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 5 years straight line
Plant and machinery | 10 years straight line
Vehicles | 5 years straight line
Fixtures and fittings | 10 years straight line

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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### 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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2023 |  | 2022
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 33 |  | 33

#### 3. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 June 2022 | 15,338 |  | 9,916 |  | 447,560 |  | 40,062 |  | 512,876
Additions | 0 |  | 0 |  | 64,832 |  | 1,377 |  | 66,209
At 31 May 2023 | 15,338 |  | 9,916 |  | 512,392 |  | 41,439 |  | 579,085
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 June 2022 | 14,258 |  | 9,916 |  | 341,053 |  | 36,615 |  | 401,842
Charge for the financial year | 1,080 |  | 0 |  | 41,357 |  | 1,497 |  | 43,934
At 31 May 2023 | 15,338 |  | 9,916 |  | 382,410 |  | 38,112 |  | 445,776
Net book value |  |  |  |  |  |  |  |  |
At 31 May 2023 | 0 |  | 0 |  | 129,982 |  | 3,327 |  | 133,309
At 31 May 2022 | 1,080 |  | 0 |  | 106,507 |  | 3,447 |  | 111,034

#### 4. Stocks

| 2023 |  | 2022
| £ |  | £
Stocks | 119,563 |  | 102,328
Work in progress | 390,615 |  | 241,158
| 510,178 |  | 343,486

#### 5. Debtors

| 2023 |  | 2022
| £ |  | £
Trade debtors | 295,920 |  | 256,593
Amounts owed by Group undertakings | 760,960 |  | 760,960
Deferred tax asset | 51,638 |  | 80,148
Other debtors | 62,977 |  | 61,787
| 1,171,495 |  | 1,159,488

#### 6. Creditors: amounts falling due within one year

| 2023 |  | 2022
| £ |  | £
Bank loans | 43,750 |  | 58,750
Trade creditors | 404,778 |  | 337,377
Other taxation and social security | 188,973 |  | 134,528
Obligations under finance leases and hire purchase contracts | 38,251 |  | 27,464
Other creditors | 16,188 |  | 17,206
| 691,940 |  | 575,325

#### 7. Creditors: amounts falling due after more than one year

| 2023 |  | 2022
| £ |  | £
Obligations under finance leases and hire purchase contracts | 85,792 |  | 68,792

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Provision for liabilities

| 2023 |  | 2022
| £ |  | £
Deferred tax | 25,328 |  | 21,096

#### 9. Called-up share capital

| 2023 |  | 2022
| £ |  | £
Allotted, called-up and fully-paid |  |  |
31,000 Ordinary shares of £ 1.00 each | 31,000 |  | 31,000

#### 10. Related party transactions

Other related party transactions

| 2023 |  | 2022
| £ |  | £
Directors loan account | 650 |  | 6,400