0 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 3,000 1,584 307 1,891 1,109 1,416 xbrli:pure xbrli:shares iso4217:GBP 10992564 2022-11-01 2023-04-30 10992564 2023-04-30 10992564 2022-10-31 10992564 2022-10-31 10992564 core:MotorVehicles 2022-11-01 2023-04-30 10992564 bus:Director1 2022-11-01 2023-04-30 10992564 core:MotorVehicles 2022-10-31 10992564 core:MotorVehicles 2023-04-30 10992564 core:WithinOneYear 2023-04-30 10992564 core:WithinOneYear 2022-10-31 10992564 core:AfterOneYear 2023-04-30 10992564 core:AfterOneYear 2022-10-31 10992564 core:ShareCapital 2023-04-30 10992564 core:ShareCapital 2022-10-31 10992564 core:RetainedEarningsAccumulatedLosses 2023-04-30 10992564 core:RetainedEarningsAccumulatedLosses 2022-10-31 10992564 core:MotorVehicles 2022-10-31 10992564 bus:Director1 2022-10-31 10992564 bus:Director1 2021-10-31 10992564 bus:SmallEntities 2022-11-01 2023-04-30 10992564 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-04-30 10992564 bus:FullAccounts 2022-11-01 2023-04-30 10992564 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-04-30 10992564 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-04-30
COMPANY REGISTRATION NUMBER: 10992564
Seth Associates Limited
Filleted Unaudited Financial Statements
30 April 2023
Seth Associates Limited
Statement of Financial Position
30 April 2023
30 Apr 23
31 Oct 22
Note
£
£
Fixed assets
Tangible assets
4
1,109
1,416
Current assets
Debtors
5
976
16,779
Cash at bank and in hand
469
463
-------
--------
1,445
17,242
Creditors: amounts falling due within one year
6
40,052
55,206
--------
--------
Net current liabilities
38,607
37,964
--------
--------
Total assets less current liabilities
( 37,498)
( 36,548)
Creditors: amounts falling due after more than one year
7
24,198
24,198
--------
--------
Net liabilities
( 61,696)
( 60,746)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 61,796)
( 60,846)
--------
--------
Shareholders deficit
( 61,696)
( 60,746)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 April 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Seth Associates Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2023 , and are signed on behalf of the board by:
Mr S S Seth
Director
Company registration number: 10992564
Seth Associates Limited
Notes to the Financial Statements
Period from 1 November 2022 to 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 Rectory Road, Hounslow, TW4 7QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Motor vehicles
£
Cost
At 1 November 2022 and 30 April 2023
3,000
-------
Depreciation
At 1 November 2022
1,584
Charge for the period
307
-------
At 30 April 2023
1,891
-------
Carrying amount
At 30 April 2023
1,109
-------
At 31 October 2022
1,416
-------
5. Debtors
30 Apr 23
31 Oct 22
£
£
Other debtors
976
16,779
----
--------
6. Creditors: amounts falling due within one year
30 Apr 23
31 Oct 22
£
£
Bank loans and overdrafts
1,574
Social security and other taxes
405
403
Other creditors
39,647
53,229
--------
--------
40,052
55,206
--------
--------
7. Creditors: amounts falling due after more than one year
30 Apr 23
31 Oct 22
£
£
Bank loans and overdrafts
24,198
24,198
--------
--------
8. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
30 Apr 23
31 Oct 22
£
£
Mr S S Seth
( 38,259)
( 51,936)
--------
--------