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COMPANY REGISTRATION NUMBER: 10556206
Seax Trading Limited
Filleted Financial Statements
31 March 2023
Seax Trading Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Seax Trading Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Investments
5
1
1
Current assets
Debtors
6
70,867
59,147
Cash at bank and in hand
5,326
6,638
--------
--------
76,193
65,785
Creditors: amounts falling due within one year
7
71,638
62,025
--------
--------
Net current assets
4,555
3,760
-------
-------
Total assets less current liabilities
4,556
3,761
-------
-------
Net assets
4,556
3,761
-------
-------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
4,456
3,661
-------
-------
Shareholders funds
4,556
3,761
-------
-------
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.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
T M French
Director
Company registration number: 10556206
Seax Trading Limited
Notes to the Financial Statements
Year ended 31 March 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 County Hall, Market Road, Chelmsford, Essex, CM1 1QH.
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.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the parent undertaking. The support will remain necessary for the foreseeable future. If that support were not available, there would exist a material uncertainty which would cast doubt about the company's ability to continue as a going concern. The financial statements do not include adjustments that would result if the company were unable to continue as a going concern.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Average number of employees
During the year, the company employed an average of 1 employee (2022: 1), which consisted of the director only.
5. Investments
Other investments other than loans
£
Cost
At 1 April 2022 and 31 March 2023
1
----
Impairment
At 1 April 2022 and 31 March 2023
----
Carrying amount
At 31 March 2023
1
----
At 31 March 2022
1
----
6. Debtors
2023
2022
£
£
Trade debtors
68,560
55,065
Amounts owed by undertakings in which the company has a participating interest
2,289
Prepayments and accrued income
1,652
1,428
Other debtors
655
365
--------
--------
70,867
59,147
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
69,652
59,453
Accruals and deferred income
1,800
1,800
Corporation tax
186
772
--------
--------
71,638
62,025
--------
--------
8. Called up share capital
The company has unpaid share capital of £100 (100 issued ordinary shares of £1 each) in the current period.
9. Summary audit opinion
The auditor's report for the year dated 1 November 2023 was unqualified .
The senior statutory auditor was S C Drain , for and on behalf of Edmund Carr LLP .
10. Related party transactions
The company is a wholly owned subsidiary of Essex County Council and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Essex County Council. The company is a member in Essex Housing Development LLP. The balance shown under investments represents the amount invested in the partnership and is shown under members' capital. At the year end the company is owed £nil (2022: £2,289) from a LLP in which is it a member.