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REGISTERED NUMBER: 01957411 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Seaton Sports Limited

Seaton Sports Limited (Registered number: 01957411)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seaton Sports Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: D N Seaton
C J Seaton





SECRETARY: D N Seaton





REGISTERED OFFICE: International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF





REGISTERED NUMBER: 01957411 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

Seaton Sports Limited (Registered number: 01957411)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,665 27,162

CURRENT ASSETS
Stocks 38,922 39,997
Debtors 5 2,751 8,918
Cash at bank and in hand 223,316 293,504
264,989 342,419
CREDITORS
Amounts falling due within one year 6 133,364 208,016
NET CURRENT ASSETS 131,625 134,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,290

161,565

CREDITORS
Amounts falling due after more than one
year

7

-

(41,666

)

PROVISIONS FOR LIABILITIES (2,231 ) (2,581 )
NET ASSETS 152,059 117,318

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 152,055 117,314
SHAREHOLDERS' FUNDS 152,059 117,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Seaton Sports Limited (Registered number: 01957411)

Balance Sheet - continued
28 February 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





D N Seaton - Director


Seaton Sports Limited (Registered number: 01957411)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Seaton Sports 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 2% on cost
Tills - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 50% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2 (2022 - 2 ) .

Seaton Sports Limited (Registered number: 01957411)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
property Tills fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 19,292 3,606 24,946 2,342 50,186
Additions - - - 708 708
Disposals - (3,606 ) (9,336 ) (2,342 ) (15,284 )
At 28 February 2023 19,292 - 15,610 708 35,610
DEPRECIATION
At 1 March 2022 5,839 3,039 13,112 1,034 23,024
Charge for year 385 85 1,774 714 2,958
Eliminated on disposal - (3,124 ) (8,224 ) (1,689 ) (13,037 )
At 28 February 2023 6,224 - 6,662 59 12,945
NET BOOK VALUE
At 28 February 2023 13,068 - 8,948 649 22,665
At 28 February 2022 13,453 567 11,834 1,308 27,162

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 87 7,700
VAT 1,038 -
Prepayments 1,626 1,218
2,751 8,918

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts - 8,333
Trade creditors 14,099 22,834
Tax 9,114 14,359
Social security and other taxes - 1,488
Other creditors 65 130
Directors' current accounts 107,706 158,412
Accrued expenses 2,380 2,460
133,364 208,016

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years - 8,333
Bank loans - 2-5 years - 25,000
Bank loans more 5 yr by instal - 8,333
- 41,666

Seaton Sports Limited (Registered number: 01957411)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,333

8. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary A Shares £1 2 2
1 Ordinary B Shares £1 1 1
1 Ordinary C Shares £1 1 1
4 4