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REGISTERED NUMBER: 01451739 (England and Wales)













Unaudited Financial Statements

for the Period 6 April 2022 to 31 March 2023

for

Sealpump Engineering Limited

Sealpump Engineering Limited (Registered number: 01451739)






Contents of the Financial Statements
for the Period 6 April 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sealpump Engineering Limited

Company Information
for the Period 6 April 2022 to 31 March 2023







DIRECTORS: S J Larkin
S D Brown





SECRETARY: M T Larkin





REGISTERED OFFICE: 19 Ellerbeck Court
Stokesley Business Park
Stokesley
MIDDLESBROUGH
North Yorkshire
TS9 5PT





REGISTERED NUMBER: 01451739 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Sealpump Engineering Limited (Registered number: 01451739)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,136 30,333

CURRENT ASSETS
Stocks 40,000 73,000
Debtors 5 273,500 273,928
Cash at bank 520,656 351,787
834,156 698,715
CREDITORS
Amounts falling due within one year 6 392,846 258,907
NET CURRENT ASSETS 441,310 439,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

601,446

470,141

PROVISIONS FOR LIABILITIES 7 35,377 7,413
NET ASSETS 566,069 462,728

CAPITAL AND RESERVES
Called up share capital 8 242 242
Retained earnings 565,827 462,486
SHAREHOLDERS' FUNDS 566,069 462,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

Sealpump Engineering Limited (Registered number: 01451739)

Balance Sheet - continued
31 March 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 5 September 2023 and were signed on its behalf by:





S J Larkin - Director


Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements
for the Period 6 April 2022 to 31 March 2023

1. STATUTORY INFORMATION

Sealpump Engineering 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Turnover is recognised when goods are dispatched, made available to the customer or when the service has been provided in accordance with the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Tools & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 10% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the period 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.


Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements - continued
for the Period 6 April 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Tools & Motor Office
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 6 April 2022 10,185 12,287 12,995 32,998 68,465
Additions 24,634 57 - 113,661 138,352
At 31 March 2023 34,819 12,344 12,995 146,659 206,817
DEPRECIATION
At 6 April 2022 156 8,205 8,542 21,229 38,132
Charge for period 114 1,030 1,114 6,291 8,549
At 31 March 2023 270 9,235 9,656 27,520 46,681
NET BOOK VALUE
At 31 March 2023 34,549 3,109 3,339 119,139 160,136
At 5 April 2022 10,029 4,082 4,453 11,769 30,333

Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements - continued
for the Period 6 April 2022 to 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 272,849 273,140
Other debtors 42 42
Prepayments and accrued income 609 746
273,500 273,928

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 196,227 215,003
Taxation and social security 68,726 39,043
Other creditors 1,733 776
Amounts owed to related undertaking 123,240 -
Accruals and deferred income 2,920 4,085
392,846 258,907

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 35,377 7,413

Deferred
tax
£   
Balance at 6 April 2022 7,413
Accelerated capital allowances 27,964
Balance at 31 March 2023 35,377

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
142 Ordinary £1 142 142
100 Ordinary A £1 100 100
242 242

9. RELATED PARTY DISCLOSURES


2023 2022
£ £

Amounts owed to owners holding a participating interest 123,240 -
No interest has been charged.