Company registration number 04990606 (England and Wales)
SEYMOUR AND BAINBRIDGE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
SEYMOUR AND BAINBRIDGE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SEYMOUR AND BAINBRIDGE LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
30 June 2023
31 December 2021
Notes
£
£
£
£
Fixed assets
Tangible assets
5
-
0
2,032
Current assets
Stocks
-
6,145
Debtors
6
16,742
29,492
Cash at bank and in hand
68,395
166,984
85,137
202,621
Creditors: amounts falling due within one year
7
(19,603)
(31,966)
Net current assets
65,534
170,655
Total assets less current liabilities
65,534
172,687
Provisions for liabilities
-
0
(386)
Net assets
65,534
172,301
Capital and reserves
Called up share capital
1
1
Capital redemption reserve
1
1
Profit and loss reserves
65,532
172,299
Total equity
65,534
172,301
SEYMOUR AND BAINBRIDGE LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 November 2023
Miss L  Bainbridge
Director
Company Registration No. 04990606
SEYMOUR AND BAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Seymour and Bainbridge Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Charlecote Mews, Staple Gardens, Winchester, Hampshire, England, SO23 8SR.

1.1
Reporting period

Seymour & Bainbridge Ltd presents the financial statements for a period of 18 months. The reason for using a longer accounting period is to coincide with the trade cessation date of the company. On this basis, comparative amounts presented in the financial statements are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents the sale of services provided net of VAT and is based on the number of hours required to complete.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance basis
Fixtures, fittings & equipment
25% reducing balance basis
Computer equipment
25% reducing balance basis

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.

1.6
Impairment of fixed assets

Tangible fixed assets are reviewed annually by the director for impairment. Any impairment is taken to the profit and loss account.

1.7
Stocks

Work in progress is measured as a percentage of the final invoice value for work completed at the Balance Sheet date.

SEYMOUR AND BAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company only enters into Basic financial instrument transactions.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

SEYMOUR AND BAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

 

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.16

Pensions

The company provides a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost and charge represents contributions payable by the company to the fund and amounted to £40,000 (2020: £52,000). Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SEYMOUR AND BAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was :

2023
2021
Number
Number
Total
2
4
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2022 and 30 June 2023
60,000
Amortisation and impairment
At 1 January 2022 and 30 June 2023
60,000
Carrying amount
At 30 June 2023
-
0
At 31 December 2021
-
0
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 30 June 2023
20,165
Depreciation and impairment
At 1 January 2022
18,133
Depreciation charged in the period
2,032
At 30 June 2023
20,165
Carrying amount
At 30 June 2023
-
0
At 31 December 2021
2,032
SEYMOUR AND BAINBRIDGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 7 -
6
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
6,862
23,253
Corporation tax recoverable
9,880
-
0
Other debtors
-
0
6,239
16,742
29,492
7
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
-
0
147
Corporation tax
-
0
11,368
Other taxation and social security
2,601
16,747
Other creditors
17,002
3,704
19,603
31,966
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