Silverfin false 24/03/2023 25/03/2022 24/03/2023 Mrs G A Fine 10/02/2023 Mr C A Goggin 20/05/2022 Mr J E Green 09/02/2023 Mr A J Herman Mrs M Mills Mr D Mosley 07 November 2023 no description of principal activity 04085065 2023-03-24 04085065 bus:Director1 2023-03-24 04085065 bus:Director2 2023-03-24 04085065 bus:Director3 2023-03-24 04085065 2022-03-24 04085065 core:CurrentFinancialInstruments 2023-03-24 04085065 core:CurrentFinancialInstruments 2022-03-24 04085065 core:ShareCapital 2023-03-24 04085065 core:ShareCapital 2022-03-24 04085065 core:OtherCapitalReserve 2023-03-24 04085065 core:OtherCapitalReserve 2022-03-24 04085065 core:RetainedEarningsAccumulatedLosses 2023-03-24 04085065 core:RetainedEarningsAccumulatedLosses 2022-03-24 04085065 core:LandBuildings 2022-03-24 04085065 core:LandBuildings 2023-03-24 04085065 bus:OrdinaryShareClass1 2023-03-24 04085065 2022-03-25 2023-03-24 04085065 bus:FullAccounts 2022-03-25 2023-03-24 04085065 bus:SmallEntities 2022-03-25 2023-03-24 04085065 bus:AuditExemptWithAccountantsReport 2022-03-25 2023-03-24 04085065 bus:PrivateLimitedCompanyLtd 2022-03-25 2023-03-24 04085065 bus:Director1 2022-03-25 2023-03-24 04085065 bus:Director2 2022-03-25 2023-03-24 04085065 bus:Director3 2022-03-25 2023-03-24 04085065 bus:Director4 2022-03-25 2023-03-24 04085065 bus:Director5 2022-03-25 2023-03-24 04085065 bus:Director6 2022-03-25 2023-03-24 04085065 2021-03-25 2022-03-24 04085065 bus:OrdinaryShareClass1 2022-03-25 2023-03-24 04085065 bus:OrdinaryShareClass1 2021-03-25 2022-03-24 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04085065 (England and Wales)

SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 24 March 2023
Pages for filing with the registrar

SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 24 March 2023

Contents

SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 24 March 2023
SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 24 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 10,500 10,500
10,500 10,500
Current assets
Debtors 4 10,177 9,619
Cash at bank and in hand 88,564 71,419
98,741 81,038
Creditors: amounts falling due within one year 5 ( 23,689) ( 17,689)
Net current assets 75,052 63,349
Total assets less current liabilities 85,552 73,849
Net assets 85,552 73,849
Capital and reserves
Called-up share capital 6 10,500 10,500
Other reserves 64,000 59,000
Profit and loss account 7 11,052 4,349
Total shareholder's funds 85,552 73,849

For the financial year ending 24 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Seascapes (Falmouth) Management Limited (registered number: 04085065) were approved and authorised for issue by the Director on 07 November 2023. They were signed on its behalf by:

Mr A J Herman
Director
SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 24 March 2023
SEASCAPES (FALMOUTH) MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 24 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Seascapes (Falmouth) Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Daniell House, Falmouth Road, Truro, TR1 2HX, England, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 4

3. Tangible assets

Land and buildings Total
£ £
Cost
At 25 March 2022 10,500 10,500
At 24 March 2023 10,500 10,500
Accumulated depreciation
At 25 March 2022 0 0
At 24 March 2023 0 0
Net book value
At 24 March 2023 10,500 10,500
At 24 March 2022 10,500 10,500

4. Debtors

2023 2022
£ £
Trade debtors 0 281
Prepayments 10,177 9,338
10,177 9,619

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 21,951 16,045
Accruals 1,738 1,644
23,689 17,689

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,500 Ordinary shares of £ 1.00 each 10,500 10,500

7. Reserves

Other reserves

Other reserves represent funds in respect of a sinking fund, which are held towards infrequent and longer term maintenance projects such as external decoration.

Profit and loss account

The profit and loss account represents accumulated profit reserves of the company.