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Registration number: 11669693

Seascape Croyde Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Seascape Croyde Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Seascape Croyde Ltd

(Registration number: 11669693)
Balance Sheet as at 30 November 2023

Note

2023
£

30 November
2022
£

Fixed assets

 

Tangible assets

4

-

388

Current assets

 

Debtors

5

2,883

2,967

Cash at bank and in hand

 

39,694

40,653

 

42,577

43,620

Creditors: Amounts falling due within one year

6

(36,955)

(36,362)

Net current assets

 

5,622

7,258

Total assets less current liabilities

 

5,622

7,646

Provisions for liabilities

-

(74)

Net assets

 

5,622

7,572

Capital and reserves

 

Called up share capital

100

100

Retained earnings

5,522

7,472

Shareholders' funds

 

5,622

7,572

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 February 2024 and signed on its behalf by:
 

 

Seascape Croyde Ltd

(Registration number: 11669693)
Balance Sheet as at 30 November 2023

.........................................
Mr Paul White
Director

.........................................
Mrs Anne-Louise White
Director

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW

The principal place of business is:
High Park House
Littleham
Devon
EX39 5EE

These financial statements were authorised for issue by the Board on 12 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the receivable for the provision of services in the ordinary course of the company’s activities.

Turnover is shown gross of sales, returns, rebates and discounts and is accounted for on the cash basis.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

1,938

1,938

At 30 November 2023

1,938

1,938

Depreciation

At 1 December 2022

1,550

1,550

Charge for the year

388

388

At 30 November 2023

1,938

1,938

Carrying amount

At 30 November 2023

-

-

At 30 November 2022

388

388

5

Debtors

Current

2023
£

2022
£

Prepayments

2,883

2,967

 

2,883

2,967

6

Creditors

Creditors: amounts falling due within one year

2023
£

30 November
2022
£

Due within one year

Trade creditors

2,344

2,395

Taxation and social security

33

1,452

Accruals and deferred income

1,222

1,159

Other creditors

33,356

31,356

36,955

36,362

7

Share capital

Allotted, called up and fully paid shares

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

2023

2022

 

No.

£

No.

£

Share Capital of £1 each

100

100

100

100

         

8

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £2,000.00 (2022 - £12,500.00) per ordinary share

 

2,000

 

12,500

         

9

Related party transactions

At the balance sheet date, included in other creditors, the company owed £33,356 (2022: £31,356) to Paul White and Anne-Louise White, the directors and equal shareholders of the company. There are no terms relating to interest or repayment of capital. The directors have confirmed their willingness to support the company over the forthcoming financial period by not withdrawing their loan account.

At the balance sheet date, included in trade creditors, the company owed £1,800 (2022: £1,800) to Paul White and Anne-Louise White, the directors and equal shareholders of the company. Transations were incurred at arm's length.

 

Seascape Croyde Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Ultimate controling party

The ultimate controlling party is Paul White and Anne-Louise White by virtue of their majority shareholding.