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REGISTERED NUMBER: 08180526 (England and Wales)


















Financial Statements

for the Year Ended 30 June 2023

for

Seely Developments Limited

Seely Developments Limited (Registered number: 08180526)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seely Developments Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: L C Seely





REGISTERED OFFICE: The Garden House
Mouseden Farm
Halls Hole Road
Tunbridge Wells
Kent
TN2 4RF





REGISTERED NUMBER: 08180526 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Seely Developments Limited (Registered number: 08180526)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,285 1,714
Investment property 5 775,000 745,000
776,285 746,714

CURRENT ASSETS
Debtors 6 136 23,696
Cash at bank 10,115 91,538
10,251 115,234
CREDITORS
Amounts falling due within one year 7 661,307 769,332
NET CURRENT LIABILITIES (651,056 ) (654,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,229

92,616

PROVISIONS FOR LIABILITIES 5,909 -
NET ASSETS 119,320 92,616

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 119,220 92,516
SHAREHOLDERS' FUNDS 119,320 92,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Seely Developments Limited (Registered number: 08180526)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2024 and were signed by:





L C Seely - Director


Seely Developments Limited (Registered number: 08180526)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Seely Developments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Seely Developments Limited (Registered number: 08180526)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 9,132
DEPRECIATION
At 1 July 2022 7,418
Charge for year 429
At 30 June 2023 7,847
NET BOOK VALUE
At 30 June 2023 1,285
At 30 June 2022 1,714

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 745,000
Revaluations 30,000
At 30 June 2023 775,000
NET BOOK VALUE
At 30 June 2023 775,000
At 30 June 2022 745,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2021 745,000
Valuation in 2023 30,000
775,000

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 745,000 745,000

Investment Property was valued on an open market basis on 29 April 2022 by CHL Mortgages .

Seely Developments Limited (Registered number: 08180526)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 23,321
Other debtors 136 375
136 23,696

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 518,130 512,659
Trade creditors 3,600 -
Taxation and social security 852 1,166
Other creditors 138,725 255,507
661,307 769,332

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 518,130 512,659

The bank loans are secured against the assets held by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has loaned funds to the company for working capital.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L C Seely.