Company Registration No. 09757593 (England and Wales)
SEADRIFT PROJECTS LIMITED
Unaudited accounts
for the year ended 31 August 2023
SEADRIFT PROJECTS LIMITED
Unaudited accounts
Contents
SEADRIFT PROJECTS LIMITED
Company Information
for the year ended 31 August 2023
Directors
Leigh HAMMOND
Mrs Victoria BAMPFIELD HAMMOND
Company Number
09757593 (England and Wales)
Registered Office
Rose Barn
Rose
TRURO
Cornwall
TR4 9PL
Accountants
SG ACCOUNTANCY
102 TREVERBYN ROAD
CARCLAZE IND ESTATE
ST AUSTELL
CORNWALL
PL25 4EW
SEADRIFT PROJECTS LIMITED
Statement of financial position
as at 31 August 2023
Tangible assets
60,801
39,658
Inventories
70,000
250,000
Cash at bank and in hand
41,297
114,726
Creditors: amounts falling due within one year
(155,076)
(275,510)
Net current assets
111,221
92,216
Total assets less current liabilities
172,022
131,874
Creditors: amounts falling due after more than one year
(79,223)
(75,359)
Called up share capital
1,000
1,000
Profit and loss account
91,799
55,515
Shareholders' funds
92,799
56,515
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by
Leigh HAMMOND
Director
Company Registration No. 09757593
SEADRIFT PROJECTS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
SEADRIFT PROJECTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09757593. The registered office is Rose Barn , Rose, TRURO, Cornwall, TR4 9PL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 September 2022
34,675
27,750
62,425
Disposals
-
(27,750)
(27,750)
At 31 August 2023
34,675
41,314
75,989
At 1 September 2022
10,204
12,563
22,767
Charge for the year
3,671
1,313
4,984
On disposals
-
(12,563)
(12,563)
At 31 August 2023
13,875
1,313
15,188
At 31 August 2023
20,800
40,001
60,801
At 31 August 2022
24,471
15,187
39,658
SEADRIFT PROJECTS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Trade debtors
155,000
3,000
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
80,199
110,960
Taxes and social security
15,208
53,182
Other creditors
10,435
16,314
Loans from directors
48,111
94,024
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
41,643
30,736
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
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Average number of employees
During the year the average number of employees was 3 (2022: 3).