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REGISTERED NUMBER: 04338315 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Sealed Envelope Limited

Sealed Envelope Limited (Registered number: 04338315)






Contents of the Financial Statements
for the Year Ended 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Sealed Envelope Limited (Registered number: 04338315)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 94,278 101,768

CURRENT ASSETS
Debtors 5 146,713 136,720
Cash at bank 451,889 664,883
598,602 801,603
CREDITORS
Amounts falling due within one year 6 (144,064 ) (149,003 )
NET CURRENT ASSETS 454,538 652,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

548,816

754,368

PROVISIONS FOR LIABILITIES (23,570 ) (25,442 )
NET ASSETS 525,246 728,926

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 525,146 728,826
SHAREHOLDERS' FUNDS 525,246 728,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit & Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2024 and were signed by:





A R Brady - Director


Sealed Envelope Limited (Registered number: 04338315)

Notes to the Financial Statements
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sealed Envelope Limited is a private company, limited by shares, registered in England and Wales. The company's registered number 04338315 and registered office address Solar House, PF 915 High Road, North Finchley, London, N12 8QJ.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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.

Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due under the contract;
o the stage of completion of the contract at the end of the reporting period can be measured reliably; and
o the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost
Motor vehicles - 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Financial instruments
The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Sealed Envelope Limited (Registered number: 04338315)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Interest receivable
Interest income is recognised in the profit and loss account using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Sealed Envelope Limited (Registered number: 04338315)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 5,847 18,449 133,105 22,631 180,032
Additions - 2,119 126,048 6,399 134,566
Disposals (126 ) (2,457 ) (133,105 ) (2,335 ) (138,023 )
At 31 December 2023 5,721 18,111 126,048 26,695 176,575
DEPRECIATION
At 1 January 2023 2,941 15,494 43,925 15,904 78,264
Charge for year 1,431 3,302 41,596 6,547 52,876
Eliminated on disposal (126 ) (2,457 ) (43,925 ) (2,335 ) (48,843 )
At 31 December 2023 4,246 16,339 41,596 20,116 82,297
NET BOOK VALUE
At 31 December 2023 1,475 1,772 84,452 6,579 94,278
At 31 December 2022 2,906 2,955 89,180 6,727 101,768

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 79,726 77,437
Other debtors 66,987 59,283
146,713 136,720

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,717 5,580
Taxation and social security 125,539 128,656
Other creditors 16,808 14,767
144,064 149,003