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REGISTERED NUMBER: 00166525 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

H.SEAL & CO.,LIMITED

H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H.SEAL & CO.,LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: P M A D Burns
M A Watret
A R F Cooper





SECRETARY: P M A D Burns





REGISTERED OFFICE: Church Lane
Weaving Mills
Coalville
Leicestershire
LE67 5DH





REGISTERED NUMBER: 00166525 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ

H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 113,459 133,482
113,459 133,482

CURRENT ASSETS
Stocks 417,119 371,792
Debtors 6 210,008 129,149
Cash at bank and in hand 389,403 464,853
1,016,530 965,794
CREDITORS
Amounts falling due within one year 7 (134,895 ) (120,096 )
NET CURRENT ASSETS 881,635 845,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

995,094

979,180

PROVISIONS FOR LIABILITIES (27,535 ) (32,400 )
NET ASSETS 967,559 946,780

CAPITAL AND RESERVES
Called up share capital 45,468 45,468
Capital redemption reserve 3,626 3,626
Retained earnings 918,465 897,686
967,559 946,780

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

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

The directors acknowledge their 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.

H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

BALANCE SHEET - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





P M A D Burns - Director


H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023


1. STATUTORY INFORMATION

H.Seal & Co.,Limited is a limited 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.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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% straight line and 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


2. ACCOUNTING POLICIES - continued

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
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 240,000
AMORTISATION
At 1 October 2022
and 30 September 2023 240,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

H.SEAL & CO.,LIMITED (REGISTERED NUMBER: 00166525)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 1,660,260
DEPRECIATION
At 1 October 2022 1,526,778
Charge for year 20,023
At 30 September 2023 1,546,801
NET BOOK VALUE
At 30 September 2023 113,459
At 30 September 2022 133,482

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 205,913 124,873
Prepayments and accrued income 4,095 4,276
210,008 129,149

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 33,872 5,156
Tax 31,656 16,681
Social security and other taxes 16,242 11,626
VAT 26,092 16,811
Other creditors 10,320 9,012
Directors' current accounts 2,601 50,183
Accruals and deferred income 14,112 10,627
134,895 120,096