Registered number
06494241
Seabrook Digital Solutions Limited
Unaudited Filleted Accounts
29 February 2024
David Matthews BA FCA
Linwood
St Peters Road
Arnesby
Leicester
LE8 5WJ
Seabrook Digital Solutions Limited
Registered number: 06494241
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 54,684 54,673
Current assets
Debtors 4 32,897 17,442
Cash at bank and in hand 77,466 96,255
110,363 113,697
Creditors: amounts falling due within one year 5 (38,416) (30,176)
Net current assets 71,947 83,521
Total assets less current liabilities 126,631 138,194
Creditors: amounts falling due after more than one year 6 (23,245) (32,243)
Net assets 103,386 105,951
Capital and reserves
Called up share capital 2 2
Profit and loss account 103,384 105,949
Shareholders' funds 103,386 105,951
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M.J. Seabrook
Director
Approved by the board on 18 April 2024
Seabrook Digital Solutions Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Plant and machinery over 4 years
Office equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 March 2023 54,990 27,416 12,797 95,203
Additions - 20,268 666 20,934
Disposals - (26,933) - (26,933)
At 29 February 2024 54,990 20,751 13,463 89,204
Depreciation
At 1 March 2023 6,874 24,355 9,301 40,530
Charge for the year 12,029 5,157 1,039 18,225
On disposals - (24,235) - (24,235)
At 29 February 2024 18,903 5,277 10,340 34,520
Net book value
At 29 February 2024 36,087 15,474 3,123 54,684
At 28 February 2023 48,116 3,061 3,496 54,673
4 Debtors 2024 2023
£ £
Trade debtors 12,892 5,442
Other debtors 20,005 12,000
32,897 17,442
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,998 8,998
Taxation and social security costs 16,140 8,637
Other creditors 13,278 12,541
38,416 30,176
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 23,245 32,243
7 Other information
Seabrook Digital Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Linwood
St Peters Road
Arnesby
Leicester
LE8 5WJ
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