Seathrift Limited 8991727 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is operating a beach cafe from when the lease was surrendered until the business was sold on 26 May 2017. Digita Accounts Production Advanced 6.30.9574.0 true true 8991727 2022-05-01 2023-04-30 8991727 2023-04-30 8991727 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 8991727 bus:SmallEntities 2022-05-01 2023-04-30 8991727 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 8991727 bus:FullAccounts 2022-05-01 2023-04-30 8991727 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 8991727 bus:RegisteredOffice 2022-05-01 2023-04-30 8991727 bus:Director1 2022-05-01 2023-04-30 8991727 bus:Director2 2022-05-01 2023-04-30 8991727 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 8991727 countries:EnglandWales 2022-05-01 2023-04-30 8991727 2022-04-30 8991727 2021-05-01 2022-04-30 8991727 2022-04-30 8991727 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 8991727

Seathrift Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Seathrift Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Seathrift Limited

Company Information

Directors

Mrs Adele Blewett

Mr Neil Blewett

Registered office

11 Trewirgie Road
Redruth
Cornwall
TR15 2SX

 

Seathrift Limited

(Registration number: 8991727)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

350,000

242,106

Current assets

 

Cash at bank and in hand

 

42,606

30,692

Creditors: Amounts falling due within one year

5

(226,192)

(225,314)

Net current liabilities

 

(183,586)

(194,622)

Total assets less current liabilities

 

166,414

47,484

Provisions for liabilities

(21,920)

-

Net assets

 

144,494

47,484

Capital and reserves

 

Called up share capital

100

100

Other reserves

85,974

-

Retained earnings

58,420

47,384

Shareholders' funds

 

144,494

47,484

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 January 2024 and signed on its behalf by:
 

.........................................
Mr Neil Blewett
Director

 

Seathrift Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Trewirgie Road
Redruth
Cornwall
TR15 2SX

These financial statements were authorised for issue by the Board on 14 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Seathrift Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

Fair Value At 1 May 2022

242,106

Fair value adjustments

107,894

Fair Value At 30 April 2023

350,000

The fair value of the company's investment property was valued on 30 April 2023 by Mrs A Blewett a director of the company. The basis of this value was open market value.

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

85

Taxation and social security

2,589

2,211

Accruals and deferred income

830

707

Other creditors

222,773

222,311

226,192

225,314