Company registration number 06380392 (England and Wales)
SEEMORGH UK ONE PVT LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
SEEMORGH UK ONE PVT LTD
COMPANY INFORMATION
Director
Mr B Nelson
Company number
06380392
Registered office
Fulbrook House Fulbrook Lane
Elstead
Godalming
Surrey
GU8 6LG
Accountants
Dains Accountants Limited
Suite 2, Albion House
2 Etruria Office Village
Forge Lane
Stoke on Trent
Staffordshire
ST1 5RQ
SEEMORGH UK ONE PVT LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
SEEMORGH UK ONE PVT LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -
The director presents his annual report and financial statements for the year ended 31 December 2023.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr B Nelson
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr B Nelson
Director
20 February 2024
SEEMORGH UK ONE PVT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEEMORGH UK ONE PVT LTD FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seemorgh UK One Pvt Ltd for the year ended 31 December 2023 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Seemorgh UK One Pvt Ltd, as a body, in accordance with the terms of our engagement letter dated 28 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Seemorgh UK One Pvt Ltd and state those matters that we have agreed to state to the board of directors of Seemorgh UK One Pvt Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seemorgh UK One Pvt Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Seemorgh UK One Pvt Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Seemorgh UK One Pvt Ltd. You consider that Seemorgh UK One Pvt Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Seemorgh UK One Pvt Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Dains Accountants Limited
20 February 2024
Chartered Accountants
Suite 2, Albion House
2 Etruria Office Village
Forge Lane
Stoke on Trent
Staffordshire
ST1 5RQ
SEEMORGH UK ONE PVT LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2023
2022
£
£
Turnover
302,555
259,836
Administrative expenses
(293,742)
(252,674)
Operating profit
8,813
7,162
Interest payable and similar expenses
(2)
(129)
Profit before taxation
8,811
7,033
Tax on profit
2,128
Profit for the financial year
8,811
9,161
SEEMORGH UK ONE PVT LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
44,729
59,619
Current assets
Debtors
4
6,835
7,381
Cash at bank and in hand
32,618
26,724
39,453
34,105
Creditors: amounts falling due within one year
5
(60,639)
(78,992)
Net current liabilities
(21,186)
(44,887)
Net assets
23,543
14,732
Capital and reserves
Called up share capital
100
100
Share premium account
249,901
249,901
Profit and loss reserves
(226,458)
(235,269)
Total equity
23,543
14,732
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 February 2024
Mr B Nelson
Director
Company registration number 06380392 (England and Wales)
SEEMORGH UK ONE PVT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
1
Accounting policies
Company information
Seemorgh UK One Pvt Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Fulbrook House Fulbrook Lane, Elstead, Godalming, Surrey, GU8 6LG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
20% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SEEMORGH UK ONE PVT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2023 and 31 December 2023
110,881
Depreciation and impairment
At 1 January 2023
51,262
Depreciation charged in the year
14,890
At 31 December 2023
66,152
Carrying amount
At 31 December 2023
44,729
At 31 December 2022
59,619
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
6,835
7,381
SEEMORGH UK ONE PVT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
2,544
2,591
Other creditors
58,095
76,401
60,639
78,992