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REGISTERED NUMBER: 07012343 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 December 2023

for

Seal Xpress Limited

Seal Xpress Limited (Registered number: 07012343)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Seal Xpress Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs Y M Benson
A Benson
Mrs S Goodwin
J Hickman





REGISTERED OFFICE: Unit 6, Elm Court
Sandwell Business Park
Crystal Drive
Smethwick
West Midlands
B66 1RB





REGISTERED NUMBER: 07012343 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Seal Xpress Limited (Registered number: 07012343)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,484 23,367

CURRENT ASSETS
Stocks 102,949 100,079
Debtors 5 174,515 172,822
Cash at bank and in hand 428 1,095
277,892 273,996
CREDITORS
Amounts falling due within one year 6 240,337 235,545
NET CURRENT ASSETS 37,555 38,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,039

61,818

CREDITORS
Amounts falling due after more than one year 7 (18,024 ) (27,853 )

PROVISIONS FOR LIABILITIES - (4,450 )
NET ASSETS 30,015 29,515

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,915 29,415
SHAREHOLDERS' FUNDS 30,015 29,515

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:



Mrs S Goodwin - Director


Seal Xpress Limited (Registered number: 07012343)

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

1. STATUTORY INFORMATION

Seal Xpress Limited is a private 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 10% on cost
Fixtures and fittings - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

Seal Xpress Limited (Registered number: 07012343)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 88,617 52,653 141,270
DEPRECIATION
At 1 January 2023 70,896 47,007 117,903
Charge for year 8,862 4,021 12,883
At 31 December 2023 79,758 51,028 130,786
NET BOOK VALUE
At 31 December 2023 8,859 1,625 10,484
At 31 December 2022 17,721 5,646 23,367


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,237 167,106
Other debtors 39,278 5,716
174,515 172,822

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,772 9,462
Trade creditors 56,248 59,025
Taxation and social security 30,855 33,989
Other creditors 119,462 133,069
240,337 235,545

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,024 27,853

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 24,352 42
Invoice finance 107,989 127,501
132,341 127,543

The invoice finance is secured over the trade debtors to which it relates.

Seal Xpress Limited (Registered number: 07012343)

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

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the year end was £17,627 (2022 £15,849).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs Y M Benson
Balance outstanding at start of year - -
Amounts advanced 20,078 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,078 -

Mrs S Goodwin
Balance outstanding at start of year - -
Amounts advanced 12,522 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,522 -

A Benson
Balance outstanding at start of year - -
Amounts advanced 4,708 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,708 -

11. RELATED PARTY DISCLOSURES

The balance due to the directors at the end of the year was £Nil (2022 £85).