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REGISTERED NUMBER: 11843938 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

Seas (U.K) Limited

Seas (U.K) Limited (Registered number: 11843938)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seas (U.K) Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: S S Moyses
Mrs S L Moyses





SECRETARY: Mrs S L Moyses





REGISTERED OFFICE: 8 Manor Road
Lincoln
LN2 1RJ





REGISTERED NUMBER: 11843938 (England and Wales)






Seas (U.K) Limited (Registered number: 11843938)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 498,637 306,598

CURRENT ASSETS
Stocks 165,830 36,851
Debtors 5 310,841 140,810
Cash at bank 41,645 7,661
518,316 185,322
CREDITORS
Amounts falling due within one year 6 540,074 208,761
NET CURRENT LIABILITIES (21,758 ) (23,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,879

283,159

CREDITORS
Amounts falling due after more than one
year

7

600,728

471,907
NET LIABILITIES (123,849 ) (188,748 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (123,949 ) (188,848 )
(123,849 ) (188,748 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Seas (U.K) Limited (Registered number: 11843938)

Balance Sheet - continued
28 February 2024


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 May 2024 and were signed on its behalf by:





S S Moyses - Director


Seas (U.K) Limited (Registered number: 11843938)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Seas (U.K) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated at an average cost basis.

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.

Seas (U.K) Limited (Registered number: 11843938)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The going concern basis is still suitable as the company will be supported by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 443,031
Additions 270,813
At 28 February 2024 713,844
DEPRECIATION
At 1 March 2023 136,433
Charge for year 78,774
At 28 February 2024 215,207
NET BOOK VALUE
At 28 February 2024 498,637
At 28 February 2023 306,598

Seas (U.K) Limited (Registered number: 11843938)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023 250,629
Additions 252,495
At 28 February 2024 503,124
DEPRECIATION
At 1 March 2023 52,658
Charge for year 53,375
At 28 February 2024 106,033
NET BOOK VALUE
At 28 February 2024 397,091
At 28 February 2023 197,971

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 156,713 28,067
Other debtors 154,128 112,743
310,841 140,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 102,709 59,245
Trade creditors 221,239 130,265
Taxation and social security 162,718 3,456
Other creditors 43,408 5,795
540,074 208,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 234,897 127,791
Other creditors 348,331 316,616
600,728 471,907

Seas (U.K) Limited (Registered number: 11843938)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Hire purchase contracts 337,606 187,036

Amounts included within hire purchase are secured on the assets they relate to.

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.