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Seagulls Chalets Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 October 2023
Accountancy 123 Ltd
Chartered Accountants
138 Quay Road
Bridlington
North Humberside
YO16 4JB
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 07324207
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 100,748 120,227
100,748 120,227
CURRENT ASSETS
Debtors 640 -
640 -
Creditors: Amounts Falling Due Within One Year (18,347 ) (54,993 )
NET CURRENT ASSETS (LIABILITIES) (17,707 ) (54,993 )
TOTAL ASSETS LESS CURRENT LIABILITIES 83,041 65,234
Creditors: Amounts Falling Due After More Than One Year (4,557 ) (6,836 )
NET ASSETS 78,484 58,398
CAPITAL AND RESERVES
Called up share capital 4 2 2
Profit and Loss Account 78,482 58,396
SHAREHOLDERS' FUNDS 78,484 58,398
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 October 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Ruth Bainbridge
Director
24/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil or 10% reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 33% Reducing balance
1.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2022: NIL)
- -
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3. Tangible Assets
Total
£
Cost
As at 1 November 2022 125,766
Additions 30,000
Disposals (48,821 )
As at 31 October 2023 106,945
Depreciation
As at 1 November 2022 5,539
Provided during the period 658
As at 31 October 2023 6,197
Net Book Value
As at 31 October 2023 100,748
As at 1 November 2022 120,227
4. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
5. General Information
Seagulls Chalets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07324207 . The registered office is Flat 12 Anchor Point, 25 St Annes Road, Bridlington, East Yorkshire, YO15 2JB.
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