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Seiners Perranporth Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07799275
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,333 22,940
20,333 22,940
CURRENT ASSETS
Debtors 5 561 2,465
Cash at bank and in hand 465,399 308,339
465,960 310,804
Creditors: Amounts Falling Due Within One Year 6 (466,771 ) (669,944 )
NET CURRENT ASSETS (LIABILITIES) (811 ) (359,140 )
TOTAL ASSETS LESS CURRENT LIABILITIES 19,522 (336,200 )
Creditors: Amounts Falling Due After More Than One Year 7 (297,080 ) -
NET LIABILITIES (277,558 ) (336,200 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (277,658 ) (336,300 )
SHAREHOLDERS' FUNDS (277,558) (336,200)
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
On behalf of the board
Mr Dan Waind
Director
31/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Seiners Perranporth Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07799275 . The registered office is The Hollies, The Old Coach Road, Bodmin, Cornwall, PL30 5JJ.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. 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:
Leasehold 0% Reducing Balance
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: 16)
18 16
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2022 12,513 5,963 700 26,885
As at 31 October 2023 12,513 5,963 700 26,885
Depreciation
As at 1 November 2022 - 4,066 405 19,103
Provided during the period - 474 74 1,946
As at 31 October 2023 - 4,540 479 21,049
Net Book Value
As at 31 October 2023 12,513 1,423 221 5,836
As at 1 November 2022 12,513 1,897 295 7,782
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Computer Equipment Total
£ £
Cost
As at 1 November 2022 7,873 53,934
As at 31 October 2023 7,873 53,934
Depreciation
As at 1 November 2022 7,420 30,994
Provided during the period 113 2,607
As at 31 October 2023 7,533 33,601
Net Book Value
As at 31 October 2023 340 20,333
As at 1 November 2022 453 22,940
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 561 561
Net wages - 1,904
561 2,465
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 79,211 64,549
Bank loans and overdrafts 37,557 42,356
Other taxes and social security 255,860 217,725
VAT 75,478 56,596
Other creditors - 288,718
Directors' loan accounts 18,665 -
466,771 669,944
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 297,080 -
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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