SEASHANTY LIMITED 07905742 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is investment property ownership & holiday lettings. Digita Accounts Production Advanced 6.30.9574.0 true true 07905742 2023-02-01 2024-01-31 07905742 2024-01-31 07905742 bus:OrdinaryShareClass1 bus:OtherShareType 2024-01-31 07905742 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-01-31 07905742 core:CurrentFinancialInstruments 2024-01-31 07905742 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07905742 core:LandBuildings 2024-01-31 07905742 bus:SmallEntities 2023-02-01 2024-01-31 07905742 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07905742 bus:FullAccounts 2023-02-01 2024-01-31 07905742 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07905742 bus:RegisteredOffice 2023-02-01 2024-01-31 07905742 bus:Director1 2023-02-01 2024-01-31 07905742 bus:OrdinaryShareClass1 bus:OtherShareType 2023-02-01 2024-01-31 07905742 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07905742 core:LandBuildings 2023-02-01 2024-01-31 07905742 countries:AllCountries 2023-02-01 2024-01-31 07905742 2023-01-31 07905742 core:LandBuildings 2023-01-31 07905742 2022-02-01 2023-01-31 07905742 2023-01-31 07905742 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-31 07905742 core:CurrentFinancialInstruments 2023-01-31 07905742 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07905742 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07905742

SEASHANTY LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

SEASHANTY LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SEASHANTY LIMITED

Company Information

Director

PL Brown

Registered office

Stanhope House Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

Accountants

Pennington Williams Limited
Chartered Certified Accountants
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

SEASHANTY LIMITED

(Registration number: 07905742)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

46,166

46,691

Investment property

5

400,000

400,000

Other financial assets

6

-

107,515

 

446,166

554,206

Current assets

 

Debtors

7

266

266

Cash at bank and in hand

 

5,209

3,211

 

5,475

3,477

Creditors: Amounts falling due within one year

8

(559,634)

(697,944)

Net current liabilities

 

(554,159)

(694,467)

Net liabilities

 

(107,993)

(140,261)

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

-

45,705

Retained earnings

(108,093)

(186,066)

Shareholders' deficit

 

(107,993)

(140,261)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

SEASHANTY LIMITED

(Registration number: 07905742)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 15 July 2024
 

.........................................

PL Brown
Director

 

SEASHANTY LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Stanhope House Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

SEASHANTY LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & Buildings

Straight line over 99 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

SEASHANTY LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 February 2023

51,937

51,937

At 31 January 2024

51,937

51,937

Depreciation

At 1 February 2023

5,246

5,246

Charge for the year

525

525

At 31 January 2024

5,771

5,771

Carrying amount

At 31 January 2024

46,166

46,166

At 31 January 2023

46,691

46,691

Included within the net book value of land and buildings above is £46,166 (2023 - £46,691) in respect of long leasehold land and buildings.
 

5

Investment properties

2024
£

At 1 February

400,000

At 31 January

400,000

There has been no valuation of investment property by an independent valuer.

 

SEASHANTY LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2023

107,515

107,515

Additions

19

19

Disposals

(107,534)

(107,534)

At 31 January 2024

-

-

Impairment

Carrying amount

At 31 January 2024

-

-

7

Debtors

Current

2024
£

2023
£

Other debtors

266

266

 

266

266

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,159

5,713

Accruals and deferred income

1,543

1,432

Other creditors

551,932

690,799

559,634

697,944

 

SEASHANTY LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100