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REGISTERED NUMBER: 09467080 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Seaglint Commercial Limited

Seaglint Commercial Limited (Registered number: 09467080)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Seaglint Commercial Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C J Pennington
Miss L H K Vu





REGISTERED OFFICE: 16 Beaufort Court
Admirals Way
Docklands
London
E14 9XL





REGISTERED NUMBER: 09467080 (England and Wales)





ACCOUNTANTS: RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL

Seaglint Commercial Limited (Registered number: 09467080)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 63,756 313,756

CURRENT ASSETS
Cash at bank 482 1,338

CREDITORS
Amounts falling due within one year 5 58,310 101,298
NET CURRENT LIABILITIES (57,828 ) (99,960 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,928

213,796

CREDITORS
Amounts falling due after more than one
year

6

(5,263

)

(142,412

)

PROVISIONS FOR LIABILITIES - (12,469 )
NET ASSETS 665 58,915

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non distributable reserve 8 - 57,531
Retained earnings 8 565 1,284
SHAREHOLDERS' FUNDS 665 58,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Seaglint Commercial Limited (Registered number: 09467080)

Statement of Financial Position - continued
31 March 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 21 June 2024 and were signed on its behalf by:





C J Pennington - Director


Seaglint Commercial Limited (Registered number: 09467080)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Seaglint Commercial 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that this policy of not providing depreciation is necessary in order for the accounts to give a true and fair view, since the current value of investment properties, and changes in the current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 313,756
Disposals (250,000 )
At 31 March 2024 63,756
NET BOOK VALUE
At 31 March 2024 63,756
At 31 March 2023 313,756

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,072 3,971
Trade creditors 1 1
Amounts owed to group undertakings 54,237 97,326
58,310 101,298

Seaglint Commercial Limited (Registered number: 09467080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 5,263 9,336
Bank loans more 5 yr by instal - 133,076
5,263 142,412

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 133,076

The mortgage provided is secured by a fixed legal charge dated 27/08/2015 by Shawbrook Bank Ltd. There is also a floating charge that covers all the property or undertakings of the company.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

8. RESERVES
Non
Retained distributable
earnings reserve Totals
£    £    £   

At 1 April 2023 1,284 57,531 58,815
Profit for the year 48,750 48,750
Dividends (37,000 ) (37,000 )
Provision for deferred Tax (12,469 ) - (12,469 )
Investment Property - (57,531 ) (57,531 )
At 31 March 2024 565 - 565

9. RELATED PARTY DISCLOSURES

The shares of the company are owned by Namo Investments Ltd which is owned and controlled by Mr C Pennington and Mrs L Vu.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr C Pennington and Mrs L Vu.