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Registration number: 06546512

Seiquelle Innovation Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Seiquelle Innovation Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Seiquelle Innovation Limited

(Registration number: 06546512)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,243

-

Current assets

 

Stocks

5

22,612

17,404

Debtors

6

9,043

7,977

Cash at bank and in hand

 

4,231

5,466

 

35,886

30,847

Creditors: Amounts falling due within one year

7

(19,049)

(19,298)

Net current assets

 

16,837

11,549

Total assets less current liabilities

 

19,080

11,549

Creditors: Amounts falling due after more than one year

7

(53,317)

(66,673)

Net liabilities

 

(34,237)

(55,124)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(35,237)

(56,124)

Shareholders' deficit

 

(34,237)

(55,124)

 

Seiquelle Innovation Limited

(Registration number: 06546512)
Balance Sheet as at 31 March 2024

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2024 and signed on its behalf by:
 

.........................................
S E Hofgartner
Director

 

Seiquelle Innovation Limited

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

1

General information

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

The address of its registered office is:
103 High Street
Hungerford
BERKSHIRE
RG17 0NB

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 business continues to rely on the close support of the directors, who have no intention of calling in their loan account in the forseeable future and as such 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.

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

Office equipment

25% straight line basis

Plant and machinery

10% straight line basis

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.

 

Seiquelle Innovation Limited

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

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Seiquelle Innovation Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

5,736

3,675

9,411

Additions

-

2,691

2,691

Disposals

-

(395)

(395)

At 31 March 2024

5,736

5,971

11,707

Depreciation

At 1 April 2023

5,736

3,675

9,411

Charge for the year

-

448

448

Eliminated on disposal

-

(395)

(395)

At 31 March 2024

5,736

3,728

9,464

Carrying amount

At 31 March 2024

-

2,243

2,243

5

Stocks

2024
£

2023
£

Other inventories

22,612

17,404

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,965

6,189

Prepayments

2,078

1,788

 

9,043

7,977

 

Seiquelle Innovation Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,046

1,116

Taxation and social security

1,903

2,158

Other creditors

16,100

16,024

19,049

19,298

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

53,317

66,673

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

53,317

66,673

9

Related party transactions

Other transactions with directors

During the year, the director made loans to the company. At the balance sheet date the amount owed to the director was £68,317 (2023: £81,673). the loans are repayable on demand and are non interest bearing.