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Company No: 12394879 (England and Wales)

SEA SHELL HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

SEA SHELL HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

SEA SHELL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
SEA SHELL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 1,102,114 1,102,114
1,102,114 1,102,114
Current assets
Debtors 4 169,265 438,858
Cash at bank and in hand 642 7,293
169,907 446,151
Creditors: amounts falling due within one year 5 ( 581,415) ( 809,425)
Net current liabilities (411,508) (363,274)
Total assets less current liabilities 690,606 738,840
Net assets 690,606 738,840
Capital and reserves
Called-up share capital 6 10 10
Profit and loss account 690,596 738,830
Total shareholders' funds 690,606 738,840

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sea Shell Holdings Limited (registered number: 12394879) were approved and authorised for issue by the Board of Directors on 23 August 2024. They were signed on its behalf by:

Lorraine Arnold
Director
SEA SHELL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
SEA SHELL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sea Shell Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Studio 5 Rowditch Business Centre, 282 Uttoxeter New Road, Derby, DE22 3LN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 December 2022 1,102,114
At 30 November 2023 1,102,114
Carrying value at 30 November 2023 1,102,114
Carrying value at 30 November 2022 1,102,114

4. Debtors

2023 2022
£ £
Amounts owed by own subsidiaries 169,115 303,000
Amounts owed by directors 0 8
VAT recoverable 150 850
Other debtors 0 135,000
169,265 438,858

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 884 201
Amounts owed to directors 0 23,894
Accruals 2,000 3,699
Other creditors 578,531 781,631
581,415 809,425

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
450 A ordinary shares of £ 0.01 each 4.50 4.50
450 B ordinary shares of £ 0.01 each 4.50 4.50
100 C ordinary shares of £ 0.01 each 1.00 1.00
10.00 10.00

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The group has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.

Transactions with the entity's directors

2023 2022
£ £
Owed by/(to) the directors 0 (23,894)

No interest has been charged on the above balances and there are no fixed dates for repayment.