Registered number
07894629
Seofon Business Services Limited
Filleted Accounts
31 December 2023
Seofon Business Services Limited
Registered number: 07894629
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 6,080 7,237
Tangible assets 4 3,981 5,126
10,061 12,363
Current assets
Debtors 5 38,822 33,255
Cash at bank and in hand 2,702 501
41,524 33,756
Creditors: amounts falling due within one year 6 (18,352) (8,397)
Net current assets 23,172 25,359
Total assets less current liabilities 33,233 37,722
Creditors: amounts falling due after more than one year 7 (32,415) (36,358)
Provisions for liabilities (756) (843)
Net assets 62 521
Capital and reserves
Called up share capital 8 8
Profit and loss account 54 513
Shareholders' funds 62 521
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C L Klamm
Director
Approved by the board on 21 August 2024
Seofon Business Services Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 9,440
At 31 December 2023 9,440
Amortisation
At 1 January 2023 2,203
Provided during the year 1,157
At 31 December 2023 3,360
Net book value
At 31 December 2023 6,080
At 31 December 2022 7,237
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 1,795 15,110 16,905
Additions - 856 856
At 31 December 2023 1,795 15,966 17,761
Depreciation
At 1 January 2023 791 10,988 11,779
Charge for the year 385 1,616 2,001
At 31 December 2023 1,176 12,604 13,780
Net book value
At 31 December 2023 619 3,362 3,981
At 31 December 2022 1,004 4,122 5,126
5 Debtors 2023 2022
£ £
Trade debtors 34,553 29,191
Other debtors 4,269 4,064
38,822 33,255
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,562 6,886
Trade creditors 39 1,059
Taxation and social security costs 23,606 15,837
Other creditors (7,855) (15,385)
18,352 8,397
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,192 34,476
Other creditors 2,223 1,882
32,415 36,358
8 Other information
Seofon Business Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Planet House
North Heath Lane Industrial Estate
Horsham
West Sussex
RH12 5QE
Seofon Business Services Limited 07894629 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 C L Klamm No description of principal activity 07894629 2022-01-01 2022-12-31 07894629 core:WithinOneYear 2022-12-31 07894629 core:AfterOneYear 2022-12-31 07894629 core:ShareCapital 2022-12-31 07894629 core:RetainedEarningsAccumulatedLosses 2022-12-31 07894629 2023-01-01 2023-12-31 07894629 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07894629 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07894629 bus:Director40 2023-01-01 2023-12-31 07894629 1 2023-01-01 2023-12-31 07894629 2 2023-01-01 2023-12-31 07894629 core:Goodwill 2023-01-01 2023-12-31 07894629 core:LandBuildings 2023-01-01 2023-12-31 07894629 core:PlantMachinery 2023-01-01 2023-12-31 07894629 countries:England 2023-01-01 2023-12-31 07894629 bus:FRS102 2023-01-01 2023-12-31 07894629 bus:FilletedAccounts 2023-01-01 2023-12-31 07894629 2023-12-31 07894629 core:WithinOneYear 2023-12-31 07894629 core:AfterOneYear 2023-12-31 07894629 core:ShareCapital 2023-12-31 07894629 core:RetainedEarningsAccumulatedLosses 2023-12-31 07894629 core:Goodwill 2023-12-31 07894629 core:LandBuildings 2023-12-31 07894629 core:PlantMachinery 2023-12-31 07894629 2022-12-31 07894629 core:Goodwill 2022-12-31 07894629 core:LandBuildings 2022-12-31 07894629 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure