1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,267 759 15,026 8,643 1,406 10,049 4,977 5,624 xbrli:pure xbrli:shares iso4217:GBP 06678926 2023-04-01 2024-03-31 06678926 2024-03-31 06678926 2023-03-31 06678926 2022-04-01 2023-03-31 06678926 2023-03-31 06678926 2022-03-31 06678926 core:PlantMachinery 2023-04-01 2024-03-31 06678926 bus:Director2 2023-04-01 2024-03-31 06678926 core:PlantMachinery 2023-03-31 06678926 core:PlantMachinery 2024-03-31 06678926 core:WithinOneYear 2024-03-31 06678926 core:WithinOneYear 2023-03-31 06678926 core:AfterOneYear 2024-03-31 06678926 core:AfterOneYear 2023-03-31 06678926 core:ShareCapital 2024-03-31 06678926 core:ShareCapital 2023-03-31 06678926 core:CapitalRedemptionReserve 2024-03-31 06678926 core:CapitalRedemptionReserve 2023-03-31 06678926 core:RetainedEarningsAccumulatedLosses 2024-03-31 06678926 core:RetainedEarningsAccumulatedLosses 2023-03-31 06678926 core:PlantMachinery 2023-03-31 06678926 bus:SmallEntities 2023-04-01 2024-03-31 06678926 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06678926 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06678926 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06678926 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 06678926
SEYEXCLUSIVE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
SEYEXCLUSIVE LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
4,977
5,624
Current assets
Debtors
6
429,335
339,691
Cash at bank and in hand
48,156
33,760
-----------
-----------
477,491
373,451
Creditors: amounts falling due within one year
7
321,655
198,268
-----------
-----------
Net current assets
155,836
175,183
-----------
-----------
Total assets less current liabilities
160,813
180,807
Creditors: amounts falling due after more than one year
8
29,260
34,815
Provisions
Taxation including deferred tax
1,244
1,068
-----------
-----------
Net assets
130,309
144,924
-----------
-----------
SEYEXCLUSIVE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
40
40
Profit and loss account
130,209
144,824
-----------
-----------
Shareholders funds
130,309
144,924
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 August 2024 , and are signed on behalf of the board by:
C Kimbrell
Director
Company registration number: 06678926
SEYEXCLUSIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Red Brick House, Back Lane, Brattleby, Lincoln, LN1 2SQ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the value of tour operation activities on a departure date basis. Client money received at the balance sheet date relating to holidays commencing and flights departing after the year end are included within creditors.
Income tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. The only exception is that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2023
14,267
14,267
Additions
759
759
---------
---------
At 31 March 2024
15,026
15,026
---------
---------
Depreciation
At 1 April 2023
8,643
8,643
Charge for the year
1,406
1,406
---------
---------
At 31 March 2024
10,049
10,049
---------
---------
Carrying amount
At 31 March 2024
4,977
4,977
---------
---------
At 31 March 2023
5,624
5,624
---------
---------
6. Debtors
2024
2023
£
£
Other debtors
429,335
339,691
-----------
-----------
Included within other debtors is £179,204 (2023: £46,344) relating to costs incurred on bookings departing after the year end.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,865
5,865
Corporation tax
50,711
77,313
Social security and other taxes
1,528
274
Other creditors
263,551
114,816
-----------
-----------
321,655
198,268
-----------
-----------
Included in other creditors is £242,478 (2023: £110,828) relating to revenue received on bookings departing after the year end.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,260
34,815
---------
---------
9. Director's advances, credits and guarantees
During the year the director operated a loan account with the company. At the year end the loan account was overdrawn by £211,896 (2023: £238,444). The loan is repayable on demand and interest is charged on outstanding balances at 2.25% per annum.
10. Related party transactions
The company was under the control of C Kimbrell throughout the current and previous period. C Kimbrell is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS102.