Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08317053 2023-01-01 2023-12-31 08317053 2022-01-01 2022-12-31 08317053 2023-12-31 08317053 2022-12-31 08317053 c:Director1 2023-01-01 2023-12-31 08317053 d:FreeholdInvestmentProperty 2023-12-31 08317053 d:FreeholdInvestmentProperty 2022-12-31 08317053 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 08317053 d:CurrentFinancialInstruments 2023-12-31 08317053 d:CurrentFinancialInstruments 2022-12-31 08317053 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08317053 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08317053 d:ShareCapital 2023-12-31 08317053 d:ShareCapital 2022-12-31 08317053 d:RetainedEarningsAccumulatedLosses 2023-12-31 08317053 d:RetainedEarningsAccumulatedLosses 2022-12-31 08317053 c:FRS102 2023-01-01 2023-12-31 08317053 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08317053 c:FullAccounts 2023-01-01 2023-12-31 08317053 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08317053 2 2023-01-01 2023-12-31 08317053 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 08317053







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


7 SEAFIELD ROAD LIMITED






































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7 SEAFIELD ROAD LIMITED
REGISTERED NUMBER:08317053



BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
940,000
925,000

  
940,000
925,000

Current assets
  

Debtors: amounts falling due within one year
 5 
38,601
31,351

Cash at bank and in hand
  
12,798
23,963

  
51,399
55,314

Creditors: amounts falling due within one year
 6 
(470,176)
(517,239)

Net current liabilities
  
 
 
(418,777)
 
 
(461,925)

Total assets less current liabilities
  
521,223
463,075

Provisions for liabilities
  

Deferred tax
  
(70,765)
(50,931)

  
 
 
(70,765)
 
 
(50,931)

Net assets
  
450,458
412,144


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
450,358
412,044

  
450,458
412,144


Page 1

 


7 SEAFIELD ROAD LIMITED
REGISTERED NUMBER:08317053


    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




C Hartfield
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


7 SEAFIELD ROAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

7 Seafield Road Limited is a private company, limited by shares, incorporated in England and Wales, company
registration number 08317053. The address of the registered office is stated on the company's information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Going concern

As at the year end the company had net current liabilities of £415,650 (2022: £461,925). The director has
stated that they are able to meet the company's creditors as they fall due. Therefore, it is the director’s opinion
that the going concern basis of preparation is appropriate.

  
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is generated by renting out an investment property and is
measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 


7 SEAFIELD ROAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
925,000


Surplus on revaluation
15,000



At 31 December 2023
940,000

The 2023 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Other debtors
31,351
31,351

Prepayments and accrued income
7,250
-

38,601
31,351


Page 4

 


7 SEAFIELD ROAD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
10,377
6,690

Other creditors
455,667
505,667

Accruals and deferred income
4,132
4,882

470,176
517,239



7.


Related party transactions

As at the balance sheet date, within other debtors, there is a balance owed of £31,351 (2022: £31,351) from
companies under common control. The loan has been provided interest free and is repayable on demand.
Additionally, as at the balance sheet date, within other creditors, there is a balance owed of £1,667 (2022:
£1,667) to the director, £1,000 (2022: £1,000) due to companies under common control and £453,000 (2022: £503,000) due to connected parties. The loans have been provided interest free and are repayable on demand.

 
Page 5