Seekay UK Limited 04968562 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of the supply and fit of windows and conservatories Digita Accounts Production Advanced 6.30.9574.0 true true 04968562 2022-12-01 2023-11-30 04968562 2023-11-30 04968562 bus:CompanySecretaryDirector2 1 2023-11-30 04968562 core:RetainedEarningsAccumulatedLosses 2023-11-30 04968562 core:ShareCapital 2023-11-30 04968562 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04968562 core:Goodwill 2023-11-30 04968562 core:FurnitureFittingsToolsEquipment 2023-11-30 04968562 core:MotorVehicles 2023-11-30 04968562 core:OtherPropertyPlantEquipment 2023-11-30 04968562 bus:SmallEntities 2022-12-01 2023-11-30 04968562 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04968562 bus:FilletedAccounts 2022-12-01 2023-11-30 04968562 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04968562 bus:RegisteredOffice 2022-12-01 2023-11-30 04968562 bus:CompanySecretaryDirector2 2022-12-01 2023-11-30 04968562 bus:CompanySecretaryDirector2 1 2022-12-01 2023-11-30 04968562 bus:Director1 2022-12-01 2023-11-30 04968562 bus:Director3 2022-12-01 2023-11-30 04968562 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 04968562 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04968562 bus:Agent1 2022-12-01 2023-11-30 04968562 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 04968562 core:ShareCapital 2022-12-01 2023-11-30 04968562 core:Goodwill 2022-12-01 2023-11-30 04968562 core:ComputerEquipment 2022-12-01 2023-11-30 04968562 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 04968562 core:MotorVehicles 2022-12-01 2023-11-30 04968562 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 04968562 core:PlantMachinery 2022-12-01 2023-11-30 04968562 countries:EnglandWales 2022-12-01 2023-11-30 04968562 2022-11-30 04968562 bus:CompanySecretaryDirector2 1 2022-11-30 04968562 core:RetainedEarningsAccumulatedLosses 2022-11-30 04968562 core:ShareCapital 2022-11-30 04968562 core:Goodwill 2022-11-30 04968562 core:FurnitureFittingsToolsEquipment 2022-11-30 04968562 core:MotorVehicles 2022-11-30 04968562 core:OtherPropertyPlantEquipment 2022-11-30 04968562 2021-12-01 2022-11-30 04968562 2022-11-30 04968562 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 04968562 core:Goodwill 2022-11-30 04968562 core:FurnitureFittingsToolsEquipment 2022-11-30 04968562 core:MotorVehicles 2022-11-30 04968562 core:OtherPropertyPlantEquipment 2022-11-30 04968562 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 04968562 core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 04968562 core:ShareCapital 2021-12-01 2022-11-30 04968562 2021-11-30 04968562 core:RetainedEarningsAccumulatedLosses 2021-11-30 04968562 core:ShareCapital 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 04968562

Seekay UK Limited

Annual Report and Unaudited Financial Statements

Pages for filing with the Registrar

for the Year Ended 30 November 2023

 

Seekay UK Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

Seekay UK Limited

Company Information

Directors

Mr C King

Mrs L King

Mr O M King

Company secretary

Mrs L King

Registered office

Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

Accountants

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Seekay UK Limited
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Seekay UK Limited for the year ended 30 November 2023 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Seekay UK Limited, as a body, in accordance with the terms of our engagement letter dated 10 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Seekay UK Limited and state those matters that we have agreed to state to the Board of Directors of Seekay UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seekay UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Seekay UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Seekay UK Limited. You consider that Seekay UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Seekay UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

10 September 2024

 

Seekay UK Limited

(Registration number: 04968562)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

7,054

9,708

 

7,055

9,709

Current assets

 

Stocks

6

26,925

23,587

Debtors

7

133,253

123,530

Cash at bank and in hand

 

93,751

69,017

 

253,929

216,134

Creditors: Amounts falling due within one year

8

(82,568)

(46,680)

Net current assets

 

171,361

169,454

Total assets less current liabilities

 

178,416

179,163

Provisions for liabilities (deferred taxation)

(1,620)

(2,135)

Net assets

 

176,796

177,028

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

176,696

176,928

Shareholders' funds

 

176,796

177,028

 

Seekay UK Limited

(Registration number: 04968562)
Balance Sheet as at 30 November 2023

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 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 10 September 2024 and signed on its behalf by:
 

.........................................
Mr C King
Director

 

Seekay UK Limited

Statement of Changes in Equity for the Year Ended 30 November 2023

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 December 2022

100

176,928

177,028

Profit for the year

-

73,487

73,487

Total comprehensive income

-

73,487

73,487

Dividends

-

(73,719)

(73,719)

At 30 November 2023

100

176,696

176,796

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 December 2021

100

145,611

145,711

Profit for the year

-

86,517

86,517

Total comprehensive income

-

86,517

86,517

Dividends

-

(55,200)

(55,200)

At 30 November 2022

100

176,928

177,028

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT
United Kingdom

The principal place of business is:
5 Sidegate Avenue
Ipswich
Suffolk
IP4 4JJ
United Kingdom

These financial statements were authorised for issue by the Board on 10 September 2024.

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.

The financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance basis

Motor vehicles

25% reducing balance basis

Computer & office equipment

write off costs over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

amortised over 10 years - fully amortised at year end

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.

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 December 2022

30,000

30,000

At 30 November 2023

30,000

30,000

Amortisation

At 1 December 2022

29,999

29,999

At 30 November 2023

29,999

29,999

Carrying amount

At 30 November 2023

1

1

At 30 November 2022

1

1

5

Tangible assets

Computer & office equipment
£

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost

At 1 December 2022

6,665

24,907

2,580

34,152

At 30 November 2023

6,665

24,907

2,580

34,152

Depreciation

At 1 December 2022

5,085

17,192

2,167

24,444

Charge for the year

663

1,930

61

2,654

At 30 November 2023

5,748

19,122

2,228

27,098

Carrying amount

At 30 November 2023

917

5,785

352

7,054

At 30 November 2022

1,580

7,715

413

9,708

6

Stocks

2023
£

2022
£

Work in progress

26,925

23,587

 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Debtors

2023
£

2022
£

Trade debtors

70,943

70,374

Other debtors

62,310

53,156

133,253

123,530

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

52,296

13,218

Taxation and social security

22,440

22,125

Accruals and deferred income

4,535

4,160

Other creditors

3,297

7,177

82,568

46,680

9

Reserves

The profit and loss reserves of the company are fully distributable.

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £737.19 (2022 - £552.00) per each Ordinary shares

73,719

55,200

 

 
 

Seekay UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

11

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

Mrs L King

Short term loan advance

-

9,809

9,809

Other transactions with directors

Included in debtors at the 30th November 2023 is a short term loan advance in the sum of £9,809 (2022 £nil) from the company to the director, Mrs L King.

This loan was repaid to the company on 27th August 2024 and the balance outstanding at the year end was the maximum loan balance in the year.

Included in creditors at the 30th November 2023 is an amount of £3,297 (2022 £4,264) owed to the directors Mr C and Mrs L King. This is in respect of the balance of personal funds injected in to the company during the year by these directors and salaries which have not been drawn.

The directors do not charge the company interest on this loan and the loan is repayable on demand.