Registered number
13454679
Sealed Limited
Filleted Accounts
30 June 2024
Sealed Limited
Registered number: 13454679
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 88 132
Current assets
Stocks 37,532 30,376
Debtors 4 25,053 26,162
Cash at bank and in hand 44,771 51,990
107,356 108,528
Creditors: amounts falling due within one year 5 (45,058) (69,090)
Net current assets 62,298 39,438
Net assets 62,386 39,570
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,286 39,470
Shareholders' funds 62,386 39,570
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.
SJM Morton
Director
Approved by the board on 25 September 2024
Sealed Limited
Notes to the Accounts
for the year ended 30 June 2024
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 sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 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 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 220
At 30 June 2024 220
Depreciation
At 1 July 2023 88
Charge for the year 44
At 30 June 2024 132
Net book value
At 30 June 2024 88
At 30 June 2023 132
4 Debtors 2024 2023
£ £
Trade debtors 24,898 26,162
Other debtors 155 -
25,053 26,162
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 33,978 1,836
Taxation and social security costs 11,081 17,254
Other creditors (1) 50,000
45,058 69,090
6 Related party transactions 2024 2023
£ £
Loan from associated company
Steven Morton Flat Roofing Ltd - 50,000
7 Controlling party
The company is controlled by SJM Morton.
8 Other information
Sealed Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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