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REGISTERED NUMBER: 01451739 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sealpump Engineering Limited

Sealpump Engineering Limited (Registered number: 01451739)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Sealpump Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Larkin
S D Brown





SECRETARY: M T Larkin





REGISTERED OFFICE: 19 Ellerbeck Court
Stokesley Business Park
Stokesley
MIDDLESBROUGH
North Yorkshire
TS9 5PT





REGISTERED NUMBER: 01451739 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Sealpump Engineering Limited (Registered number: 01451739)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,909 160,136

CURRENT ASSETS
Stocks 5 36,000 40,000
Debtors 6 221,390 273,500
Cash at bank 534,717 520,656
792,107 834,156
CREDITORS
Amounts falling due within one year 7 370,329 392,846
NET CURRENT ASSETS 421,778 441,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

574,687

601,446

PROVISIONS FOR LIABILITIES 8 32,950 35,377
NET ASSETS 541,737 566,069

CAPITAL AND RESERVES
Called up share capital 9 242 242
Retained earnings 541,495 565,827
SHAREHOLDERS' FUNDS 541,737 566,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sealpump Engineering Limited (Registered number: 01451739)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





S J Larkin - Director


Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sealpump Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Turnover is recognised when goods are dispatched, made available to the customer or when the service has been provided in accordance with the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Tools & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 10% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Tools & Motor Office
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 34,819 12,344 12,995 146,659 206,817
Additions 2,644 171 - 8,232 11,047
Disposals - - - (4,495 ) (4,495 )
At 31 March 2024 37,463 12,515 12,995 150,396 213,369
DEPRECIATION
At 1 April 2023 270 9,235 9,656 27,520 46,681
Charge for year 742 817 835 11,572 13,966
Eliminated on disposal - - - (187 ) (187 )
At 31 March 2024 1,012 10,052 10,491 38,905 60,460
NET BOOK VALUE
At 31 March 2024 36,451 2,463 2,504 111,491 152,909
At 31 March 2023 34,549 3,109 3,339 119,139 160,136

Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. STOCKS
2024 2023
£    £   
Stocks 36,000 40,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 220,564 272,849
Other debtors - 42
Prepayments and accrued income 826 609
221,390 273,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 172,983 196,227
Taxation and social security 69,781 68,726
Other creditors 1,225 1,733
Amounts owed to related undertaking 123,240 123,240
Accruals and deferred income 3,100 2,920
370,329 392,846

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 32,950 35,377

Deferred
tax
£   
Balance at 1 April 2023 35,377
Accelerated capital allowances (2,427 )
Balance at 31 March 2024 32,950

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 142
100 Ordinary A £1 100 100
42 Ordinary B £1 42 -
242 242

Sealpump Engineering Limited (Registered number: 01451739)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RELATED PARTY DISCLOSURES

2024 2023
£ £

Amounts owned to owners holding a participating interest 123,240 123,240
No interest has been charged

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sealpump Engineering Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sealpump Engineering Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sealpump Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sealpump Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Sealpump Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sealpump Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sealpump Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sealpump Engineering Limited. You consider that Sealpump Engineering 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 financial statements of Sealpump Engineering 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 financial statements.






Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT


11 September 2024