Silverfin false false 30/09/2024 01/10/2023 30/09/2024 G M Oram 07/07/2010 15 November 2024 The principal activity of the Company during the financial year was that of a property management company. 07307457 2024-09-30 07307457 bus:Director1 2024-09-30 07307457 core:CurrentFinancialInstruments 2024-09-30 07307457 core:CurrentFinancialInstruments 2023-09-30 07307457 2023-09-30 07307457 core:RetainedEarningsAccumulatedLosses 2024-09-30 07307457 core:RetainedEarningsAccumulatedLosses 2023-09-30 07307457 2023-10-01 2024-09-30 07307457 bus:FilletedAccounts 2023-10-01 2024-09-30 07307457 bus:SmallEntities 2023-10-01 2024-09-30 07307457 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07307457 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 07307457 bus:Director1 2023-10-01 2024-09-30 07307457 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 07307457 (England and Wales)

SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Debtors 3 2,478 2,128
2,478 2,128
Creditors: amounts falling due within one year 4 ( 16,526) ( 18,248)
Net current liabilities (14,048) (16,120)
Total assets less current liabilities (14,048) (16,120)
Net liabilities ( 14,048) ( 16,120)
Reserves
Profit and loss account ( 14,048 ) ( 16,120 )
Total reserves ( 14,048) ( 16,120)

For the financial year ending 30 September 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 financial statements of Seapoint House (Newquay) Management Company Limited (registered number: 07307457) were approved and authorised for issue by the Director on 15 November 2024. They were signed on its behalf by:

G M Oram
Director
SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SEAPOINT HOUSE (NEWQUAY) MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Seapoint House (Newquay) Management Company Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 25 Withers Ground, Devizes, SN10 2GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £14,048. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Prepayments 2,197 2,128
Other debtors 281 0
2,478 2,128

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 4,975 4,458
Amounts owed to director 9,950 12,398
Accruals 1,320 1,392
Other creditors 281 0
16,526 18,248

5. Liability of members

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

6. Related party transactions

At the year end, the company owed the director a total of £9,950 (2023: £12,398). During the year, the company paid the director £1,401 in interest (2023: £NIL).