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SEADRAGON BACKPACKERS LIMITED

Registered Number
06087155
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SEADRAGON BACKPACKERS LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

ASHTON, Karen Louise

Company Secretary

CLARK, Stuart

Registered Address

Woodsmoke
Flexbury Park Road
Bude
EX23 8HS

Registered Number

06087155 (England and Wales)
SEADRAGON BACKPACKERS LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,6924,018
3,6924,018
Current assets
Debtors3,4591,203
Cash at bank and on hand2,4581,314
5,9172,517
Creditors amounts falling due within one year4(18,684)(5,435)
Net current assets (liabilities)(12,767)(2,918)
Total assets less current liabilities(9,075)1,100
Creditors amounts falling due after one year5(10,000)(14,000)
Net assets(19,075)(12,900)
Capital and reserves
Called up share capital2020
Profit and loss account(19,095)(12,920)
Shareholders' funds(19,075)(12,900)
The financial statements were approved and authorised for issue by the Director on 14 August 2024, and are signed on its behalf by:
ASHTON, Karen Louise
Director
Registered Company No. 06087155
SEADRAGON BACKPACKERS LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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 and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 March 2323,33123,331
Additions896896
At 29 February 2424,22724,227
Depreciation and impairment
At 01 March 2319,31319,313
Charge for year1,2221,222
At 29 February 2420,53520,535
Net book value
At 29 February 243,6923,692
At 28 February 234,0184,018
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security55
Other creditors18,6795,430
Total18,6845,435
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,00014,000
Total10,00014,000
6.Related party transactions
During the year the company occupied, rent free, premises owned by the director. No formal lease agreement exists.
7.Controlling party
The company was controlled by its director, Mrs K L Ashton, throughout the period.