Company Registration No. 10023482 (England and Wales)
Sealton Ltd
Unaudited accounts
for the year ended 29 February 2024
Sealton Ltd
Unaudited accounts
Contents
Sealton Ltd
Company Information
for the year ended 29 February 2024
Directors
Mr M Egerton
Mr M Seal
Company Number
10023482 (England and Wales)
Registered Office
Boyes Barn
Owslebury
Winchester
Hampshire
SO21 1LT
Sealton Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
150,378
189,418
Inventories
118,000
58,000
Cash at bank and in hand
1,629
26,982
Creditors: amounts falling due within one year
(199,747)
(165,026)
Net current assets
119,559
31,373
Total assets less current liabilities
269,937
220,791
Creditors: amounts falling due after more than one year
(108,681)
(85,681)
Net assets
161,256
135,110
Called up share capital
180,471
180,471
Profit and loss account
(19,215)
(45,361)
Shareholders' funds
161,256
135,110
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by
Mr M Egerton
Director
Company Registration No. 10023482
Sealton Ltd
Notes to the Accounts
for the year ended 29 February 2024
Sealton Ltd is a private company, limited by shares, registered in England and Wales, registration number 10023482. The registered office is Boyes Barn, Owslebury, Winchester, Hampshire, SO21 1LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Computer equipment
33% Straight Line
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
568,794
4,333
573,127
At 29 February 2024
568,794
4,333
573,127
At 1 March 2023
380,821
2,888
383,709
Charge for the year
37,595
1,445
39,040
At 29 February 2024
418,416
4,333
422,749
At 29 February 2024
150,378
-
150,378
At 28 February 2023
187,973
1,445
189,418
Sealton Ltd
Notes to the Accounts
for the year ended 29 February 2024
Amounts falling due within one year
Other debtors
81,417
111,417
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,817
21,127
Taxes and social security
18,113
8,392
Other creditors
79,797
55,797
Loans from directors
91,020
79,710
7
Creditors: amounts falling due after more than one year
2024
2023
Non-equity preference shares
40,000
64,000
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).