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Registered number: 9751063
SEELNS LIMITED
Financial Statements
For The Year Ended 31 August 2024
Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr GIRETHARAN THANGARAJAH
Mr ALAGARATNAM YOGARAJAH
Company Number 9751063
Registered Office 332-338 HIGH STREET NORTH
EASTHAM
LONDON
E12 6PH
Business 332-338 HIGH STREET NORTH
EASTHAM
LONDON
E12 6PH
Accountants Tamsons Accounting & Tax Consultancy Ltd
Financial Accountants'
53-55 College Road
Bromley
Kent
BR1 3QG
Page 1
Page 2
Balance Sheet
Registered number: 9751063
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 132,353 139,318
Tangible Assets 5 11,235 13,702
143,588 153,020
CURRENT ASSETS
Stocks 6 532,735 575,215
Debtors 7 2,802 12,611
Cash at bank and in hand 414,381 144,768
949,918 732,594
Creditors: Amounts Falling Due Within One Year 8 (262,432 ) (176,967 )
NET CURRENT ASSETS (LIABILITIES) 687,486 555,627
TOTAL ASSETS LESS CURRENT LIABILITIES 831,074 708,647
Creditors: Amounts Falling Due After More Than One Year 9 (22,713 ) (20,881 )
NET ASSETS 808,361 687,766
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 808,261 687,666
SHAREHOLDERS' FUNDS 808,361 687,766
Page 2
Page 3
For the year ending 31 August 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr GIRETHARAN THANGARAJAH
Director
Mr ALAGARATNAM YOGARAJAH
Director
22/11/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
SEELNS LIMITED Registered number 9751063 is a limited by shares company incorporated in England & Wales. The Registered Office is 332-338 HIGH STREET NORTH, EASTHAM, LONDON, E12 6PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20.... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% @ WDV
Computer Equipment 20% @ cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 33)
34 33
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 210,000
As at 31 August 2024 210,000
...CONTINUED
Page 4
Page 5
Amortisation
As at 1 September 2023 70,682
Provided during the period 6,965
As at 31 August 2024 77,647
Net Book Value
As at 31 August 2024 132,353
As at 1 September 2023 139,318
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 September 2023 64,404
As at 31 August 2024 64,404
Depreciation
As at 1 September 2023 50,702
Provided during the period 2,467
As at 31 August 2024 53,169
Net Book Value
As at 31 August 2024 11,235
As at 1 September 2023 13,702
6. Stocks
2024 2023
£ £
Materials 532,735 575,215
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
7. Debtors
2024 2023
£ £
Due within one year
Other debtors - 7,455
VAT 2,802 2,218
Other taxes and social security - 2,938
2,802 12,611
Shop Insurance pre paid £7454.56 for 2024
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 98,703 112,609
Corporation tax 62,501 24,269
Other taxes and social security 1,090 -
Directors' loan accounts 100,138 40,089
262,432 176,967
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors-O/S Wages 22,713 20,881
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr GIRETHARAN THANGARAJAH 30,000 20,000
Mr ALAGARATNAM YOGARAJAH 30,000 20,000
12. Ultimate Controlling Party
The company's ultimate controlling party is both directors are by virtue of his ownership of 100% of the issued share capital in the company.
Page 6