Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-052023-04-06falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00581455 2023-04-06 2024-04-05 00581455 2022-04-06 2023-04-05 00581455 2024-04-05 00581455 2023-04-05 00581455 c:Director1 2023-04-06 2024-04-05 00581455 c:Director3 2023-04-06 2024-04-05 00581455 d:Buildings 2023-04-06 2024-04-05 00581455 d:Buildings 2024-04-05 00581455 d:Buildings 2023-04-05 00581455 d:Buildings d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 00581455 d:PlantMachinery 2023-04-06 2024-04-05 00581455 d:PlantMachinery 2024-04-05 00581455 d:PlantMachinery 2023-04-05 00581455 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 00581455 d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 00581455 d:CurrentFinancialInstruments 2024-04-05 00581455 d:CurrentFinancialInstruments 2023-04-05 00581455 d:Non-currentFinancialInstruments 2024-04-05 00581455 d:Non-currentFinancialInstruments 2023-04-05 00581455 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 00581455 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 00581455 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-05 00581455 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-05 00581455 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-05 00581455 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-05 00581455 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-05 00581455 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-05 00581455 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-05 00581455 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-05 00581455 d:ShareCapital 2024-04-05 00581455 d:ShareCapital 2023-04-05 00581455 d:RevaluationReserve 2023-04-06 2024-04-05 00581455 d:RevaluationReserve 2024-04-05 00581455 d:RevaluationReserve 2023-04-05 00581455 d:RetainedEarningsAccumulatedLosses 2024-04-05 00581455 d:RetainedEarningsAccumulatedLosses 2023-04-05 00581455 c:FRS102 2023-04-06 2024-04-05 00581455 c:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 00581455 c:FullAccounts 2023-04-06 2024-04-05 00581455 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00581455 2 2023-04-06 2024-04-05 00581455 5 2023-04-06 2024-04-05 00581455 6 2023-04-06 2024-04-05 00581455 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: 00581455










WILLIAM SEAMAN (YAXHAM) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2024

 
WILLIAM SEAMAN (YAXHAM) LTD
REGISTERED NUMBER: 00581455

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,005,199
990,815

Investments
 5 
18
18

  
1,005,217
990,833

Current assets
  

Stocks
  
69,137
104,519

Debtors: amounts falling due within one year
 6 
67,721
69,465

Cash at bank and in hand
 7 
83,321
75,061

  
220,179
249,045

Creditors: amounts falling due within one year
 8 
(345,633)
(413,501)

Net current liabilities
  
 
 
(125,454)
 
 
(164,456)

Total assets less current liabilities
  
879,763
826,377

Creditors: amounts falling due after more than one year
 9 
(84,694)
(89,307)

Provisions for liabilities
  

Deferred tax
  
(3,947)
(351)

  
 
 
(3,947)
 
 
(351)

Net assets
  
791,122
736,719


Capital and reserves
  

Called up share capital 
  
56,000
56,000

Revaluation reserve
 11 
382,877
382,877

Profit and loss account
 11 
352,245
297,842

  
791,122
736,719


Page 1

 
WILLIAM SEAMAN (YAXHAM) LTD
REGISTERED NUMBER: 00581455
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
W J Vincent
................................................
T C Sisson
Director
Director


Date: 24 December 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

William Seaman (Yaxham) Ltd is a private limited company limited by shares and incorporated in England and Wales, registration number 00581455. The registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods..

Depreciation is provided on the following basis:

Freehold property
-
2% straight line on buildings
Plant & machinery
-
Between 28.125% and 15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income Statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 6 April 2023
1,205,572
157,561
1,363,133


Additions
-
15,791
15,791



At 5 April 2024

1,205,572
173,352
1,378,924



Depreciation


At 6 April 2023
216,162
156,156
372,318


Charge for the year on owned assets
-
1,407
1,407



At 5 April 2024

216,162
157,563
373,725



Net book value



At 5 April 2024
989,410
15,789
1,005,199



At 5 April 2023
989,410
1,405
990,815

Page 6

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 6 April 2023
18



At 5 April 2024
18





6.


Debtors

2024
2023
£
£


Trade debtors
64,628
54,842

Other debtors
-
14,623

Prepayments and accrued income
3,093
-

67,721
69,465



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
83,321
75,061

Less: bank overdrafts
(136,944)
(98,819)

(53,623)
(23,758)


Page 7

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
136,944
98,819

Other loans
4,613
4,471

Trade creditors
18,619
47,421

Corporation tax
10,623
20,126

Other taxation and social security
3,250
-

Other creditors
165,323
237,664

Accruals and deferred income
6,261
5,000

345,633
413,501



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
84,694
89,307

84,694
89,307


Page 8

 
WILLIAM SEAMAN (YAXHAM) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
4,613
4,471


4,613
4,471

Amounts falling due 1-2 years

Other loans
4,751
4,613


4,751
4,613

Amounts falling due 2-5 years

Other loans
15,116
14,677


15,116
14,677

Amounts falling due after more than 5 years

Other loans
64,828
70,018

64,828
70,018

89,308
93,779



11.


Reserves

Revaluation reserve

The revaluation reserve of £382,877 (2022: £382,877) is from the revaluation of freehold property in July 1981, adjusted for disposals. No revaluations have taken place during the year.

Page 9