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REGISTERED NUMBER: 12839023 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

SEAFIELD RENTALS LIMITED

SEAFIELD RENTALS LIMITED (REGISTERED NUMBER: 12839023)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEAFIELD RENTALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: Mr P A Gowers
Mrs L P Gowers





REGISTERED OFFICE: Langdowns DFK
Fleming Court
Leigh Road
Eastleigh
Hampshire
SO50 9PD





REGISTERED NUMBER: 12839023 (England and Wales)






SEAFIELD RENTALS LIMITED (REGISTERED NUMBER: 12839023)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 155,000 160,000

CURRENT ASSETS
Cash at bank 14,887 11,447

CREDITORS
Amounts falling due within one year 5 61,242 61,062
NET CURRENT LIABILITIES (46,355 ) (49,615 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,645

110,385

CREDITORS
Amounts falling due after more than one
year

6

(105,013

)

(105,013

)

PROVISIONS FOR LIABILITIES (930 ) -
NET ASSETS 2,702 5,372

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,602 5,272
2,702 5,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SEAFIELD RENTALS LIMITED (REGISTERED NUMBER: 12839023)

BALANCE SHEET - continued
31ST AUGUST 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th January 2025 and were signed on its behalf by:




Mr P A Gowers - Director



Mrs L P Gowers - Director


SEAFIELD RENTALS LIMITED (REGISTERED NUMBER: 12839023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Seafield Rentals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is the value of letting services provided to tenants during the year.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. Changes in fair value are recognized in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SEAFIELD RENTALS LIMITED (REGISTERED NUMBER: 12839023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2023 160,000
Revaluations (5,000 )
At 31st August 2024 155,000
NET BOOK VALUE
At 31st August 2024 155,000
At 31st August 2023 160,000

Investment property comprises residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31st August 2024 is represented by:
£   
Valuation in 2023 9,900
Valuation in 2024 (5,000 )
Cost 150,100
155,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 61,242 61,062

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 7) 105,013 105,013

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 105,013 105,013

The bank loan is an interest only mortgage and secured by a fixed charge over the investment property.