Caseware UK (AP4) 2023.0.135 2023.0.135 trueDevelopment of building projects2023-05-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI062819 2023-05-01 2024-04-30 NI062819 2022-05-01 2023-04-30 NI062819 2024-04-30 NI062819 2023-04-30 NI062819 c:Director1 2023-05-01 2024-04-30 NI062819 c:Director2 2023-05-01 2024-04-30 NI062819 c:RegisteredOffice 2023-05-01 2024-04-30 NI062819 c:Agent1 2023-05-01 2024-04-30 NI062819 d:CurrentFinancialInstruments 2024-04-30 NI062819 d:CurrentFinancialInstruments 2023-04-30 NI062819 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 NI062819 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 NI062819 d:ShareCapital 2024-04-30 NI062819 d:ShareCapital 2023-04-30 NI062819 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 NI062819 d:RetainedEarningsAccumulatedLosses 2024-04-30 NI062819 d:RetainedEarningsAccumulatedLosses 2023-04-30 NI062819 c:OrdinaryShareClass1 2023-05-01 2024-04-30 NI062819 c:OrdinaryShareClass1 2024-04-30 NI062819 c:OrdinaryShareClass1 2023-04-30 NI062819 c:FRS102 2023-05-01 2024-04-30 NI062819 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI062819 c:FullAccounts 2023-05-01 2024-04-30 NI062819 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI062819 2 2023-05-01 2024-04-30 NI062819 4 2023-05-01 2024-04-30 NI062819 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Seehaven Properties Limited
For the Year Ended 30 April 2024





































Registered number: NI062819

 
Seehaven Properties Limited
 

Company Information


Directors
W Chambers 
J Chambers 




Registered number
NI062819



Registered office
7 Moneydarragh Road
Annalong

Newry

Northern Ireland

BT34 4TY




Accountants
Grant Thornton Advisors (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Ulster Bank
29 Upper Square

Castlewellan

Co. Down

BT31 9DD




Solicitors
Shean Dickson Merrick
14-16 High Street

Belfast

BT1 2BS





 
Seehaven Properties Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7


  
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Independent Accountant's Report to the directors of the unaudited financial statements of Seehaven Properties Limited for the Year Ended 30 April 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Seehaven Properties Limited for the year ended 30 April 2024, which comprise the Statement of comprehensive income, the Balance sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of Seehaven Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Seehaven Properties Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seehaven Properties Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the year ended 30 April 2024 and you have acknowledged on the Balance sheet as at 30 April 2024 your duty to ensure that Seehaven Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Seehaven Properties Limited is exempt from the statutory audit requirement for the year ended 30 April 2024.

We have not been instructed to carry out an audit or review the financial statements of Seehaven Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton Advisors (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   21 January 2025
Page 1

 
Seehaven Properties Limited
Registered number:NI062819

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
1,620,000
1,620,000

Debtors: amounts falling due within one year
 6 
40,000
-

Cash at bank and in hand
 7 
42,387
36,651

  
1,702,387
1,656,651

Creditors: amounts falling due within one year
 8 
(1,438,597)
(1,440,769)

Net current assets
  
 
 
263,790
 
 
215,882

Total assets less current liabilities
  
263,790
215,882

  

Net assets
  
263,790
215,882


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
 10 
263,690
215,782

  
263,790
215,882


Page 2

 
Seehaven Properties Limited
Registered number:NI062819

Balance sheet (continued)
As at 30 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 statement of comprehensive income 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 on 21 January 2025.




W Chambers
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
Seehaven Properties Limited
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Seehaven Properties Limited is a private limited company that is limited by shares and incorporated in Northern Ireland. The registered office is 7 Moneydarragh Road, Annalong, Newry, Co. Down, BT34 4TY. 
The principal activity of the company is the development of building projects.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

These financial statements are presented in Sterling (£). 

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business

 
2.3

Revenue

Turnover represents proceeds from sale of properties and rental income received and receivable from the letting out of property. Revenue in respect of sale of property is recognised on completion of contracts.

 
2.4

Interest income

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

 
2.5

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
Seehaven Properties Limited
 

Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

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 includes all direct costs and an appropriate proportion of fixed and variable overheads.
At each balance sheet 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

 
2.8

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.

 
2.9

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.

 
2.10

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

 
Seehaven Properties Limited
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a)      Carrying value of stocks
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.
 


4.


Employees

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


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,620,000
1,620,000

1,620,000
1,620,000



6.


Debtors

2024
2023
£
£


Amounts owed by related party
40,000
-

40,000
-



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
42,387
36,651

42,387
36,651


Page 6

 
Seehaven Properties Limited
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,414,108
1,414,108

Corporation tax
15,947
10,620

Other creditors
8,542
8,541

Accruals and deferred income
-
7,500

1,438,597
1,440,769



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Reserves

Profit & loss account

Includes all current and prior period retained profits and losses.


11.


Related party transactions

The company had the following related party transactions:
The company has availed of the exemption under FRS102 section 33 which does not require the disclosure of transactions entered into between subsidiary undertaking which is wholly owned by a member of the group.

During the year the company had net transactions with a company related by virtue of common control of £40,000. At the balance sheet date the amount owed from the related party was £40,000. The loan is unsecured, interest free and payable upon demand.
At the balance sheet date there was an amount owing to the directors of £8,514 (2023: £8,514). The loan is unsecured, interest free and payable upon demand.


12.


Controlling party

The company's parent undertaking is Shellco Seafoods Limited, a company incorporated in Northern Ireland. The company's ultimate controlling party is Bonumcorpus (No. 53) Limited by virtue of their shareholding in Shellco Bay Seafoods Limited.


Page 7