2023-06-012024-05-312024-05-31false12024711Seagull Residential Properties 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Seagull Residential Properties Ltd

Registered Number
12024711
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Seagull Residential Properties Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Mrs J M Higson
Prof S P J Higson

Registered Address

114 High Street
Cranfield
MK43 0DG

Registered Number

12024711 (England and Wales)
Seagull Residential Properties Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3718,865604,223
718,865604,223
Current assets
Cash at bank and on hand14,28018,339
14,28018,339
Creditors amounts falling due within one year4(324,987)(299,014)
Net current assets (liabilities)(310,707)(280,675)
Total assets less current liabilities408,158323,548
Creditors amounts falling due after one year5(511,956)(429,851)
Net assets(103,798)(106,303)
Capital and reserves
Called up share capital2020
Profit and loss account(103,818)(106,323)
Shareholders' funds(103,798)(106,303)
The financial statements were approved and authorised for issue by the Board of Directors on 9 January 2025, and are signed on its behalf by:
Prof S P J Higson
Director
Registered Company No. 12024711
Seagull Residential Properties Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The company is continuing with the support of the directors.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 June 23603,0361,930604,966
Additions114,938-114,938
At 31 May 24717,9741,930719,904
Depreciation and impairment
At 01 June 23-743743
Charge for year-296296
At 31 May 24-1,0391,039
Net book value
At 31 May 24717,974891718,865
At 31 May 23603,0361,187604,223
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-55
Amounts owed to related parties323,067297,148
Accrued liabilities and deferred income1,9201,811
Total324,987299,014
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts511,956429,851
Total511,956429,851