Silverfin false false 30/06/2024 01/07/2023 30/06/2024 David Michael Becconsall (deceased) 10/07/2024 14/05/2012 Teresa Clare Louth 11/12/2023 03 February 2025 The principal activity of the Company during the financial period was that of holding and letting investment property. 08068564 2024-06-30 08068564 bus:Director1 2024-06-30 08068564 bus:Director2 2024-06-30 08068564 2023-06-30 08068564 core:CurrentFinancialInstruments 2024-06-30 08068564 core:CurrentFinancialInstruments 2023-06-30 08068564 core:ShareCapital 2024-06-30 08068564 core:ShareCapital 2023-06-30 08068564 core:RetainedEarningsAccumulatedLosses 2024-06-30 08068564 core:RetainedEarningsAccumulatedLosses 2023-06-30 08068564 core:InvestmentPropertyIncludedWithinPPE 2023-06-30 08068564 core:InvestmentPropertyIncludedWithinPPE 2024-06-30 08068564 bus:OrdinaryShareClass1 2024-06-30 08068564 2023-07-01 2024-06-30 08068564 bus:FilletedAccounts 2023-07-01 2024-06-30 08068564 bus:SmallEntities 2023-07-01 2024-06-30 08068564 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08068564 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08068564 bus:Director1 2023-07-01 2024-06-30 08068564 bus:Director2 2023-07-01 2024-06-30 08068564 2022-07-01 2023-06-30 08068564 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 08068564 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08068564 (England and Wales)

SEA LADY LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SEA LADY LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SEA LADY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
SEA LADY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 323,076 323,076
323,076 323,076
Current assets
Cash at bank and in hand 10,752 13,100
10,752 13,100
Creditors: amounts falling due within one year 4 ( 231,563) ( 239,621)
Net current liabilities (220,811) (226,521)
Total assets less current liabilities 102,265 96,555
Net assets 102,265 96,555
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account 102,263 96,553
Total shareholder's funds 102,265 96,555

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sea Lady Limited (registered number: 08068564) were approved and authorised for issue by the Director on 03 February 2025. They were signed on its behalf by:

Teresa Clare Louth
Director
SEA LADY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SEA LADY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sea Lady Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom. The principal place of business is 11 Pomeroy Avenue, Brixham, Devon, TQ5 8PN.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 1

3. Tangible assets

Investment property Total
£ £
Cost
At 01 July 2023 323,076 323,076
At 30 June 2024 323,076 323,076
Accumulated depreciation
At 01 July 2023 0 0
At 30 June 2024 0 0
Net book value
At 30 June 2024 323,076 323,076
At 30 June 2023 323,076 323,076

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 3,357
Amounts owed to director 227,261 233,110
Accruals 2,999 3,000
Taxation and social security 1,303 154
231,563 239,621

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Balance owed to directors 227,261 233,110