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Company registration number:12353533
THE OLD FORT SEAVIEW LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024
THE OLD FORT SEAVIEW LIMITED
BALANCE SHEET
AS AT 31 March 2024
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets341,60141,601
Tangible assets4113,398140,257
154,999181,858
CURRENT ASSETS
Stocks1,4001,210
Debtors5306,38320,603
Cash at bank and in hand202,520283,905
510,303305,718
CREDITORS
Amounts falling due within one year 6 (497,650) (251,896)
NET CURRENT ASSETS 12,653 53,822
TOTAL ASSETS LESS
CURRENT LIABILITIES 167,652 235,680
PROVISIONS FOR LIABILITIES(10,264)(15,018)
NET ASSETS 157,388 220,662
CAPITAL AND RESERVES
Called-up equity share capital 7 100 100
Profit and loss account 157,288 220,562
SHAREHOLDERS FUNDS 157,388 220,662
For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 6 February 2025 and signed on its behalf.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
..........................................................................
William Simonds
6 February 2025
The annexed notes form part of these financial statements.

THE OLD FORT SEAVIEW LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 January 20221000216,89000216,990
Changes in equity
Total Comprehensive Income003,672003,672
Balance at 31 March 20231000220,56200220,662
Changes in equity
Total comprehensive income00(63,274)00(63,274)
Balance at 31 March 20241000157,28800157,388

THE OLD FORT SEAVIEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies
Statutory information
The company is registered in England and its registered number is 12353533. The company is a private company limited by shares. Its registered office is The Old Fort, Esplanade, Seaview, Isle of Wight,
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible Assets
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and Machinery - 50% per annum on reducing balance
Land and buildings - 20% per annum on cost
Stocks and Work In Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.
Leasing
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Deferred Taxation
Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the near future.
Pension Scheme
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
2.Employees
The average number of persons employed by the company (including directors) during the year was 39.
3.Intangible fixed assets
Goodwill Total
Cost
At start of period 41,601 41,601
At end of period 41,601 41,601
Net Book Values
At start of period 41,601 41,601
At end of period 41,601 41,601
4.Tangible fixed assets
Long Lease Short Lease Plant Total
Cost
At start of period 61,221 50,000 216,048 327,269
Additions 0 0 47,050 47,050
At end of period 61,221 50,000 263,098 374,319
Depreciation
At start of period 12,244 15,000 159,768 187,012
Provided during the period 12,244 10,000 51,666 73,910
At end of period 24,488 25,000 211,434 260,922
Net Book Value
At start of period 48,977 35,000 56,280 140,257
At end of period 36,733 25,000 51,665 113,398
5.Debtors
20242023
££
Due within one year
Amounts owed by group undertakings304,0501,062
Other Debtors78618,795
Prepayments and accrued income1,547746
306,38320,603
6.Creditors due within one year
20242023
££
Trade creditors140,25577,428
Payment received on account44114,823
Bank Loans and Overdrafts51,3210
Corporation Tax01,571
Other taxes and social security costs184,13430,586
Other creditors1,290753
Accruals and deferred income6,72711,940
Loan from directors113,482114,795
497,650 251,896
7. Share capital Alloted, Issued and fully paid
2024 2023
£ £
Ordinary shares of £1 each100100
Total issued share capital100100
8.Pension schemes
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund.