Company registration number 09183955 (England and Wales)
DEAL BY SEA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DEAL BY SEA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DEAL BY SEA LIMITED (REGISTERED NUMBER: 09183955)
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,466,780
1,303,355
Current assets
Stocks
1,000
1,000
Debtors
5
24,507
1,647
Cash at bank and in hand
9,791
9,382
35,298
12,029
Creditors: amounts falling due within one year
6
(92,680)
(106,462)
Net current liabilities
(57,382)
(94,433)
Total assets less current liabilities
1,409,398
1,208,922
Creditors: amounts falling due after more than one year
7
(768,640)
(771,293)
Provisions for liabilities
(168,261)
(137,210)
Net assets
472,497
300,419
Capital and reserves
Called up share capital
8
100
100
Non-distributable profits reserve
10
703,731
582,231
Distributable profit and loss reserves
(231,334)
(281,912)
Total equity
472,497
300,419
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DEAL BY SEA LIMITED (REGISTERED NUMBER: 09183955)
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 March 2025 and are signed on its behalf by:
Mr O Cosneanu
Mr T J W Taylor
Director
Director
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Deal by Sea Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, England, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably;
It is probable that the company will receive the consideration due under the contract;
The stage of completion of the contract at the end of the reporting period can be measured reliably and;
The costs incurred and the costs to complete the contract can be measured reliably
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
No depreciation provided
Fixtures and fittings
- 25% on reducing balance
Computers
- 33% on straight-line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2024
1,300,000
3,501
1,303,501
Additions
15,785
908
16,693
Revaluation
150,000
150,000
At 31 December 2024
1,450,000
19,286
908
1,470,194
Depreciation and impairment
At 1 January 2024
146
146
Depreciation charged in the year
3,116
152
3,268
At 31 December 2024
3,262
152
3,414
Carrying amount
At 31 December 2024
1,450,000
16,024
756
1,466,780
At 31 December 2023
1,300,000
3,355
1,303,355
The fair value of the freehold property has been arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market value basis by a reference to market evidence of transaction prices for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,507
1,647
Other debtors
7,000
24,507
1,647
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34,845
23,022
Taxation and social security
38,458
20,885
Other creditors
19,377
62,555
92,680
106,462
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
768,640
771,293
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
9
Reserves
Included within reserves is a non-distributable sum of £703,731 (2023: £582,231) relating to the movement in fair value of the company's freehold property.
10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
582,231
-
Non distributable profits in the year
121,500
582,231
At the end of the year
703,731
582,231
11
Financial commitments, guarantees and contingent liabilities
The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.
12
Related party transactions
Included within other creditors is a balance of £758,481 (2023: £729,230) due to related parties.
13
Parent company
The parent company is Clarendon Holdings Limited. Deal by Sea Limited is a wholly-owned subsidiary.