Company registration number 09183955 (England and Wales)
DEAL BY SEA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DEAL BY SEA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DEAL BY SEA LIMITED (REGISTERED NUMBER: 09183955)
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 March 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,303,355
669,746
Current assets
Stocks
1,000
13,517
Debtors
5
1,647
11,596
Cash at bank and in hand
9,382
16,306
12,029
41,419
Creditors: amounts falling due within one year
6
(106,462)
(807,401)
Net current liabilities
(94,433)
(765,982)
Total assets less current liabilities
1,208,922
(96,236)
Creditors: amounts falling due after more than one year
7
(771,293)
-
0
Provisions for liabilities
(137,210)
-
0
Net assets/(liabilities)
300,419
(96,236)
Capital and reserves
Called up share capital
8
100
100
Non-distributable profits reserve
10
582,231
-
0
Distributable profit and loss reserves
(281,912)
(96,336)
Total equity
300,419
(96,236)

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 period ended 31 December 2023 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 period 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 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 December 2024 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 PERIOD ENDED 31 DECEMBER 2023
- 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
Reporting period

The company accounts are presented for a period shorter than a year, covering the period from the 1st of April 2023 to the 31st of December 2023.

1.2
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.

1.3
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.

1.4
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:

DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
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.

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
Plant and machinery
- 25% on reducing balance
Fixtures and fittings
- 25% on reducing balance

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.

1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.8
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 period was:

2023
2023
Number
Number
Total
5
4
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023
581,196
561,916
-
0
1,143,112
Additions
-
0
-
0
4,985
4,985
Disposals
-
0
(561,916)
(1,484)
(563,400)
Revaluation
718,804
-
0
-
0
718,804
At 31 December 2023
1,300,000
-
0
3,501
1,303,501
Depreciation and impairment
At 1 April 2023
-
0
473,366
-
0
473,366
Depreciation charged in the period
-
0
-
0
146
146
Eliminated in respect of disposals
-
0
(473,366)
-
0
(473,366)
At 31 December 2023
-
0
-
0
146
146
Carrying amount
At 31 December 2023
1,300,000
-
0
3,355
1,303,355
At 31 March 2023
581,196
88,550
-
0
669,746

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
2023
2023
Amounts falling due within one year:
£
£
Trade debtors
1,647
1,322
Other debtors
-
0
10,274
1,647
11,596
DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2023
£
£
Bank loans
-
0
35,603
Trade creditors
23,022
31,946
Taxation and social security
20,885
6,831
Other creditors
62,555
733,021
106,462
807,401
7
Creditors: amounts falling due after more than one year
2023
2023
£
£
Other creditors
771,293
-
0
8
Called up share capital
2023
2023
2023
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 £582,231 (2022: £nil) relating to the movement in fair value of the company's freehold property.

10
Non-distributable profits reserve
2023
2023
£
£
At the beginning of the period
-
-
Non distributable profits in the period
582,231
-
At the end of the period
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.

DEAL BY SEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 7 -
12
Related party transactions

Included within other creditors is a balance of £729,230 (2022: £nil) due to related parties.

13
Parent company

The parent company is Clarendon Holdings Limited. Deal by Sea Limited is a wholly-owned subsidiary.

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