Registered number
04241167
SEAR INVESTMENTS LIMITED
Unaudited Filleted Accounts
30 June 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
SEAR INVESTMENTS LIMITED
Registered number: 04241167
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 290,000 290,000
Current assets
Cash at bank and in hand 11,387 8,656
Creditors: amounts falling due within one year 4 (6,515) (7,857)
Net current assets 4,872 799
Total assets less current liabilities 294,872 290,799
Creditors: amounts falling due after more than one year 5 (78,403) (78,220)
Provisions for liabilities (23,387) (23,387)
Net assets 193,082 189,192
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 99,703 99,703
Profit and loss account 93,377 89,487
Shareholder's funds 193,082 189,192
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sejal Mamtora
Director
Approved by the board on 26 February 2025
SEAR INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment Properties
£
Cost/ Valuation Valuation
At 1 July 2023 290,000
At 30 June 2024 290,000
Depreciation
At 30 June 2024 -
Net book value
At 30 June 2024 290,000
At 30 June 2023 290,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan ( see note 6 below) 1,000 2,400
Trade creditors - 200
Taxation and social security costs 912 1,279
Other creditors 4,603 3,978
6,515 7,857
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 78,403 78,220
The bank loan is secured by a morgage over the company Investment Property.
6 Revaluation reserve 2024 2023
£ £
Restated
At 1 July 2023 99,703 80,095
Gain on revaluation of land and buildings - 1,013
Deferred taxation arising on the revaluation of land and buildings - 18,595
At 30 June 2024 99,703 99,703
This related to the gain arising on revaluation of the company's Investment Property at 30 June 2024 , as valued by the Director, based on market value. The Director does not believe there has been any change since the last valuation.
7 Controlling party
The company was under the control of Mrs S Mamtora, a director and shareholder throughout the year.
8 Other information
SEAR INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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