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COMPANY REGISTRATION NUMBER: 01675884
SEYMOURS GARDENS LIMITED
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
SEYMOURS GARDENS LIMITED
Financial Statements
Year ended 30 June 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 8
SEYMOURS GARDENS LIMITED
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,950,579
2,100,244
Investments
6
272,386
100,001
------------
------------
2,222,965
2,200,245
Current assets
Debtors
7
50,581
82,439
Cash at bank and in hand
416,236
449,023
---------
---------
466,817
531,462
Creditors: amounts falling due within one year
8
( 93,385)
( 81,989)
---------
---------
Net current assets
373,432
449,473
------------
------------
Total assets less current liabilities
2,596,397
2,649,718
Provisions
Taxation including deferred tax
( 187,633)
( 226,502)
------------
------------
Net assets
2,408,764
2,423,216
------------
------------
Capital and reserves
Called up share capital
10
100,100
100,100
Other reserves
11
673,588
786,088
Profit and loss account
11
1,635,076
1,537,028
------------
------------
Shareholder's funds
2,408,764
2,423,216
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SEYMOURS GARDENS LIMITED
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:
J R Seymour
Director
Company registration number: 01675884
SEYMOURS GARDENS LIMITED
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Maple Grove Business Centre, Lawrence Road, Hounslow, Middlesex, TW4 6DR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, other than investment properties measured at fair value through profit or loss. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Trade receivable
Trade receivables do not carry any interest and are stated at their original invoice value as reduced by appropriate allowances for estimated irrecoverable amounts.
Trade payable
Trade payables do not carry any interest and are stated at their original invoice value.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover comprises of Management fee receivable and derived from the provision of services falling within the company’s ordinary activities to other companies within the group after deduction of value added tax, and rent receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. In this case, tax is recognised in other comprehensive income. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, Fittings & Equipment
-
25% straight line
Motor Vehicles
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes the purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Investment property
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 July 2023
2,100,000
2,587
5,995
2,108,582
Additions
773
773
Disposals
( 1,611)
( 1,611)
Fair value adjustments
( 150,000)
( 150,000)
------------
-------
-------
------------
At 30 June 2024
1,950,000
1,749
5,995
1,957,744
------------
-------
-------
------------
Depreciation
At 1 July 2023
2,343
5,995
8,338
Charge for the year
437
437
Disposals
( 1,610)
( 1,610)
------------
-------
-------
------------
At 30 June 2024
1,170
5,995
7,165
------------
-------
-------
------------
Carrying amount
At 30 June 2024
1,950,000
579
1,950,579
------------
-------
-------
------------
At 30 June 2023
2,100,000
244
2,100,244
------------
-------
-------
------------
Included within the above is investment property as follows:
£
At 1 July 2023
2,100,000
Fair value adjustments
( 150,000)
------------
At 30 June 2024
1,950,000
------------
The investment property was valued by an FRICS MI Hort registered valuer and registered business valuer from Quintons Commerical Limited on 6 June 2024. The valuations are based on the market value and market rent of the investment property.
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 July 2023
100,001
100,001
Additions
172,386
172,386
Disposals
( 1)
( 1)
---------
---------
---------
At 30 June 2024
100,000
172,386
272,386
---------
---------
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
---------
---------
Carrying amount
At 30 June 2024
100,000
172,386
272,386
---------
---------
---------
At 30 June 2023
100,001
100,001
---------
---------
---------
The market value of the fixed asset investment at the balance sheet date was £184,293.
7. Debtors
2024
2023
£
£
Trade debtors
8,992
Amounts owed by group undertakings and undertakings in which the company has a participating interest
48,472
59,549
Other debtors
2,109
13,898
--------
--------
50,581
82,439
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,807
1,871
Social security and other taxes
40,251
31,754
Other creditors
51,327
48,364
--------
--------
93,385
81,989
--------
--------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
187,633
226,502
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
( 565)
804
Fair value adjustment of investment property
188,198
225,698
---------
---------
187,633
226,502
---------
---------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
25,025
25,025
25,025
25,025
Preferred shares of £ 1 each
75,075
75,075
75,075
75,075
---------
---------
---------
---------
100,100
100,100
100,100
100,100
---------
---------
---------
---------
11. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves - This reserve records fair value gains on investment properties net of deferred tax.