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Registrar

Registration number: 07590686

Seckford Cottages Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Seckford Cottages Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Seckford Cottages Limited

Company Information

Directors

V Sharma

Registered office

Units 3 & 4
Lodge Lane
Great Blakenham
Ipswich
Suffolk
IP6 OLB

Bankers

Lloyds Bank
Cornhill
Ipswich
Suffolk
IP1 1DG

Accountants

Lambert Chapman LLP
Chartered Accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Seckford Cottages Limited

(Registration number: 07590686)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

1,652,594

1,601,578

Debtors

5

13,653

13,653

Cash at bank and in hand

 

387

134

 

1,666,634

1,615,365

Creditors: Amounts falling due within one year

6

(2,484,902)

(2,423,650)

Total assets less current liabilities

 

(818,268)

(808,285)

Creditors: Amounts falling due after more than one year

6

(1,026,013)

(1,031,430)

Net liabilities

 

(1,844,281)

(1,839,715)

Capital and reserves

 

Called up share capital

7

10,000

10,000

Retained earnings

(1,854,281)

(1,849,715)

Shareholders' deficit

 

(1,844,281)

(1,839,715)

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2025
 

V Sharma
Director

 

Seckford Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and the principal place of business is: Units 3 & 4, Lodge Lane, Great Blakenham, Ipswich, Suffolk, IP6 OLB, England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Seckford Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Work in progress

1,652,594

1,601,578

5

Debtors

2024
£

2023
£

Prepayments

33

33

Other debtors

13,620

13,620

13,653

13,653

 

Seckford Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,361

6,416

Trade creditors

 

144

143

Taxation and social security

 

13,236

13,236

Accruals and deferred income

 

2,595

2,600

Other creditors

 

2,462,566

2,401,255

 

2,484,902

2,423,650

Included within creditors are balances with associated companies, whilst these amounts are due on demand it is unlikely they will be repaid in full during the coming year.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

26,013

31,430

Other non-current financial liabilities

 

1,000,000

1,000,000

 

1,026,013

1,031,430

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

6,361

6,416

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

26,013

31,430