REGISTERED NUMBER: |
Seakat Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
REGISTERED NUMBER: |
Seakat Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
Seakat Properties Limited (Registered number: 11192684) |
Contents of the Financial Statements |
for the Year Ended 31 March 2025 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Seakat Properties Limited |
Company Information |
for the Year Ended 31 March 2025 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Seakat Properties Limited (Registered number: 11192684) |
Balance Sheet |
31 March 2025 |
31.3.25 | 31.3.24 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Seakat Properties Limited (Registered number: 11192684) |
Balance Sheet - continued |
31 March 2025 |
31.3.25 | 31.3.24 |
Notes | £ | £ |
Capital and reserves |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings |
Shareholders' funds |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Seakat Properties Limited (Registered number: 11192684) |
Notes to the Financial Statements |
for the Year Ended 31 March 2025 |
1. | Statutory information |
Seakat Properties Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoiced value of services provided net of value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Seakat Properties Limited (Registered number: 11192684) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 April 2024 |
Additions |
At 31 March 2025 |
Depreciation |
At 1 April 2024 |
Charge for year |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 April 2024 |
and 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
Fair value at 31 March 2025 is represented by: |
£ |
Valuation in 2025 | 680,000 |
Seakat Properties Limited (Registered number: 11192684) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
5. | Investment property - continued |
If investment property had not been revalued they would have been included at the following historical cost: |
31.3.25 | 31.3.24 |
£ | £ |
Cost | 447,481 | 447,481 |
Investment property was valued on an open market basis on 31 March 2025 by the director . |
6. | Debtors: amounts falling due within one year |
31.3.25 | 31.3.24 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
31.3.25 | 31.3.24 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Corporation tax |
Other creditors |
Directors' current accounts | 120,375 | 111,781 |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
31.3.25 | 31.3.24 |
£ | £ |
Bank loans - 2-5 years |
Bank loans | 249,083 | 249,083 |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans |
Seakat Properties Limited (Registered number: 11192684) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
9. | Secured debts |
The following secured debts are included within creditors: |
31.3.25 | 31.3.24 |
£ | £ |
Bank loans | 249,083 | 249,083 |
10. | Provisions for liabilities |
31.3.25 | 31.3.24 |
£ | £ |
Deferred tax | 44,179 | 44,179 |
Deferred |
tax |
£ |
Balance at 1 April 2024 |
Balance at 31 March 2025 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.25 | 31.3.24 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
12. | Reserves |
Fair |
value |
reserve |
£ |
At 1 April 2024 |
and 31 March 2025 |