REGISTERED NUMBER: 01331799 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 30 NOVEMBER 2024

FOR

SEAZONE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs K Spyrou

SECRETARY:

Mrs K Spyrou

REGISTERED OFFICE:

12 Gateway Mews

Ring Way

London

N11 2UT

REGISTERED NUMBER:

01331799 (England and Wales)

ACCOUNTANTS:

G. George Associates Limited

Chartered Certified Accountants

12 Gateway Mews

Ring Way

London

N11 2UT

FIXED ASSETS

Tangible assets

4

7,673

7,162

Investment property

5

1,635,000

2,979,492

1,642,673

2,986,654

CURRENT ASSETS

Debtors

6

53,606

-

Cash at bank

268,075

305,484

321,681

305,484

CREDITORS

Amounts falling due within one year

7

191,038

27,659

NET CURRENT ASSETS

130,643

277,825

TOTAL ASSETS LESS CURRENT LIABILITIES

1,773,316

3,264,479

CREDITORS

Amounts falling due after more than one year

8

(520,903

)

(1,008,099

)

PROVISIONS FOR LIABILITIES

(249,773

)

(337,538

)

NET ASSETS

1,002,640

1,918,842

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

1,001,579

1,534,864

Retained earnings

961

383,878

SHAREHOLDERS' FUNDS

1,002,640

1,918,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2025 and were signed by:

Mrs K Spyrou - Director

1.	STATUTORY INFORMATION

SEAZONE LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

Taxation

Taxation for the period 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2023

31,512

14,639

9,377

55,528

Additions

4,556

-

-

4,556

At 30 November 2024

36,068

14,639

9,377

60,084

DEPRECIATION

At 1 July 2023

27,853

13,540

6,973

48,366

Charge for period

2,805

389

851

4,045

At 30 November 2024

30,658

13,929

7,824

52,411

NET BOOK VALUE

At 30 November 2024

5,410

710

1,553

7,673

At 30 June 2023

3,659

1,099

2,404

7,162

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2023

2,979,492

Disposals

(1,225,000

)

Revaluations

(119,492

)

At 30 November 2024

1,635,000

NET BOOK VALUE

At 30 November 2024

1,635,000

At 30 June 2023

2,979,492

Fair value at 30 November 2024 is represented by:

£

Valuation in 2014

970,843

Valuation in 2017

350,000

Valuation in 2024

(69,492

)

Cost

383,649

1,635,000

If investment property had not been revalued it would have been included at the following historical cost:

30.11.24

30.6.23

£

£

Cost

383,649

1,107,090

Investment properties were valued on an open market basis on 30 November 2024 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.6.23

£

£

Other debtors

53,606

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.6.23

£

£

Taxation and social security

4,867

10,325

Other creditors

186,171

17,334

191,038

27,659

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.6.23

£

£

Bank loans

520,903

1,008,099

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

520,903

1,008,099

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.24

30.6.23

£

£

Bank loans

520,903

1,008,099

10.

RESERVES

Fair

value

reserve

£

At 1 July 2023

1,534,864

Fair value reserve

(533,285

)

At 30 November 2024

1,001,579

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.