Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false2023-05-09false0No description of principal activity0truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14856394 2023-05-08 14856394 2023-05-09 2024-05-31 14856394 2022-06-01 2023-05-08 14856394 2024-05-31 14856394 c:Director1 2023-05-09 2024-05-31 14856394 d:ComputerEquipment 2023-05-09 2024-05-31 14856394 d:ComputerEquipment 2024-05-31 14856394 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-09 2024-05-31 14856394 d:CurrentFinancialInstruments 2024-05-31 14856394 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14856394 d:ShareCapital 2024-05-31 14856394 d:RetainedEarningsAccumulatedLosses 2024-05-31 14856394 c:OrdinaryShareClass1 2023-05-09 2024-05-31 14856394 c:OrdinaryShareClass1 2024-05-31 14856394 c:FRS102 2023-05-09 2024-05-31 14856394 c:AuditExempt-NoAccountantsReport 2023-05-09 2024-05-31 14856394 c:FullAccounts 2023-05-09 2024-05-31 14856394 c:PrivateLimitedCompanyLtd 2023-05-09 2024-05-31 14856394 e:PoundSterling 2023-05-09 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14856394





SEASURFUK LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024




















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SEASURFUK LIMITED
REGISTERED NUMBER:14856394

BALANCE SHEET
AS AT 31 MAY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
322

  
322

Current assets
  

Stocks
 5 
2,881

Cash at bank and in hand
  
31

  
2,912

Creditors: amounts falling due within one year
 6 
(9,502)

Net current (liabilities)/assets
  
 
 
(6,590)

Total assets less current liabilities
  
(6,268)

  

Net (liabilities)/assets
  
(6,268)


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
(6,269)

  
(6,268)


Page 1

 
SEASURFUK LIMITED
REGISTERED NUMBER:14856394
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2025.




M Astley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SEASURFUK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Seasurfuk Limited is a private company, limited by shares, domiciled in England. The registered office is 9 Washbrook View, Ottery St. Mary, England, EX11 1EP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on the going concern basis, despite the company being in a net
liability position of £6,268. The director continues to support the company and has considered the
current financial position of the company, as well as the availability of working capital and has
concluded that it is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SEASURFUK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 

Page 4

 
SEASURFUK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The Company has no employees other than the director, who did not receive any remuneration.

Page 5

 
SEASURFUK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
430



At 31 May 2024

430



Depreciation


Charge for the Period on owned assets
108



At 31 May 2024

108



Net book value



At 31 May 2024
322


5.


Stocks

2024
£

Finished goods and goods for resale
2,881

2,881



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
502

Other creditors
8,220

Accruals and deferred income
780

9,502


Page 6

 
SEASURFUK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On the date of incorporation, 9 May 2023, 1 Ordinary share was issued with a value of £1.00.

 
Page 7