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REGISTERED NUMBER: 07186816 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 18 MARCH 2023 TO 15 MARCH 2024

FOR

THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED

THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED (REGISTERED NUMBER: 07186816)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 18 MARCH 2023 TO 15 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED (REGISTERED NUMBER: 07186816)

BALANCE SHEET
15 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - 318

CURRENT ASSETS
Debtors 5 669,717 548,881
Cash at bank 16,397 6,066
686,114 554,947
CREDITORS
Amounts falling due within one year 6 555,627 486,132
NET CURRENT ASSETS 130,487 68,815
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,487

69,133

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 129,487 68,133
130,487 69,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 15 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 15 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2025 and were signed by:





K G F D Magalhaes - Director


THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED (REGISTERED NUMBER: 07186816)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 18 MARCH 2023 TO 15 MARCH 2024


1. STATUTORY INFORMATION

The South Sea Import Export Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07186816

Registered office: 58 Lever Street
Northern Quarter
Manchester
M1 1FJ

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.

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.
Plant and machinery - Straight line over 5 years
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED (REGISTERED NUMBER: 07186816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 18 MARCH 2023 TO 15 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 18 March 2023
and 15 March 2024 12,320 13,450 25,770
DEPRECIATION
At 18 March 2023 12,320 13,132 25,452
Charge for period - 318 318
At 15 March 2024 12,320 13,450 25,770
NET BOOK VALUE
At 15 March 2024 - - -
At 17 March 2023 - 318 318

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 12,250 12,250
Other debtors 657,467 536,631
669,717 548,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,679 7,507
Amounts owed to group undertakings 231,041 245,941
Tax 99,407 128,184
Accrued expenses 196,500 104,500
555,627 486,132

THE SOUTH SEA IMPORT EXPORT COMPANY
LIMITED (REGISTERED NUMBER: 07186816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 18 MARCH 2023 TO 15 MARCH 2024


7. RELATED PARTY DISCLOSURES

The company is controlled by its directors, throughout the current period and previous year.

As at the year end Bem Brasil Limited, a company which the director K Magalhaes has an interest, owed £12,250 (2023: - £12,250).
At the end of the period a Management charge has been accrued for services provided from Bem Brasil Limited of £92,000 (2023: NIL)

As at the year end Brasil Restaurants Limited, a company which the director K Magalhaes has an interest, was owed £41,220 (2023: - £41,220).


As at the year end Bem Brasil Liverpool Limited, a company which the director K Magalhaes has an interest, was owed £183,075 (2023: - £183,075).

As at the year end Bem Brasil Restaurants Limited, a company which the director K Magalhaes has an interest, was owed £221 (2023 - £221).

As at the year end Bem Brasil Cheshire Limited, a company which the director K Magalhaes has an interest, was owed £6,524 (2023 - £6,524).

As at the year end the director K Magalhaes owes the company £487,152 (2023 - £394,192).