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Registered number: 11524241
Sambuca Seaham Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Newcastle Accountancy
Chartered Management Accountants And Tax Advisers
32 Grainger Park Road
Newcastle Upon Tyne
NE4 8SA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11524241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 45,000 45,000
Tangible Assets 5 13,418 14,074
58,418 59,074
CURRENT ASSETS
Stocks 6 3,000 4,000
Debtors 7 - 144
Cash at bank and in hand 42,097 51,298
45,097 55,442
Creditors: Amounts Falling Due Within One Year 8 (34,815 ) (31,309 )
NET CURRENT ASSETS (LIABILITIES) 10,282 24,133
TOTAL ASSETS LESS CURRENT LIABILITIES 68,700 83,207
Creditors: Amounts Falling Due After More Than One Year 9 (17,523 ) (27,069 )
NET ASSETS 51,177 56,138
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 51,077 56,038
SHAREHOLDERS' FUNDS 51,177 56,138
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr RENARS REINKOPS
Director
14/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sambuca Seaham Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11524241 . The registered office is Pj's Hotel Station Road, Percy Main, North Shields, NE29 6HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold -
Motor Vehicles 25% original cost
Fixtures & Fittings 25% original cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 45,000
As at 31 August 2024 45,000
Net Book Value
As at 31 August 2024 45,000
As at 1 September 2023 45,000
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 2,000 23,198 25,198
Additions - 5,850 5,850
As at 31 August 2024 2,000 29,048 31,048
Depreciation
As at 1 September 2023 1,208 9,916 11,124
Provided during the period 500 6,006 6,506
As at 31 August 2024 1,708 15,922 17,630
Net Book Value
As at 31 August 2024 292 13,126 13,418
As at 1 September 2023 792 13,282 14,074
6. Stocks
2024 2023
£ £
Materials 3,000 4,000
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security - 144
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,231 1,445
Corporation tax 8,611 8,604
Other taxes and social security 300 -
VAT 12,254 11,705
Accruals and deferred income 4,310 6,821
Directors' loan accounts 6,109 2,734
34,815 31,309
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,523 27,069
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5