| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Seascape Projects Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Seascape Projects Limited |
| Seascape Projects Limited (Registered number: 05207339) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Seascape Projects Limited |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 80 Woodrush Way |
| Romford |
| Essex |
| RM6 5BL |
| Seascape Projects Limited (Registered number: 05207339) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Non-distributable reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Seascape Projects Limited (Registered number: 05207339) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
| Seascape Projects Limited (Registered number: 05207339) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Seascape Projects Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable and is attributable to the company's principal activity. Rent is recognised for the period for which it is due. |
| 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. |
| 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. |
| 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 year 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. |
| Seascape Projects Limited (Registered number: 05207339) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The directors consider that the financial resources available to the company are adequate to meet its operational needs for the foreseeable future or for at least 12 months from the date of signature of these accounts. Accordingly, the going concern basis has been adopted in preparing these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| The investment property was revalued by the directors as at 31 August 2024. In the opinion of the directors, the fair value of the investment property as at 31 August 2024 was not significantly different from the Net Book Value. On a historical cost basis this would have been included at an original cost of £220,640 (2023 : £220,640). |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2010 | 154,360 |
| Valuation in 2014 | 75,000 |
| Valuation in 2016 | 150,000 |
| Valuation in 2017 | 75,000 |
| Cost | 220,640 |
| 675,000 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| Seascape Projects Limited (Registered number: 05207339) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Other loans (see note 8) |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' current accounts | 46,560 | 34,791 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans (see note 8) |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non- |
| instalment |
| The bank loan is secured by way of a first legal charge on the company's investment property. |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Other loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non- |
| instalment | - | 125,534 |
| - | 125,534 |
| Seascape Projects Limited (Registered number: 05207339) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Deferred tax | 113,590 | 86,328 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2023 |
| Provided during year |
| Balance at 31 August 2024 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
| value: | £ | £ |
| ordinary | 1 | 50 | 50 |
| 11. | RESERVES |
| Reserves |
| Non |
| Retained | distributable |
| Earnings | earnings | Totals |
| £ | £ | £ |
| At 1 September 2023 | 55,731 | 368,031 | 423,762 |
| Profit for the year | 4,029 | (27262 | ) | (23,233 | ) |
| Dividends paid | (2,000 | ) | (2,000 | ) |
| At 31 August 2023 | 57,760 | 340,769 | 398,529 |
| 12. | ULTIMATE CONTROLLING PARTY |
| There is no ultimate controlling party of the company. |