Registered number
02156682
SEATTLE LIMITED
Filleted Accounts
31 August 2024
SEATTLE LIMITED
Registered number: 02156682
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 9,576 6,375
39,576 36,375
Current assets
Stocks 250 250
Debtors 5 18,826 13,384
Cash at bank and in hand 49,399 41,712
68,475 55,346
Creditors: amounts falling due within one year 6 (20,243) (27,301)
Net current assets 48,232 28,045
Total assets less current liabilities 87,808 64,420
Provisions for liabilities (1,668) (1,026)
Net assets 86,140 63,394
Capital and reserves
Called up share capital 100 100
Profit and loss account 86,040 63,294
Shareholders' funds 86,140 63,394
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Fitzgerald
Director
Approved by the board on 22 May 2025
SEATTLE LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 10% per annum reducing balance basis
Motor vehicles 20% per annum reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 30,000
At 31 August 2024 30,000
Amortisation
At 31 August 2024 -
Net book value
At 31 August 2024 30,000
At 31 August 2023 30,000
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 80,659 14,542 95,201
Additions 4,267 - 4,267
At 31 August 2024 84,926 14,542 99,468
Depreciation
At 1 September 2023 74,285 14,541 88,826
Charge for the year 1,066 - 1,066
At 31 August 2024 75,351 14,541 89,892
Net book value
At 31 August 2024 9,575 1 9,576
At 31 August 2023 6,374 1 6,375
5 Debtors 2024 2023
£ £
Trade debtors and prepayments 8,826 3,384
Other debtors 10,000 10,000
18,826 13,384
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors and accruals 7,534 8,594
Corporation tax 4,694 2,528
Other taxes and social security costs 1,012 1,088
Other creditors - director's loan account 7,003 15,091
20,243 27,301
7 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
8 Contingent liabilities
There were no contingent liabilities in existence at the year end.
9 Controlling party
The controlling party is Mr J Fitzgerald, the director, by virtue of his holding 99% of the issued ordinary share capital of the company.
10 Other information
SEATTLE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
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