Registered number
03626478
Seeing Solutions Limited
Unaudited Filleted Accounts
31 August 2024
Seeing Solutions Limited
Registered number: 03626478
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 380,002 400,002
Current assets
Debtors 4 1,945 3,763
Cash at bank and in hand 9,185 5,508
11,130 9,271
Creditors: amounts falling due within one year 5 (1,954) (2,109)
Net current assets 9,176 7,162
Total assets less current liabilities 389,178 407,164
Creditors: amounts falling due after more than one year 6 (125,750) (125,750)
Provisions for liabilities (8,666) (13,666)
Net assets 254,762 267,748
Capital and reserves
Called up share capital 70,985 70,985
Revaluation reserve 8 155,267 170,267
Profit and loss account 28,510 26,496
Shareholders' funds 254,762 267,748
The directors are 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 directors acknowledge their 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.
S M Scott
Director
Approved by the board on 27 May 2025
Seeing Solutions 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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised when the right to that income arises.
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 evenly over its expected useful life, as follows:
Fixtures and fittings over 5 years
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 400,000 7,663 407,663
Surplus on revaluation (20,000) - (20,000)
At 31 August 2024 380,000 7,663 387,663
Depreciation
At 1 September 2023 - 7,661 7,661
At 31 August 2024 - 7,661 7,661
Net book value
At 31 August 2024 380,000 2 380,002
At 31 August 2023 400,000 2 400,002
The investment property was revalued by the directors as at 31 August 2024, on the basis of professional advice, on an open market value basis.
4 Debtors 2024 2023
£ £
Trade debtors 1,528 3,502
Other debtors 417 261
1,945 3,763
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 473 672
Other creditors 1,481 1,437
1,954 2,109
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 115,750 115,750
Other creditors 10,000 10,000
125,750 125,750
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 115,750 115,750
The bank loan is secured on the company's investment property.
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 170,267 173,547
Loss on revaluation of land and buildings (20,000) -
Deferred taxation arising on the revaluation of land and buildings 5,000 (3,280)
At 31 August 2024 155,267 170,267
9 Controlling party
S M Scott is the company's ultimate controller.
10 Other information
Seeing Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Farmhouse
Town Row Green
Rotherfield
East Sussex TN6 3QU
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