| 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 |