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REGISTERED NUMBER: 06738007 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

HAN-SEA LIMITED

HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAN-SEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTOR: S Waring





REGISTERED OFFICE: 3 & 4 Park Court
Riccall Road
Escrick
York
North Yorkshire
YO19 6ED





REGISTERED NUMBER: 06738007 (England and Wales)





ACCOUNTANTS: CGA
Chartered Certified Accountants
3 & 4 Park Court
Riccall Road
Escrick
York
North Yorkshire
YO19 6ED

HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,241 2,126

CURRENT ASSETS
Stocks 124,596 118,576
Debtors 5 14,268 16,522
Cash at bank 78,042 37,642
216,906 172,740
CREDITORS
Amounts falling due within one year 6 182,320 128,715
NET CURRENT ASSETS 34,586 44,025
TOTAL ASSETS LESS CURRENT LIABILITIES 36,827 46,151

CREDITORS
Amounts falling due after more than one year 7 (12,500 ) (22,500 )

PROVISIONS FOR LIABILITIES (426 ) (404 )
NET ASSETS 23,901 23,247

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 23,900 23,246
SHAREHOLDERS' FUNDS 23,901 23,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)

BALANCE SHEET - continued
31ST OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3rd June 2025 and were signed by:





S Waring - Director


HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024

1. STATUTORY INFORMATION

Han-Sea Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

For repair work, revenue is recognised when the work has been completed. For boat sales and commission income, revenue is recognised when the transaction has been agreed by both parties and there is an obligation to complete the sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st November 2023 750 669 2,717 4,136
Additions - - 403 403
At 31st October 2024 750 669 3,120 4,539
DEPRECIATION
At 1st November 2023 434 550 1,026 2,010
Charge for year 79 30 179 288
At 31st October 2024 513 580 1,205 2,298
NET BOOK VALUE
At 31st October 2024 237 89 1,915 2,241
At 31st October 2023 316 119 1,691 2,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,032 12,034
Other debtors 4,236 4,488
14,268 16,522

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 28,432 13,073
Taxation and social security 18,138 11,379
Other creditors 125,750 94,263
182,320 128,715

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500

HAN-SEA LIMITED (REGISTERED NUMBER: 06738007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,024 6,899
Between one and five years - 4,024
4,024 10,923

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £31,960 (2023 - £28,893) to key management personnel. No interest has been charged to the company in respect of this loan which is repayable on demand and is presented within creditors due within one year.