Registered number
08430856
SE1 UK Limited
Filleted Accounts
30 June 2024
SE1 UK Limited
Registered number: 08430856
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 945,000 1,080,000
Tangible assets 4 690,248 752,327
1,635,248 1,832,327
Current assets
Stocks 5,000 5,000
Debtors 5 112,066 128,595
Cash at bank and in hand 5,999 69,437
123,065 203,032
Creditors: amounts falling due within one year 6 (456,414) (884,496)
Net current liabilities (333,349) (681,464)
Net assets 1,301,899 1,150,863
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,300,899 1,149,863
Shareholders' funds 1,301,899 1,150,863
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.
C D Hill
Director
Approved by the board on 17 April 2025
SE1 UK Limited
Notes to the Accounts
for the year ended 30 June 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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, 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 25
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 1,350,000
At 30 June 2024 1,350,000
Amortisation
At 1 July 2023 270,000
Provided during the year 135,000
At 30 June 2024 405,000
Net book value
At 30 June 2024 945,000
At 30 June 2023 1,080,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 869,757 492,662 19,598 1,382,017
Additions - 31,841 8,676 40,517
At 30 June 2024 869,757 524,503 28,274 1,422,534
Depreciation
At 1 July 2023 367,412 248,615 13,663 629,690
Charge for the year 46,231 55,178 1,187 102,596
At 30 June 2024 413,643 303,793 14,850 732,286
Net book value
At 30 June 2024 456,114 220,710 13,424 690,248
At 30 June 2023 502,345 244,047 5,935 752,327
5 Debtors 2024 2023
£ £
Trade debtors 67,247 30,849
Other debtors 44,819 97,746
112,066 128,595
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 95,813 171,433
Taxation and social security costs 320,315 152,689
Other creditors 40,286 560,374
456,414 884,496
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C D & A Z Hill
Directors Loan Account (524,588) 637,256 (112,953) (285)
(524,588) 637,256 (112,953) (285)
8 Other information
SE1 UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
109 Gloucester Place
London
W1U 6JW
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