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Registration number: 00758313

Sea-Charter Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Sea-Charter Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Sea-Charter Properties Limited

Company Information

Directors

Mr GM Sheppard

Mrs SE Sheppard

Mr TG Sheppard

Ms JJ Sheppard

Ms NS Sheppard

Registered office

1 Blatchington Road
Hove
East Sussex
BN3 3YP

Accountants

Durston Gibb
Chartered Accountants1 Blatchington Road
Hove
East Sussex
BN3 3YP

 

Sea-Charter Properties Limited

(Registration number: 00758313)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

416,000

416,000

Current assets

 

Debtors

6

52,000

52,000

Cash at bank and in hand

 

73,574

78,556

 

125,574

130,556

Creditors: Amounts falling due within one year

7

(40,467)

(46,623)

Net current assets

 

85,107

83,933

Total assets less current liabilities

 

501,107

499,933

Provisions for liabilities

(101,467)

(101,467)

Net assets

 

399,640

398,466

Capital and reserves

 

Called up share capital

8

9

9

Retained earnings

399,631

398,457

Shareholders' funds

 

399,640

398,466

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 

 

Sea-Charter Properties Limited

(Registration number: 00758313)
Balance Sheet as at 30 September 2024

.........................................
Mr GM Sheppard
Director

 

Sea-Charter Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Blatchington Road
Hove
East Sussex
BN3 3YP
United Kingdom

These financial statements were authorised for issue by the Board on 20 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of rental services is recognised by reference to the period to which the rent relates.

Tax

The tax expense for the period comprises current tax which is recognised in profit or loss.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Sea-Charter Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets less their residual values over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

 

Sea-Charter Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

1,325

1,325

At 30 September 2024

1,325

1,325

Depreciation

At 1 October 2023

1,325

1,325

At 30 September 2024

1,325

1,325

Carrying amount

At 30 September 2024

-

-

5

Investment properties

2024
£

At 1 October

416,000

At 30 September

416,000

Investment property comprises freehold and long leasehold land and buildings. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2024 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

There has been no valuation of investment property by an independent valuer.

 

Sea-Charter Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Other debtors

52,000

52,000

 

52,000

52,000

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,392

3,405

Accruals and deferred income

2,665

2,641

Other creditors

35,410

40,577

40,467

46,623

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

9

9

9

9

       
 

Sea-Charter Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Dividends

2024

2023

£

£

Interim dividend of £1,000.00 (2023 - £1,000.00) per ordinary share

9,000

9,000