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Florence House Seaford Limited

Registered Number
05268253
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Florence House Seaford Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Mairin COLLEARY
Barry COLLEARY
George GLENDON
Daphne HAGENBACH,

Company Secretary

COLLEARY, Mairin

Registered Address

Florence House, Southdown Road
Seaford
East Sussex
BN25 4JS

Registered Number

05268253 (England and Wales)
Florence House Seaford Limited
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3103,598121,197
103,598121,197
Current assets
Stocks41,289955
Debtors5,6351,267283,659
Cash at bank and on hand108,200129,508
460,756414,122
Creditors amounts falling due within one year7(69,022)(73,749)
Net current assets (liabilities)391,734340,373
Total assets less current liabilities495,332461,570
Creditors amounts falling due after one year8(172,734)(181,152)
Provisions for liabilities9(13,678)(12,518)
Net assets308,920267,900
Capital and reserves
Called up share capital2,0002,000
Share premium18,00018,000
Profit and loss account288,920247,900
Shareholders' funds308,920267,900
The financial statements were approved and authorised for issue by the Board of Directors on 28 April 2025, and are signed on its behalf by:
Mairin COLLEARY
Director
Registered Company No. 05268253
Florence House Seaford Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1717
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 January 24114,79452,48728,256255,84513,356464,738
Additions-1,312-3,6656495,626
Disposals-(319)-(286)(120)(725)
At 31 December 24114,79453,48028,256259,22413,885469,639
Depreciation and impairment
At 01 January 2460,47740,83922,319208,42811,478343,541
Charge for year5,4313,0081,48412,31562022,858
On disposals-(263)-(23)(72)(358)
At 31 December 2465,90843,58423,803220,72012,026366,041
Net book value
At 31 December 2448,8869,8964,45338,5041,859103,598
At 31 December 2354,31711,6485,93747,4171,878121,197
4.Stocks

2024

2023

££
Other stocks1,289955
Total1,289955
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables62,03881,836
Amounts owed by associates and joint ventures / participating interests-360
Other debtors37,50337,773
Prepayments and accrued income7,9146,565
Total107,455126,534
6.Debtors: amounts due after one year

2024

2023

££
Amounts owed by associates and joint ventures / participating interests 243,811157,125
Total243,811157,125
At 31 December 2024 the company was owed £243,811 by Florence House Seaford Limited, A company in common ownership.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,2696,355
Bank borrowings and overdrafts10,00010,004
Taxation and social security28,29232,660
Other creditors14,88615,698
Accrued liabilities and deferred income6,5759,032
Total69,02273,749
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,25616,533
Other creditors165,478164,619
Total172,734181,152
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)13,67812,518
Total13,67812,518
10.Related party transactions
At 31 December 2024 the company was owed £243,811 by Florence House Seaford Limited, A company in common ownership.