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Registration number: 05060016

Seaview Sensing Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Seaview Sensing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Seaview Sensing Limited

Company Information

Director

Prof L R Wyatt

Company secretary

Prof L R Wyatt

Registered office

211 Graham Road
Sheffield
South Yorkshire
S10 3GR

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Seaview Sensing Limited

(Registration number: 05060016)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

27,108

28,886

Tangible assets

5

1,336

1,331

 

28,444

30,217

Current assets

 

Debtors

6

2,002

1,833

Cash at bank and in hand

 

5,049

16,064

 

7,051

17,897

Creditors: Amounts falling due within one year

7

(18,291)

(20,981)

Net current liabilities

 

(11,240)

(3,084)

Total assets less current liabilities

 

17,204

27,133

Creditors: Amounts falling due after more than one year

7

(202,201)

(200,344)

Provisions for liabilities

(7,000)

(10,000)

Net liabilities

 

(191,997)

(183,211)

Capital and reserves

 

Called up share capital

500

120

Retained earnings

(192,497)

(183,331)

Shareholders' deficit

 

(191,997)

(183,211)

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.

Director's 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.

 

Seaview Sensing Limited

(Registration number: 05060016)
Balance Sheet as at 30 September 2024 (continued)

Approved and authorised by the director on 25 June 2025
 

.........................................
Prof L R Wyatt
Company secretary and director

   
     
 

Seaview Sensing 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 and Wales registration number: 05060016.

The address of its registered office is:
211 Graham Road
Sheffield
South Yorkshire
S10 3GR

These financial statements were authorised for issue by the director on 25 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.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Seaview Sensing Limited

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

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance basis

Office equipment

33% straight line basis

Development costs

Development costs are capitalised and treated as Intangible Assets on the Balance Sheet, as the entity can demonstrate that all of the points in FRS 102 18.8H are met, and those costs are written off on a straight line basis over a period of 10 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

10% straight line basis

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Seaview Sensing Limited

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 October 2023

196,839

196,839

Additions internally developed

4,200

4,200

At 30 September 2024

201,039

201,039

Amortisation

At 1 October 2023

167,953

167,953

Amortisation charge

5,978

5,978

At 30 September 2024

173,931

173,931

Carrying amount

At 30 September 2024

27,108

27,108

At 30 September 2023

28,886

28,886

 

Seaview Sensing Limited

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

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

7,751

7,751

Additions

277

277

At 30 September 2024

8,028

8,028

Depreciation

At 1 October 2023

6,420

6,420

Charge for the year

272

272

At 30 September 2024

6,692

6,692

Carrying amount

At 30 September 2024

1,336

1,336

At 30 September 2023

1,331

1,331

6

Debtors

Current

2024
£

2023
£

Prepayments

690

550

Other debtors

1,312

1,283

 

2,002

1,833

 

Seaview Sensing Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

12,000

14,975

Accruals and deferred income

3,291

6,006

Other creditors

3,000

-

18,291

20,981

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other creditors

202,201

200,344