Registered number
04989100
Seals+Direct Limited
Filleted Accounts
31 March 2025
Seals+Direct Limited
Registered number: 04989100
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 436,978 491,028
Current assets
Stocks 83,425 80,248
Debtors 4 134,261 140,428
Cash at bank and in hand 2,255,531 1,964,838
2,473,217 2,185,514
Creditors: amounts falling due within one year 5 (275,345) (219,611)
Net current assets 2,197,872 1,965,903
Total assets less current liabilities 2,634,850 2,456,931
Provisions for liabilities (56,392) (68,518)
Net assets 2,578,458 2,388,413
Capital and reserves
Called up share capital 100 2
Profit and loss account 2,578,358 2,388,411
Shareholders' funds 2,578,458 2,388,413
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.
P Howard
Director
Approved by the board on 27 June 2025
Seals+Direct Limited
Notes to the Accounts
for the year ended 31 March 2025
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 at rates calculated to write off the cost, less estimated residual value, of ach 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
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 277,293 164,809 376,740 818,842
Additions - 9,583 41,589 51,172
Disposals - - (42,414) (42,414)
At 31 March 2025 277,293 174,392 375,915 827,600
Depreciation
At 1 April 2024 60,336 134,229 133,249 327,814
Charge for the year 5,547 16,009 75,183 96,739
On disposals - - (33,931) (33,931)
At 31 March 2025 65,883 150,238 174,501 390,622
Net book value
At 31 March 2025 211,410 24,154 201,414 436,978
At 31 March 2024 216,957 30,580 243,491 491,028
4 Debtors 2025 2024
£ £
Trade debtors 121,679 123,587
Other debtors 12,582 16,841
134,261 140,428
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 85,024 103,826
Taxation and social security costs 190,322 115,783
Other creditors (1) 2
275,345 219,611
6 Controlling party
The company is controlled by P Howard, J Howard and A Howard.
7 Other information
Seals+Direct Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6
Milton Business Centre
Wick Drive
New Milton
BH25 6RH
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