Registered number
05746389
Seneca IP Ltd
Filleted Accounts
31 March 2025
Seneca IP Ltd
Registered number: 05746389
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 73,502 71,408
Current assets
Stocks 147,830 249,743
Debtors 4 478,892 340,160
Cash at bank and in hand 546,547 280,690
1,173,269 870,593
Creditors: amounts falling due within one year 5 (616,942) (514,594)
Net current assets 556,327 355,999
Total assets less current liabilities 629,829 427,407
Creditors: amounts falling due after more than one year 6 (29,238) (38,622)
Provisions for liabilities (13,703) (16,685)
Net assets 586,888 372,100
Capital and reserves
Called up share capital 100 100
Profit and loss account 586,788 372,000
Shareholders' funds 586,888 372,100
The director is 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 director acknowledges his 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.
J D Hedger
Director
Approved by the board on 25 May 2025
Seneca IP Ltd
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.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in this respect is recognised by reference to the stage of completion.
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:
Office Equipment Over lease term
Fixtures, fittings, tools and equipment 25% reducing balance
Leasehold improvements 10 years straight line
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
Taxation represents the sum of tax currently payable.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting 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.
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 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 15,530 92,292 107,822
Additions 18,688 - 18,688
At 31 March 2025 34,218 92,292 126,510
Depreciation
At 1 April 2024 1,553 34,861 36,414
Charge for the year 2,845 13,749 16,594
At 31 March 2025 4,398 48,610 53,008
Net book value
At 31 March 2025 29,820 43,682 73,502
At 31 March 2024 13,977 57,431 71,408
4 Debtors 2025 2024
£ £
Trade debtors 136,447 82,069
Other debtors 342,445 258,091
478,892 340,160
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 324 1,651
Obligations under finance lease and hire purchase contracts 10,999 15,309
Trade creditors 45,136 15,864
Taxation and social security costs 355,499 258,396
Other creditors 204,984 223,374
616,942 514,594
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 29,238 38,622
7 Other information
Seneca IP Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Speedwell Mill
Old Coach Road
Tansley, Matlock
Derbyshire
DE4 5FY
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