Company No:
Contents
| Note | 31.10.2024 | |
| £ | ||
| Fixed assets | ||
| Investments |
|
|
| 1,242,334 | ||
| Current assets | ||
| Debtors | 3 |
|
| 100 | ||
| Creditors: amounts falling due within one year | 4 | (
|
| Net current liabilities | (1,273,136) | |
| Total assets less current liabilities | (30,802) | |
| Provision for liabilities | 5 | (
|
| Net liabilities | (
|
|
| Capital and reserves | ||
| Called-up share capital | 6 |
|
| Profit and loss account | (
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| Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Sea Shell Gaming Limited (registered number:
|
Adrian Charles Moore
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Sea Shell Gaming Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Studio 5 Rowditch Business Centre, 282 Uttoxeter New Road, Derby, DE22 3LN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £1,273,136. The Company is supported through loans from the Group. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Group will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| Period from 20.09.2023 to 31.10.2024 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including the director |
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| 31.10.2024 | |
| £ | |
| Amounts owed by director |
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| 31.10.2024 | |
| £ | |
| Trade creditors |
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| Amounts owed to own subsidiaries |
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| Accruals |
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| Other creditors |
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| 31.10.2024 | |
| £ | |
| At the beginning of financial period |
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| Charged to the Statement of Income and Retained Earnings | (
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| At the end of financial period | (
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| 31.10.2024 | |
| £ | |
| Allotted, called-up and fully-paid | |
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| 100 |
Transactions with owners holding a participating interest in the entity
| 31.10.2024 | |
| £ | |
| Amounts owed to Sea Shell Holdings Ltd | 380,000 |
No interest has been charged on these balances and there are no fixed dates for repayment.
The company has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.
Transactions with the entity's director
| 31.10.2024 | |
| £ | |
| Amounts owed by the director | 100 |
There are no set repayment terms and the accounts are interest-free.