Company registration number:
06265244
THE SEASIDE COMPANY DORSET LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 October 2024
THE SEASIDE COMPANY DORSET LIMITED
BALANCE SHEET
31ST OCTOBER 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
7,500 |
|
|
|
10,500 |
|
|
|
Tangible assets |
|
6 |
2,375,371 |
|
|
|
2,432,991 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
2,382,871 |
|
|
|
2,443,491 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Stocks |
|
|
30,303 |
|
|
|
29,101 |
|
|
|
Debtors |
|
7 |
18,084 |
|
|
|
9,238 |
|
|
|
Cash at bank and in hand |
|
|
104,005 |
|
|
|
63,385 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
152,392 |
|
|
|
101,724 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
1,020,686) |
|
|
|
(
963,017) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current liabilities |
|
|
|
|
(
868,294) |
|
|
|
(
861,293) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
1,514,577 |
|
|
|
1,582,198 |
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
1,163,793) |
|
|
|
(
1,182,830) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net assets |
|
|
|
|
350,784 |
|
|
|
399,368 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
Called up share capital |
|
10 |
|
|
379,202 |
|
|
|
379,202 |
|
Share premium account |
|
|
|
|
2,405,975 |
|
|
|
2,405,975 |
|
Profit and loss account |
|
|
|
|
(
2,434,393) |
|
|
|
(
2,385,809) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Shareholders funds |
|
|
|
|
350,784 |
|
|
|
399,368 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 July 2025
, and are signed on behalf of the board by:
Ms JR Sturridge
Director
Company registration number:
06265244
THE SEASIDE COMPANY DORSET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Seaside Boarding House, Cliff Road, Bridport, Dorset, DT6 4RB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company continues to meet its day to day financial obligations due to support received from Mr A Mackintosh, a shareholder and director of the company. The directors consider that this support will be continued and the business plan will deliver a profitable business in the future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
| Goodwill |
- |
5 % |
straight line |
|
|
|
|
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
2 % |
straight line |
|
Plant and machinery |
- |
19 % |
straight line |
|
Fittings fixtures and equipment |
- |
10 % |
straight line |
|
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
40
(2023:
40
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1st November 2023 and 31st October 2024 |
60,000 |
60,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1st November 2023 |
49,500 |
49,500 |
|
|
|
|
|
Charge for the year |
3,000 |
3,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31st October 2024 |
52,500 |
52,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31st October 2024 |
7,500 |
7,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31st October 2023 |
10,500 |
10,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
Long leasehold property |
Freehold and leasehold properties |
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st November 2023 |
2,824,195 |
3,750 |
2,827,945 |
165,333 |
210,146 |
3,203,424 |
|
|
Additions |
- |
- |
- |
3,049 |
- |
3,049 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31st October 2024 |
2,824,195 |
3,750 |
2,827,945 |
168,382 |
210,146 |
3,206,473 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1st November 2023 |
446,434 |
- |
446,434 |
139,048 |
184,951 |
770,433 |
|
|
Charge for the year |
52,170 |
- |
52,170 |
4,875 |
3,624 |
60,669 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31st October 2024 |
498,604 |
- |
498,604 |
143,923 |
188,575 |
831,102 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st October 2024 |
2,325,591 |
3,750 |
2,329,341 |
24,459 |
21,571 |
2,375,371 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31st October 2023 |
2,377,761 |
3,750 |
2,381,511 |
26,285 |
25,195 |
2,432,991 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
9,802 |
- |
|
Other debtors |
|
8,282 |
9,238 |
|
|
|
_______ |
_______ |
|
|
|
18,084 |
9,238 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
56,269 |
93,500 |
|
Trade creditors |
|
93,024 |
82,705 |
|
Social security and other taxes |
|
123,825 |
135,156 |
|
Other creditors |
|
747,568 |
651,656 |
|
|
|
_______ |
_______ |
|
|
|
1,020,686 |
963,017 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
1,163,793 |
1,182,830 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
0.20 each |
|
1,896,011 |
|
379,202 |
|
1,896,011 |
|
379,202 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Related party transactions
At the balance sheet date an amount of £1,540,397 (2023: £1,435,397) was owed to a director of the company. The loans are crurrently interest free and there is no fixed date for repayment.