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Company Registration No. 8502926 (England and Wales)
Sea Chips Ltd Unaudited accounts for the year ended 31 August 2024
Sea Chips Ltd Unaudited accounts Contents
Page
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Sea Chips Ltd Company Information for the year ended 31 August 2024
Directors
D Smith D Pawson
Company Number
8502926 (England and Wales)
Registered Office
Lodge Farm Chantry Lane Tadcaster North Yorkshire LS24 9NH
Accountants
DS Private Clients The Old Vicarage Beck Hill Barton-upon-Humber DN18 5EY
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Sea Chips Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
526 
1,051 
Investments
100 
100 
626 
1,151 
Current assets
Inventories
7,400 
6,100 
Debtors
56,391 
42,388 
Cash at bank and in hand
127 
112 
63,918 
48,600 
Creditors: amounts falling due within one year
(67,385)
(54,914)
Net current liabilities
(3,467)
(6,314)
Total assets less current liabilities
(2,841)
(5,163)
Creditors: amounts falling due after more than one year
(3,890)
(15,627)
Net liabilities
(6,731)
(20,790)
Capital and reserves
Called up share capital
161 
161 
Share premium
57,323 
57,323 
Capital contribution reserve
13,000 
13,000 
Profit and loss account
(77,215)
(91,274)
Shareholders' funds
(6,731)
(20,790)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2025 and were signed on its behalf by
D Smith Director Company Registration No. 8502926
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Sea Chips Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Sea Chips Ltd is a private company, limited by shares, registered in England and Wales, registration number 8502926. The registered office is Lodge Farm, Chantry Lane, Tadcaster, North Yorkshire, LS24 9NH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Sea Chips Ltd Notes to the Accounts for the year ended 31 August 2024
4
Intangible fixed assets
Total 
£ 
Cost
At 1 September 2023
2,626 
At 31 August 2024
2,626 
Amortisation
At 1 September 2023
1,575 
Charge for the year
525 
At 31 August 2024
2,100 
Net book value
At 31 August 2024
526 
At 31 August 2023
1,051 
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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